Dp World News

Oman's Salalah port reported a 16% decline in container volumes in the first half of the year as ships reroute around the southern tip of Africa to avoid missile and drone attacks in the Red Sea.The port, which is Oman's closest to the border with Yemen, handled 1.679 million shipping containers in the six months to June 30, compared with 1.999 million a year earlier, Salalah Port Services Co said on Thursday.Shipping lines that are avoiding the Red Sea area bypass the route where Salalah is located…

Dubai-owned DP World reported a 59% drop in first-half profit on Thursday as the ports and logistics company grappled with shipping disruptions in the Red Sea as tensions flare in the Middle East due to the ongoing Israel-Hamas war in Gaza.Missile and drone attacks in the Red Sea since October by Yemen's Houthi militants, who say they are acting in solidarity with Palestinians in the Gaza war, have forced many ocean freight firms to re-route vessels away from the Suez Canal to…

A strike planned for Monday by ship and dock foremen at west Canadian ports has been called off after the country's industrial relations board found the union's strike notice was in violation of the labor code, the board said in an order."The Board directs the union to rescind its strike notice," Canada Industrial Relations Board (CIRB) said in the order, adding that the strike violated the Canada Labour Code.It said that the union - International Longshore and Warehouse Union Ship and Dock Foremen Local 514 - failed to bargain in good faith.The union did not immediately respond to a request f

Russia's state nuclear agency Rosatom has signed a memorandum of understanding with a Chinese shipping company to establish a year-round container line between the two countries via the Arctic's Northern Sea Route (NSR), it said on Thursday.Russian President Vladimir Putin has talked up prospects for the Arctic corridor as Russia shifts its trade eastwards in response to Western sanctions over the conflict in Ukraine.Rosatom said the agreement with China's Hainan Yangpu NewNew Shipping Co.

DP World has signed a partnership agreement with Abu Dhabi Future Energy Company (Masdar) to explore and implement renewable energy systems across its global port operations in the Middle East and Africa.The agreement aims to facilitate the widespread adoption of renewable energy and battery energy storage systems (BESS) within DP World’s global supply chain.Over the course of the three-year partnership, DP World and Masdar will work together to identify optimal sites for the potential deployment of solar and energy storage systems…

Unifeeder Group announced it has completed a long-term charter agreement for two additional methanol-capable container feeder vessels. This follows the agreement for two initial vessels announced in October 2023. The latest agreement is in partnership with German-based ship owning group Elbdeich Reederei and Norwegian shipowner MPC Container Ships (MPCC), who are responsible for one vessel each. The 1,250 twenty-foot equivalent unit (TEU) vessels, scheduled for delivery in 2026…

Disruptions to Red Sea shipping caused by Houthi attacks will push up prices of consumer goods, an executive from port and freight operator DP World said on Tuesday as a missile struck another vessel in the region.The Iran-allied Houthi militia has threatened to expand its attacks to include U.S. ships in response to American and British strikes on its sites in Yemen.Attacks by the Houthis on ships in the region since November have impacted companies and alarmed major powers - an escalation of Israel's more than three-month-old war with Palestinian Hamas militants in Gaza.

DP World Australia, one of the country's largest ports operators, said on Monday operations had resumed at all its facilities after a cyber security incident forced it to suspend operations for three days.The breach had crippled operations at the company, which manages about 40% of the goods that flow in and out of Australia, affecting its container terminals in Melbourne, Sydney, Brisbane and Western Australia's Fremantle."Operations resumed at the company's ports across Australia at 9 a.m. today (2200 GMT, Sunday) ...

The Australian government on Sunday described as "serious and ongoing" a cybersecurity incident that forced ports operator DP World Australia to suspend operations at ports in several states since Friday.DP World Australia, which manages nearly half of the goods that flow in and out of the country, said it was looking into possible data breaches as well as testing systems "crucial for the resumption of normal operations and regular freight movement".The breach halted operations at the containers terminals in Melbourne…

President Vladimir Putin signed on Wednesday a decree transferring to Russia's state nuclear power company Rosatom state-owned shares of the Far Eastern Shipping Company, parent company of transportation group Fesco.Fesco was formerly controlled by Ziyavudin Magomedov, who was convicted last year on organized crime and embezzlement charges and is serving a 19-year jail sentence following one of the highest-profile prosecutions of a Russian tycoon in years.Magamedov says the charges are unfounded and is appealing his conviction.

Russian nuclear agency Rosatom said on Tuesday it has set up a joint venture with Dubai's DP World to develop container shipping through the Arctic as part of an initiative heavily promoted by President Vladimir Putin.The deal with one of the world's top port operators is the most tangible sign yet of Moscow's ability to attract big international partners to help it realise its ambitious plans for what it calls the Northern Sea Route.Putin has talked up prospects for the Arctic corridor…

Tanzania on Sunday signed agreements with Dubai state-owned ports operator DP World to operate part of the Dar es Salaam port for 30 years, a deal that has previously been opposed by Tanzania opposition and rights groups.Plasduce Mbossa, director general of state-owned Tanzania Ports Authority (TPA) which currently manages the port, said DP World will lease and operate four of the 12 berths at the country's largest port.Dar es Salaam also serves landlocked nations in east and southern Africa like Uganda…

Thousands of cars are now entering Turkey after DP World Yarımca introduced a ‘cars in containers’ shipping solution that has helped solve an automotive supply chain crisis in the region.Congestion at Turkish ports has resulted in significant delays in delivering new vehicles against a backdrop of skyrocketing demand in the burgeoning automotive market. Turkey recently experienced an auto sales boom with a record 110,000 vehicles sold in June which is a 37.5% year-on-year increase…

Russian tycoon Ziyavudin Magomedov, jailed at home in Russia, has launched a London lawsuit seeking nearly $14 billion over his holdings in valuable port operators, which he says were seized as part of a state-backed conspiracy.The businessman filed the lawsuit at London's High Court on July 20 against several defendants, including Russian state nuclear energy company Rosatom, oil pipeline operator Transneft, private equity firm TPG, and UAE-based port operator DP World.Magomedov…

A whale carcass was discovered on Tuesday in Belgium's Port of Antwerp.Responders are working to remove the 7- to 10-meter long whale from the water after it was found near DP World's container terminal. The port said whale deaths in the area are rare.Follownig a failed attempt to get the animal ashore using an AMT vessel and crane, the port is now using Brabo, a floating derrick crane capable of lifting up to 800 tonnes.After the whale is brought on land, the cadaver will be…

Dubai's state-owned ports giant DP World said on Thursday its first-half profit fell nearly 10% from a year earlier, even as revenue climbed nearly 14%, and flagged an uncertain outlook for trade.Profit attributable to DP World's owners in the six months to June was down 9.7% at $651 million from a year earlier, when the port operator posted record profit of $721 million."While the near-term trade outlook may be uncertain due to macroeconomic and geopolitical factors, the solid financial performance of the first six months positions us well to deliver a steady set of full-year results…

Maritime services provider P&O Maritime Logistics on Tuesday announced it has secured a towage contract with DP World in the Dominican Republic, which will increase the volume and size of vessels calling at the Port of Caucedo.The contract, which starts on December 7, will see P&O Maritime Logistics deploy three tugs to support operations at Caucedo, which has a capacity to handle up to 2.5 million twenty-foot equivalent units (TEUs).The three tugs, including two newbuilds will help facilitate higher frequency and the handling of larger vessels…

UAE-based logistics giant DP World announced its BOXBAY high-bay storage system will be installed to boost container handling efficiency at its terminal in Busan, South Korea.BOXBAY was developed by DP World in a joint venture with German plant technology supplier SMS group, who first created and proved the system for handling heavy metal coils. Refined for port logistics, the fully automated rack-like container storage system allows direct access to each container at any time…

A recently completed terminal expansion project at Canada's Port of Vancouver is set to boost capacity amid projected cargo volume growth at the Canadian West Coast seaport.The Construction on the Centerm Expansion Project—delivered by the the Vancouver Fraser Port Authority in partnership with terminal operator DP World—allows Centerm to handle 60% more containers by increasing the terminal footprint by 15%. Work completed includes expanding the terminal footprint to the west and east…

DP World expects freight rates to drop by a further 15% to 20% in 2023 as demand slows, the Dubai-based global logistics company's deputy chief executive and chief financial officer Yuvraj Narayan told Reuters on Monday.Narayan said the first signs of a significant drop in demand were visible and freight rates on the shipping side had declined quite significantly on certain routes as agencies including the International Monetary Fund (IMF) lowered growth forecasts.Freight rates are the prices at which cargoes are delivered by container from one point of the globe to another.The biggest problem

DP World announced it will invest $35 million in 2023 to expand and modernize its facilities on the left bank of Brazil’s Port of Santos.With the investment, the company plans to increase annual movement capacity from 1.2 million TEUs to 1.4 million TEUs and expand the size of the quay from 1,100 meters to 1,300 meters. The terminal currently inhabits 845,000 square meters, with an additional 130,000 square meters available for expansion.The project marks DP World’s third round of investment since operations began in Brazil in July 2013.

Dubai's shipbuilding and shiprepair company Drydocks World and Norwegian offshore engineering and construction firm Aker Solutions have established a joint venture to upgrade the Petrojarl Knarr FPSO for Equinor's Rosebank offshore oil and gas field in the UK, the Government of Dubai media office confirmed Friday.The joint venture signed its first contract with FPSO owner Altera Infrastructure to upgrade, refurbish, and electrify the FPSO. The vessel will be redeployed at Rosebank field…

Dubai-based P&O Maritime Logistics announced plans to convert one of its multi-carrying vessels (MCV) into a cable laying vessel (CLV).Set to start operations in the third quarter of 2024, the newly converted vessel will be equipped with a battery system, as well as a low fuel consumption propulsion layout for green methanol fuel.P&O Maritime Logistics, a DP World company, anticipates that one of the main use of the vessel will be to connect offshore wind farms with the mainland.The…