DP World Plans Logistics Facility in Ethiopia
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.
Expansion Set for Prince Rupert Fairview Terminal
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…
DP World Gross Volume Up 4.8% for 1H 2018
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…
DP World Acquires India's Continental Warehousing
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…
DP World, China Signs Agreement to Boost International Trade
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.
Unifeeder Becomes Part of the DP World
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.
DP World Joins World Ocean Council
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.
DP World’s Net Income Exceed USD 1 Bln for First Time
Dubai-based port and terminal operator DP World announced strong financial results from its global portfolio for the twelve months ending 31 December 2016, despite “significant challenges” in the industry. On a reported basis, revenue grew 4.9% and adjusted EBITDA increased 17.4% with adjusted EBITDA margin of 54.4%, delivering profit attributable to owners of the Company, before separately disclosed items, of $1,127 million, up 27.6%, and EPS of 135.7 US cents. Its volumes have continued to grow ahead of the market with gross volumes growing 3.2% vs. Drewry full year market estimate of 1.3%.
DP World, Indonesian Government Sign Pact to Develop Ports
DP World and Indonesian government and port officials signed an agreement to advise on the development of the Kuala Tanjung greenfield port and logistics zone and Belawan port in North Sumatra. As part of a Technical Assistance Contract, DP World will share its expertise and experience in increasing efficiencies, training and development for employees and developing multi-modal transport hubs. The agreement was signed by DP World Group Executive Vice President and Chief Operating Officer Anil Wats and state-owned port operator PT Pelabuhan Indonesia (Pelindo) I President Director…
DP World Forms JV with Egypt’s Suez Canal
DP World, has formed a joint venture (JV) company with Egypt’s General Authority for the Suez Canal Economic Zone. The new venture will see the global terminal operator assist in developing projects in the SCZone, the main trade route between Europe and Asia, serving more than 8% of annual global trade. The new venture will develop projects in the Suez Canal Zone, one of the most promising trade zones given the calibre of its logistics facilities and its strategic location. The…
Ecuador, DP World Begin USD 1bln Port Construction
The President of Ecuador Lenín Moreno and DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem today performed a ground-breaking ceremony to mark the start of construction of the greenfield multi-purpose port project at Posorja, Ecuador. The ceremony follows the 50-year concession the company won last year from the Government of Ecuador to build a facility with 750,000 TEU (twenty-foot container equivalent) of capacity to fuel the country’s economic growth and connect it with international markets.
DP World to Expand in African Market
DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem has met with Senegalese President Macky Sall as part of a tour of West and North Africa to confirm development of infrastructure projects in the country. The discussions, attended by Prime Minister Mohammed Dionne and senior government officials, confirmed the plan for Port Du Futur with construction to start before the end of 2018 together with agreement on land allocation for the associated freezone. Meanwhile, DP World will also provide a master plan for redevelopment of the old port of Dakar.
DP World to Develop Logistics Plan for Mali
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, met with the President of Mali, Ibrahim Boubacar Keïta, last week to discuss a trade and logistics master plan to unlock the resource rich country’s economic potential. The plan includes a transportation and logistics strategy with electronic customs processes, replicating DP World’s successful model with Dubai Trade at its flagship Jebel Ali Port and Freezone in Dubai. Regional trade in West Africa connects through ports such as DP World Dakar in Senegal to international markets.
DP World in 2071 Ecosystem Initiative
Global trade enabler DP World has been signed on as a founding partner of Area 2071, an innovative ecosystem initiative designed to shape the future of the UAE and position it as the best nation in the world, which is central to achieving the UAE Centennial 2071 Plan. In the presence of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, at a signing ceremony at Emirates Towers, DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, committed the company’s support to the future-focused initiative.
DP World Reports 13.5% Container Volume Hike in Q3
DP World Limited handled 52.3 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first nine months of 2017, with gross container volumes growing by 10.0% year-on-year on a reported basis and 9.6% on a like-for-like basis. The third quarter growth rates accelerating to 13.5% year-on-year on a reported basis and 13.3% on a like-for-like basis, ahead of second quarter growth and Drewry Maritime’s upgraded industry estimate3 of 5.5% throughput growth in 2017.
DP World Santos Appoints Dallas Hampton as New CEO
The Brazilian terminal DP World Santos will now be run by the new CEO Dallas Hampton, , an Australian executive with degrees in Business Administration, Logistics and Occupational Safety and with vast experience in the ports and logistics sectors. The modern private port terminals, situated on the left bank of the Port of Santos, announced that Ernst Schulze, who served as Chief Executive Officer for nearly six years, is stepping down to assume another opportunity at the DP World group.
DP World, India’s NIIF to Create USD 3 bln Investment Platform
The National Investment and Infrastructure Fund (NIIF), India’s first sovereign wealth fund, and Dubai-based ports operator DP World have announced the creation of an investment platform to invest up to $3 billion in ports, terminals, transportation and logistics businesses in India. The partnership follows the Memorandum of Understanding (MoU) signed in May 2017 and the visit to India of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, in February 2016.
DP World, Panama to Strengthen Ties
Trade infrastructure development to diversify Panama’s economy and DP World’s international experience in over 40 countries were at the centre of discussions held in Dubai yesterday between the global trade enabler’s Group Chairman and CEO Sultan Ahmed Bin Sulayem and Panamanian President Juan Carlos Varela. As part of his visit, Mr. Varela was taken on a tour of DP World’s flagship Jebel Ali Port and Free Zone, including Terminal 3, which is among the world’s most productive and technologically advanced…
Ethiopia Acquires 19% Stake in DP World Berbera Port
United Arab Emirates-based maritime conglomerate DP World has announced that Ethiopia will become a shareholder of the Port of Berbera in Somaliland, a crucial site for Middle Eastern trade, strategically located along the oil route. As the biggest shareholder of the port of Berbera, DP World announced that it would hold 51 percent stake of the project, the Somalis, 30 percent, and Ethiopia, the remaining 19 percent. The government of Ethiopia will also invest in infrastructure to develop the Berbera Corridor as a trade gateway for the inland country…
DP World Post 7.3% Volume Growth
Dubai state-owned port operator DP World Limited said it handled 17.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2018, with gross container volumes growing by 7.3 percent year-on-year on a reported basis, and 8.4 percent on a like-for-like basis."Following a strong year for the global container market in 2017 with peak levels since 2011, our portfolio has had an encouraging start to 2018 delivering ahead-of-market growth.
DP World Sets Its Sights on Hyperloop Cargo Shipping
Dubai-based port operator DP World has partnered with Sir Richard Branson’s Virgin Hyperloop One to create a new venture that aims to provide hyperloop-enabled cargo systems.DP World and the U.S.-based Virgin Hyperloop One introduced their vision for “the future of on-demand freight transportation” at an event on April 29 at the historic vessel Queen Elizabeth 2.The joint venture, called DP World Cargospeed, will set out to be the world’s first to ship cargo with hyperloop technology.
DP World Opens Limassol Passenger Terminal
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.
DP World to Develop Egypt Port Terminal
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.