Source: adapted from Brooks M.R. and Pallis A.A. (2012). Port Governance. In: Talley W.K. (ed.). Maritime Economics – A Blackwell Companion. Blackwell, 232-267.
Ports are critical infrastructure for an economy that, like other terminal assets, their management, operations, and development are capital intensive, consume (public) scarce land use, are associated with externalities (noise, emissions), and involve many stakeholders (port authority, terminal operators, rail operators, trucking companies, logistics providers, port-cities, etc.). Due to the latter, developing a governance model for a port requests a broader vision that considers addressing within port relationships and every economic and operational parameter. At the same time, it also allows for weighting and considering the several social and cultural variables linked with port operations and developments. Once decided, governance principles are then applicable to all relationships between businesses and their shareholders, governments and citizens, public/private agencies and stakeholders, port authorities, other organizations, and those who establish them to undertake activities on their behalf.