Dubai Ports News

DP World chairman and CEO Sultan Ahmed Bin Sulayem has resigned with mounting pressure over his alleged ties to Jeffrey Epstein.Bin Sulayem, one of the Middle East's most prominent business figures, is among the highest-profile executives to face scrutiny and be removed from senior roles following the recent release of the Epstein files.Dubai's ruler on Friday also issued a decree appointing a new chairman for Dubai's Ports, Customs and Free Zone Corporation, one of several roles previously held by Bin Sulayem.Members of the U.S.

A strike by dockworkers on the U.S. East Coast and Gulf Coast that disrupted much of the nation's ocean shipping this week ended on Thursday, but a key issue driving labor unrest across the continent - the growing use of automation - was unresolved.Companies view automation as a path to better profit while unions see it as a job-killer. For North American dockworkers battling automation, Europe's port worker contracts may point a way to resolve the issue.Some 45,000 port workers…

Britain said on Monday it will force ferry operators docking in its ports to pay the minimum wage as it stepped up pressure on P&O Ferries to rehire 800 workers who the company fired without notice in favor of cheaper staff.P&O, which is owned by Dubai ports firm DP World, said it had decided to break the law and fire workers on the spot so it could instead hire cheaper agency staff after losing 100 million pounds ($132 million) last year due to COVID-19 curbs.The Conservative government of Prime Minister Boris Johnson has condemned the move…

British Prime Minister Boris Johnson said on Wednesday he believed that P&O Ferries had broken the law by sacking 800 staff with immediate effect via video message and that the government would take legal action.P&O, which is owned by Dubai ports firm DP World, said last week it had lost 100 million pounds ($131 million) in the last year and that without changes its business was not sustainable."It looks to me ... as though the company concerned has broken the law, and we will be taking action ...

Trade unions protested at British ferry ports on Friday after Dubai-owned P&O Ferries abruptly sacked 800 workers via a video message, drawing widespread condemnation and raising the prospect of disruption to key tourist and goods routes.P&O, which is owned by Dubai ports firm DP World, is recovering from a difficult two years when COVID-19 prevented tourists from travelling on its routes between Britain, France, Ireland and elsewhere in northern Europe.P&O said on Thursday it had lost 100 million pounds ($131 million) in the last year and that without changes its business was not sustainable.

Britain's P&O Ferries made 800 staff redundant with immediate effect and suspended crossings for the next few days, sparking a backlash from politicians and unions over reports it would hire cheaper agency workers instead.The shock move caused delays around Britain's busiest port, Dover, and drew threats of a standoff as trade unions urged their members to defy any instructions to leave P&O ships.Owned by Dubai ports firm DP World, P&O is recovering from two years of disruption when COVID-19 prevented tourists from travelling on its routes between Britain…

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, who is in Dubai this week to promote investment…

There is no end in sight to the shortage of shipping containers, port congestion and sky rocketing freight rates that have rattled global trade, the chairman of Dubai ports giant DP World said on Wednesday. The bottlenecks have been caused by a combination of COVID-19 lockdowns and an unexpectedly rapid recovery in demand as economies emerge from the pandemic.“These are the complications. Nobody knows how long it’s going to take.

Dubai ports giant DP World sees no early end to disruptions in global supply chains that have set off delays at ports and logistics hubs around the world, its chairman said on Friday.The disruptions, a result of pandemic lockdowns and an unexpectedly rapid recovery in demand, have also led to shipping container shortages and skyrocketing freight rates."I really don't think it's going to be resolved this year, DP World's Sultan Ahmed bin Sulayem told Reuters on the opening day of Expo in Dubai…

The Ports, Customs and Free Zone Corporation (PCFC), in cooperation with Dubai Maritime City Authority (DMCA), have launched the Marine Agency to oversee wooden dhow ships and regulate all their activities while they’re in Dubai waters. The agency is an organizational unit managed by PCFC and works according to regulations in coordination with the competent government authorities. The move is part of PCFC’s constant efforts to strengthen Dubai’s trade environment and maintain…

The Department of Transport in Abu Dhabi signed a Memorandum of Cooperation (MoC) with the Dubai Maritime City Authority (DMCA) with an aim to promote the development, consolidation and regulation of the maritime sector based on competitiveness, sustainability, excellence and innovation.The MOC is a result of relentless efforts by both parties to establish effective strategic partnerships to elevate the UAE’s position as one of the world’s best maritime centers.The agreement was signed by Sultan Ahmed bin Sulayem, Group Chairman and CEO of “Dubai Ports World (DP World)” Chairman of “Dubai Maritime City Authority” and His Excellency Khalifa Bin Mohammed Al Mazrouei…

Dubai Ports (DP) World, the global port operator of the United Arab Emirates (UAE),   and the government of Kazakhstan signed two framework agreements in Abu Dhabi today relating to the acquisition, governance and management of 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, and Khorgos SEZ, which is strategically situated on the China-Kazakhstan border and has been acting as the primary transit point for trans-Eurasian cargo trains for more than four years. DP World now plans to acquire a 51% stake in the Khorgos SEZ and 49% in the Aktau SEZ following the agreements signed today…

Somalia has banned Dubai ports operator DP World from operating in Somalia, saying that a contract that the company signed last year with the breakaway Somaliland region to develop an economic zone is null and void. It is unclear how Somalia's federal government could enforce the ban given Somaliland's semi-autonomous status. But parliament's unanimous passing of the resolution banning DP World from working in the country underscored growing rivalries in the strategic Horn of Africa region over the Dubai state-owned port operator's investments.

The United Arab Emirates (UAE) condemned Djibouti’s cancellation of DP World’s contract to run the Doraleh Container Terminal, calling it an “arbitrary” flouting of a signed agreement, said a report in Bloomberg. Media reports yesterday said that Dubai has accused Djibouti of illegally seizing a port operated by one of its state-owned shipping companies and started legal action against the African government. “Djibouti government’s seizure of the Doraleh port is regrettable,’’ Minister of State for Foreign Affairs Anwar Gargash wrote on Twitter. According to a press statement from DP World, the Government of Djibouti illegally seized control of the Doraleh Container Terminal from a Dubai Ports World (DP World) owned entity that designed…

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. Ernst was responsible for installing the Embraport terminal at the Port of Santos, forming the work teams and starting operations in July 2013. Dallas…

Chairman of the Suez Canal Authority Mohab Mameish and CEO of DP World Sultan Ahmed Bin Sulayem signed an initial partnership agreement in the UAE to establish a major development company for the development of Ain Sokhna, Al-Ahram daily reported. The partnership was first announced in August following talks between Egyptian President Abdel-Fattah El-Sisi, CEO of DP World Sultan Ahmed Bin Sulayen and Mamish. The Suez Canal project includes the development of a 460 square-kilometer economic zone around the canal that the government says will be develop as an international industrial and logistics hub that will attract ships and generate foreign investment.

Dubai ports operator DP World is not concerned about U.S. President Donald Trump's protectionist policies, DP World's chairman Sultan bin Sulayem told reporters on Sunday. "Not at all. I think this is a phase. I think the sentiment that you see in America is ... in many parts of the world but this is something is going to pass," bin Sulayem said on the sidelines at a conference in Dubai. (Reporting by Alexander Cornwell, writing by Hadeel Al Sayegh; Editing by Toby Chopra)

Dubai ports operator DP World said on Monday it was partnering with Canadian pension fund manager Caisse de dépôt et placement du Québec to create an investment vehicle worth US$3.7 billion that would invest in ports and terminals worldwide. DP World will hold a 55 percent share in the vehicle while Caisse de dépôt, a long-term institutional investor that manages funds for public pension and insurance plans, will own 45 percent. The platform will have "a focus on investment-grade countries" excluding the United Arab Emirates, and will invest mostly in existing assets but with up to 25 percent in greenfield opportunities, DP World said. The vehicle will be seeded with two of DP World's Canadian container terminals located on the Pacific coast in Vancouver and Prince Rupert, it added.

Dubai ports operator DP World is  working with customers to minimise disruption following the collapse of Hanjin Shipping, reports National. About ten ships operated by the Korean company are currently in Dubai’s Jebel Ali Port according to Hanjin data. Two other ships have arrived in Abu Dhabi’s Khalifa Port Container Terminal. "While we don’t publish data on client receivables, following Hanjin Shipping’s decision to file for court protection, we have been working with our customers and partners to minimise impact on world trade," The National quoted a DP World spokesman as saying. The filing for receivership is still at an early stage and DP World notes that the exact form of the proposed restructuring plan is still unknown.

Global marine container terminal operator DP World  will help to expand the development of Kaohsiung Port’s Terminal 7, which is owned by the state run Taiwan International Ports Corporation (TIPC), in an effort to increase its Asian portfolio. The Dubai ports operator signed a memorandum of understanding with TIPC to develop the terminal. Financial terms were not disclosed. As the first global operator entering the Taiwan market, DP World will bring to the table its international expertise and experience of over four decades spanning a portfolio of 77 inland and marine terminals and handling more than 170,000 TEU a day. Kaohsiung Port enjoys a key geographical location, is an excellent natural harbor and was once among the world’s top container ports.

DP World has announced plans to build a new marina for luxury yachts at Port Rashid in Dubai. The project comes in response to an increased demand for luxury yachts. Tenders for construction will be invited soon. The first phase of the project is scheduled to open by 2018, with a capacity of more than 400 boats and sailing yachts with lengths in the range of 15 to 35 metres. The second phase will be for luxury yachts berth with length of more than 100 metres. Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation and Chairman of the Dubai Ports World, said, "The corporation will develop Port Rashid Marina as an integral part of its commitment to supporting the diversification of the economy of the UAE…

Dubai ports operator DP World and the Russian Direct Investment Fund (RDIF) have launched a new joint venture aiming to invest in ports, transportation and logistics infrastructure in Russia, they said in a statement on Thursday. Under the name DP World Russia, the new company will focus on marine, dry ports and logistics infrastructure with potential total investments of $2 billion. Reporting by Oksana Kobzeva

Suez Canal Authority (SCA) and the Red Sea Ports Authority signed an agreement with Dubai Ports World (DP World) and Sonker Bunkering Company for the development of Egypt’s Ain Sokhna seaport, reports Egypt Independent. The signing of the deal comes in line with directives by Egypt’s President Abdel Fattah al-Sisi to upgrade the sea port’s status as part of the broader scheme to develop the Suez Canal region, SCA chief Mohab Mamish said. The joint venture will be responsible for installing a new harbor parallel to the current oil tanker harbor over a period of one year, Mamish said. He added that the undertaking would facilitate the exchange of petrochemical and gas products.