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DP World News
Unifeeder, Sagarmala Finance Corporation Limited to Advance Sustainable Coastal Shipping in India
Unifeeder, a DP World company, has signed a Memorandum of Understanding (MoU) with India’s Sagarmala Finance Corporation Limited (SMFCL), a Government of India Enterprise under the Ministry of Ports, Shipping and Waterways to collaborate on developing and scaling commercially sustainable coastal and shortsea shipping services across India.The MoU established a framework for joint action to design and finance coastal shipping corridors that support India’s ambitions to decongest roads…
Syria Signs $800 Million Agreement with DP World
Syria's General Authority for Land and Sea Ports on Sunday signed a $800 million agreement with UAE's DP World to bolster Syrian ports infrastructure and logistical services, Syrian state news agency SANA reported.The agreement follows on from a memorandum of understanding signed between the two sides in May.The deal with DP World, a subsidiary of United Arab Emirates investment company Dubai World…
DP World and Maersk Agree to Expand Maritime Services in Brazil
Dubai-based ports and logistics firm DP World and shipping giant Maersk have signed a long-term agreement to boost container-handling capacity and increase weekly vessel calls to support Brazil’s growing trade demands.DP World operates one of the country’s largest private terminals at the Port of Santos. Under the terms of the eight-year agreement, Maersk will introduce additional long-term services and maintain a minimum service level at the port.In the first year…
DP World Marks Record 8.3% Growth in Container Handling for 2024
DP World’s ports and terminals handled a record 88.3 million twenty-foot equivalent units (TEUs) in 2024, up 8.3% year-on-year, despite macroeconomic headwinds and concerns over the outlook for global trade.The global logistics business, which now can handle over 100 million TEU across operations in 78 countries, benefitted from long-term infrastructure investment, contributing to strong growth and…
DP World Southampton Welcomes First Gemini Cooperation Ship
DP World Southampton has welcomed the arrival of MV Leonidio, the first ship to dock to the port under the Gemini Cooperation agreement, set up by Hapag-Lloyd and Maersk. The MV Leonidio docked at the Southampton logistics hub on February 3 as part of its first rotation on the Gemini Transatlantic AL1/AT3 service.The ship will call at the ports of Rotterdam, Hamburg, and Wilhelmshaven in Northern Europe before crossing the Atlantic to dock at New York…
DP World: Freight Rates could fall 20% if Red Sea attacks curbed
Ships not linked to Israel could begin returning to the Red Sea in as little as two weeks, DP World's deputy chief executive said, adding that could see freight prices "come crashing down".Sea freight prices could drop "at least 20%, 25%" and that could happen over two to three months, Yuvraj Narayan told Reuters on the sidelines of the World Economic Forum meeting taking place in Davos, Switzerland.It is hard to predict a specific timeline…
DP World Shoots Over 100 Million TEU Capacity Mark
Port and logistics firm DP World has surpassed 100 million TEUs of container handling capacity across its global portfolio since inception.The achievement has been made possible due to over $11 billion in strategic investments and infrastructure development over the last decade.Over the past 10 years, DP World’s capacity has grown 33%, driven primarily by expansions and new greenfield developments as well as acquisitions.Starting with 75.6 million TEUs in 2014…
DP World Starts Construction of New $1.2B Port in Senegal
The arrival of the dredger Willem Van Rubroeck in Ndayane has marked the start of maritime works for the $1.2 billion Port of Ndayane, a project led by Dubai-owned ports and logistics firm DP World, which aims to transform Senegal into a major center for global trade.The vessel will dredge a 5 km-long shipping channel - an essential step in building this high-capacity port designed to elevate Senegal’s…
DP World Launches Container Port Inset Program
DP World is trialing an innovative carbon reduction program at its UK logistics hubs, London Gateway and Southampton, aimed at helping cargo importers cut their emissions.Starting on 1 January 2025 for an initial six-month trial, the Carbon Inset Program will reward importers with 50kg CO₂e of carbon credits for every loaded import container they move through DP World’s UK terminals. These independently certified credits…
DP World Moving Forward with $1.3 Billion UK Port Investment
Port and logistics firm DP World is going ahead with a 1 billion pound ($1.3 billion) investment in its London Gateway port, Britain's government said on Sunday after reports last week that the company had paused the project in protest.In what had been an embarrassment for the government before a major investor conference, Sky News reported on Friday that DP World had put the planned investment on…
Middle East Tensions Leave Big Dent in DP World's First-half Profits
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…
DP World and Masdar Team Up to Power Port Operations with Renewables
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…
Australia Says DP World Cyber Incident 'Serious'
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…
DP World Puts Cars in Containers
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…
DP World Posts 10% Fall in H1 Profit, Flags Uncertain Trade Outlook
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…
P&O Maritime Awarded Dominican Republic Towage Contract
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…
DP World to Install Innovative BOXBAY Container Storage System in Busan
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…
DP World Invests $35 Million in Port of Santos
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…
Terminal Expansion Boosts Port of Vancouver Container Capacity
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%.
DP World Predicts 15-20% Freight Rate Drop
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
