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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
DP World to Invest Around $500 Million to Reduce CO2 Emissions
Dubai-owned ports giant DP World intends to invest around $500 million to reduce carbon dioxide emissions in its operations by 700,000 tonnes over the next five years, state news agency WAM reported on Monday, citing the company's chairman and CEO Sultan Ahmed Bin Sulayem.DP World's plans include transitioning its global fleet from diesel to electric power, investing in renewable energy, and exploring fuel alternatives, Sulayem said via video conference during the COP27 summit in Egypt, WAM adde
DP World Begins Building New Berth at London Gateway
Work has started on site to build a new fourth berth at DP World's London Gateway smart logistics hub, the Dubai-owned ports giant announced on Monday.Scheduled to be completed in 2024, the £350 million project will lift London Gateway’s capacity by a third, giving it more room to handle the world’s largest vessels.DP World, which operates two U.S. deep water ports at London Gateway and Southampton…
Construction Begins for Congo's First Deep-water Port
Democratic Republic of Congo President Felix Tshisekedi on Monday launched the construction of the country's first deep-water port, a $1.2 billion project that has drawn criticism for being built on the edge of a protected wetlands.Banana Port, to be built by Dubai's port giant DP World, will border Congo's Mangrove Marine Park, a nature reserve that contains a variety of vulnerable or endangered plant and animal species.The port at Banana, a sandy spit of land at the mouth of Congo River, will
DP World to Build Dry Port in India's Jammu and Kashmir
Dubai ports giant DP World is set to build an inland port in Jammu and Kashmir as part of plans by the emirate to invest in the Indian territory, the head of the region said on Thursday.The Indian government last year said Dubai, part of the United Arab Emirates (UAE), would invest in infrastructure and other projects in the disputed region claimed by India and Pakistan but ruled in parts by both.Jammu and Kashmir Lieutenant Governor Manoj Sinha…
DP World Optimistic for 2021 Amid Pent-up Demand
Ports operator DP World gave an optimistic outlook for 2021 on Thursday, citing pent-up demand for cargo and an easing of geopolitical tensions after the change of U.S. administration.Sultan Ahmed bin Sulayem, who is chairman and chief executive of the Dubai state-owned global ports operator, said that demand and supply chain capabilities had also improved as a result of the coronavirus pandemic.“You are always cautious ...
DP World Acquires Majority Stake in UNICO Logistics
Dubai-based DP World said it has agreed to acquire a 60% stake in South Korea's UNICO Logistics Co. Ltd. as the firm continues its expansion across the worldwide end-to-end logistics supply chain. The transaction, subject to regulatory clearances, is expected to close in the fourth quarter of 2020.Established in 2002 by H.J. Park and headquartered in South Korea, UNICO is one of the largest independent NVOCC (Non-Vessel Operating Common Carrier) in South Korea…
DP World Completes Integration of Unifeeder and Feedertech
DP World announce Tuesday it has finished integrating its recent acquisitions Unifeeder and Feedertech, creating a feedering and shortsea network serving hundreds of ports across the globe.Unifeeder, which recently acquired Feedertech, operates feeder and shortsea services around northern Europe and throughout the Mediterranean and Northern Africa regions. Feedertech provides similar services connecting ports in Southeast Asia, the Indian subcontinent and the Middle East.
Autonomous Security Surveillance Boat Launched in the UAE
DP World, UAE Region’s next-generation security solutions provider World Security has launched the first autonomous security surveillance boat in the Middle East to upgrade security and surveillance at Jebel Ali Port, Mina Rashid, Mina Al Hamriya and other facilities in the UAE.The state-of-the-art boat introduces an extra dimension to World Security's portfolio of solutions, demanded by the uncertainty…
DP World Berbera Orders 8 RTG Cranes
Liebherr Container Cranes and DP World Berbera have signed a contract for the supply of eight RTGs for DP World’s terminal in Berbera, Somaliland. The cranes are due to be ready for operation before the end of 2020.The high performance, variable speed diesel RTGs are six containers plus a truck lane wide and will stack one over five containers high. The machines are supplied with DGPS autosteering and stack profiling.
DP World Expresses Concern on Future
Dubai state controlled port operator DP World's revenue grew 36.1% in 2019, but it says the near-term outlook remains “a cause for concern” due to global trade disputes…
DP World Buys North American Terminal
Dubai-based port operator DP World announced it has completed the acquisition of Fraser Surrey Docks in Canada from Macquarie Infrastructure Partners (MIP) alongside…
DP World to Delist from Nasdaq Dubai
DP World, one of the world’s largest port operators, is delisting from the Nasdaq Dubai and returning to fully private ownership.According to a press release, the…
DP World Acquires Ukraine's TIS Terminal
Marine cargo handling company DP World has agreed to acquire a majority 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine, subject to the satisfaction of certain conditions…
DP World Acquires 44% Stake in Swissterminal
Dubai-based global ports operator DP World has taken a 44% stake in Frenkendorf-headquartered Swissterminal Holding, the container terminal operator in Switzerland.The…
DP World to Invest $500 in Jeddah Port Upgrade
The global port operator DP World has been awarded a 30-year Build-Operate-Transfer (BOT) concession by the Saudi Ports Authority (Mawani), for the management and…
DP World Creates New Maritime Entity
Following DP World’s recent acquisition of Topaz Energy and Marine and its integration with P&O Maritime created a new brand P&O Maritime Logistics - a global provider…
DP World Raises $2.3Bln, Rings Nasdaq Bell
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of the global port operator DP World, rang the market-opening bell at Nasdaq Dubai to mark the listings of two sukuks…