Dp World Group News

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 and the coronavirus outbreak.DP World, one of the world’s largest port operators, made $1.34 billion last year compared to $1.33 billion in 2018, it said in a bourse filing. Revenue rose 36.1% to 7.7 billion."However, the global trade outlook remains uncertain due to supply chain disruption caused by Covid-19 outbreak," it said in a press note."However, DP World is well positioned to respond in the short term by focusing on disciplined investment and managing the cost base to protect profitability.

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 development of the Jeddah South Container Terminal at the multi-purpose Jeddah Islamic Port.According to a press release from the UAE-based world leader in global supply chain solutions, under the agreement, DP World will invest up to $500 million to improve and modernize the Jeddah Islamic Port, including major infrastructure development to enable the Port to serve the ultra-large container carriers (ULCC’s), which are considered the world’s largest mega containerships.Established in 1976, the Jeddah Islamic Port is on the red sea and the largest port in the Kingdom of Saudi Arabia with annual volumes of over 6 million TEU’s.

Denmark’s Short-sea operator Unifeeder , part of the global port operator DP World, has acquired a 77% stake in The Feedertech Group, a Singapore-based feeder and shortsea operator.The Group’s Chairman, Ali Maghami, will retain the remaining 23% shareholding.Established in 2003, the Group operates two companies; Feedertech, which is a feedering service and Perma, a regional shortsea network. Both operate in the same market and connect the fast-growing trade route of Asia-Middle East via the Indian Subcontinent.The Group generates annual revenue of close to $200m from a diversified customer mix, calls at 50 ports and transports over 600k TEU annually.“The Feedertech Group has enjoyed great success over the years and we are proud of our achievements.

The $538 million first phase of the new Deepwater Port of Posorja in Ecuador by global trade enabler, DP World, is now completed and successfully operational.The overall $1.2 billion project will replicate Dubai's Jebel Ali Port and freezone, making Ecuador a trade and logistics hub for South America's west coast, and opening a gateway for large container ships with capacities exceeding 10,000 TEUs.Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, visited the facility to assess progress of the project, which is one of the largest international investments in Ecuador. The port has already been operational for two months, handling thousands of containers and more than a dozen post-panamax ships.Posorja is expected to welcome an annual volume of 750…

Dubai International Ports Group (DP World) announced a strong financial results for the first six months of the year ended June 30, 2019 and its profits soared by 27% to US$753.Acquisitions and growth in non-containerized revenue helped revenue climb to $3.46 billion, although on a like-for-like, constant currency basis the revenue increase was 11 percent, said the Dubai-based company.Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “DP World is pleased to report like-for-like earnings growth of 22% in the first half of 2019 and attributable earnings of $753 million. This strong financial performance has been delivered in an uncertain trade environment…

The global port operator DP World has accused the government of Djibouti of “complete disregard and contravention” of the global legal system as it plans to rule all international adjudications on the Doraleh Container Terminal null and void."A decision to be taken later this week by the government of Djibouti to apply to the country's high court to rule all previous international adjudications null and void is a complete disregard for and contravention of the global legal system and existing contracts," a DP World statement said.The move is proof of Djibouti’s complete disregard for recognized legal practice and respect for contracts calling into question any investment in the country both now and in the future…

DP World and Indonesia’s leading conglomerate Maspion Group have signed two preliminary agreements to create a $1.2 billion container port and industrial logistics park in East Java.It is the first joint venture of its kind in the Indonesian transportation sector involving a private sector partnership between an FDI partner and a private sector Indonesian company in Maspion, within the context of cooperation in maritime services with the state-owned maritime services operator Pelindo III. Two term sheet agreements aim to create a modern, integrated container terminal and industrial logistics park, expected to play a vital role as a trade gateway for Eastern Java.It includes cooperation in setting up Maspion International Container Port in Gresik…

Brazil Minister of Foreign Affairs, Ernesto Henrique Fraga Araujo met with the global port operator DP World Group's Chairman and CEO, Sultan Ahmed bin Sulayem in the Brazilian capital, Brasilia this week.They discussed social reform, a stable and efficient regulatory framework to attract investors alongside public private partnerships to encourage foreign direct investment (FDI). The meeting preceded Mr. Bin Sulayem’s discussions with President Jair Bolsonaro during the visit.DP World Santos, Brazil, is a key part of the global trade enabler’s operational network in the region.The company has major interests across Latin America with services to cargo owners and shipping lines at five key gateways on the west coast of South America in Posorja (Ecuador)…

Global ports operator DP World and industrial engineering firm SMS Group announced "Boxbay", a new and 'smart' shipping container storage system that aims to change the way that containers are handled in ports.The patented design and rack structure of the system creates unique advantages with containers stored up to eleven stories high, delivering the capacity of a conventional terminal in a third of the surface area.By being fully automated it has direct access to each container, eliminating unpaid and unproductive reshuffling. It also features significant gains in handling speed, energy efficiency, safety and a major reduction in operating…

The global port operator are in discussions with Kazakhstan government to invest in new infrastructure in the country’s ports and logistics sectors.The potential of DP World investing in new infrastructure in Kazakhstan’s ports and logistics sectors was the focus of discussions between global trade enabler DP World’s Chairman and CEO Sultan Ahmed Bin Sulayem and Kazakhstan’s Prime Minister H.E. Askar Mamin in Astana today.This follows the signing of two framework agreements with the government of Kazakhstan for Special Economic Zones (SEZ) in Aktau and Khorgos.DP World has been providing management services to the Port of Aktau, Kazakhstan’s main cargo and bulk terminal on the Caspian Sea…

Dubai-based port operator DP World says it has acquired additional assets in DP World Australia (DPWA), giving the firm a majority stake in its Australian terminals.The percentage of what has been acquired from Gateway Infrastructure Investments and other financial investors is still being finalized and subject to regulatory approval. However, it valued DPWA at an enterprise value of approximately AU$1.4 billion (US$ 997 million).Following the closure of the transaction, DP World Australia will become a consolidated entity within the DP World Group and is expected to be earnings neutral in the first full year of ownership. The acquisition is expected to close in Q1 2019.Corsair Infrastructure Partners (CIP)…

Dubai-based port operator DP World says it will buy a 71.3 percent stake in Chile's Puertos y Logistica SA, taking control of two key port terminals in the South American state.According to a filing on Nasdaq Dubai, where the state-owned port operator is listed, the group bought the 71.3% stake from Minera Valparaiso and other shareholders associated with Chilean conglomerate, the Matte Group.The statement quoted DP World Group chairman and CEO Sultan Ahmed bin Sulayem as saying the deal allows his firm now to serve customers at five key points in South America."Under the tender process DP World will offer [US$502mn] in consideration for 100% equity ownership. As of 30 September 2018, Pulogsa had net financial debt of $226m.

DP World has joined forces with industrial engineering company SMS Group for  the 'high-bay storage' system for shipping containers.An international joint-venture formed by global trade enabler DP World and industrial engineering specialists SMS group will revolutionize the way that containers are handled in ports. A new and intelligent storing system will be applied for the first time ever at Jebel Ali Terminal 4, in time for the Dubai Expo 2020 world fair.The High Bay Storage system was originally developed by SMS group subsidiary AMOVA for round the clock handling of metal coils that weigh as much as 50 tons each in racks as high as 50 meters.

Global port operator DP World says it has completed the acquisition of Danish logistics firm Unifeeder for $748 million.DP World’s full acquisition of Unifeeder Group from Nordic Capital Fund VIII was announced in August, but finalized on Thursday."DP World PLC is pleased to advise that it has closed the transaction to acquire 100% of Unifeeder Group from Nordic Capital Fund VIII and certainminority shareholders," said one sentence statement from the Dubai-based global marine terminal operator."Unifeeder Group is now part of the DP World Group, a leading enabler of global trade and an integral part of the supply chain," said a statement…

Dubai-based port and terminal operator DP World said that its gross volumes rose 4.8 percent to USD 35.6 billion s for the six months to 30 June 2018,  despite uncertainties in the container market. On a reported basis, revenue grew 14.4%.Revenue growth is supported by the volume growth across all three regions and the impact of new acquisitions including Drydocks World LLC (Drydocks), Dubai Maritime City (DMC) and Cosmos Agencia Marítima (CAM).Profit attributable to owners of the Company before separately disclosed items has dropped 2.1%on a reported basis but grew 5.2% on a like-for-like basis.DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem…

Following last week annoucement of acquisition, Unifeeder Group has announced the signing of the agreed acquisition of Unifeeder by DP World.The largest Pan-European feeder and shortsea operator announced in a press release that it will benefit from DP World’s global scope, size and presence which in turn will enable Unifeeder’s brands to expand further and beyond present geographies and products.Unifeeder will continue to operate on a fully independent, multi-user basis under its current existing management, and expects to see additional growth as a consequence of the transaction. The well-known Unifeeder attributes of agility, flexibility…

An agreement to jointly construct a new ‘Traders Market’ at DP World’s flagship Jebel Ali Port and Free Zone in Dubai on a total build up area of three million square metres has been signed between the global trade enabler and the Zhejiang China Commodities City Group, providing further impetus to China’s Belt and Road Initiative.DP World will be building the ‘Traders Market’ within the Jebel Ali Free Zone Area located in Jafza South next to the Dubai Expo 2020 site.The market will include clusters of traders from all over the world, offering a wide range of products at one site. They will be divided by sector, ranging from household goods…

Hindustan Infralog (HIPL), a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), announced that the transaction to acquire 90% stake in Continental Warehousing Corporation (Nhava Seva) Ltd in India has now closed.CWCNSL’s founders, the Reddy family, will retain the remaining 10% shareholding and will remain involved in the business operations. It is the first investment of HIPL, the recently created investment vehicle between DP World and NIIF to invest up to US$ 3 billion in ports, logistics and related sectors.DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: “We’re pleased to announce the completion of this acquisition and look forward to beginning this new growth journey, enabling India’s great commerce and trade potential.

Dubai-based ports operator DP World has revealed plans to set up a logistics facility in landlocked Ethiopia, a move that comes as the company is developing a port in neighboring Somaliland. A reuters report quoting the United Arab Emirates state news agency, WAM said that the Sultan bin Sulayem, DP World Group's chairman & CEO and chairman of Ports, Customs and Free Zone Corporation informed the media that the logistics complex in Ethiopia to cater to the landlocked African countries. Business groups in Dubai can always benefit from DP World's presence in different countries, including Rwanda and Egypt, where re-exporting opportunities are abundant, bin Sulayem quoted as saying.

The Port of Prince Rupert and DP World have agreed on terms of a project development plan that outlines the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal. The Phase 2B expansion will increase annual throughput capacity at Canada’s second largest container terminal to 1.8 million TEUs (twenty-foot equivalent units) when complete in 2022. DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: “Canada is an important part of our global network and we are delighted to confirm these plans, which underline our commitment to Prince Rupert, which plays a major role in enabling trade in the region and across the west coast with rail connections inland to the rest of the country and the United States.

Global trade enabler DP World has become the first company in its sector to join the World Ocean Council (WOC) as part of its leadership journey to actively engage in the protection of the world’s oceans. By becoming a member of the growing international multi-industry alliance on “Corporate Ocean Responsibility” DP World will commence, enhance and advance our role as a responsible leadership company. The WOC is a global, cross-sectoral business leadership alliance with a network of over 35,000 stakeholders addressing corporate ocean responsibility. Developed by and for the private sector, it addresses issues affecting ocean sustainable development, science and stewardship.

A Memorandum of Understanding (MoU) agreed by DP World, Egypt’s Holding Company for Maritime and Land Transport and the Suez Canal Authority is aiming to develop a new Inland Container Depot (ICD) in Egypt’s 6th of October City, a satellite town in the Giza Governorate and part of the urban area of Cairo. The three partners will bid for the government contract for the project later this year. The proposed ICD will increase the flow of cargo between ships and major land transportation networks in the country, creating a central distribution point. Under the MoU, DP World will lead and represent the alliance in the bidding process and become the ICD operator if the tender is won.

The new cruise passenger terminal at DP World Limassol was inaugurated today by Cyprus President, His Excellency Mr. Nicos Anastasiades; Minister of Transport, Communications and Works, Mrs. Vassiliki Anastassiadou; the Mayor of Limassol, Nicos Nicolaides and DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem. The operational opening of the terminal was attended by almost 300 guests and will enable the largest cruise ships in the world to visit the country for the first time. It provides world-class facilities and services for passengers and features seven pods with a total floor area of 8,205 m2. The terminal is designed to facilitate both Transit (day call) and Turnaround (home porting) services.