Jebel Ali Free Zone News

In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s oil trade.Within weeks, a little-known company based in the United Arab Emirates took over management of several tankers that had been shipping Venezuelan oil. The vessels got new names. And then they resumed transporting Venezuelan crude.The company, Muhit Maritime FZE, is one of three UAE-based entities identified by Reuters that have shipped Venezuelan crude and fuel during the second half of this year. Their role emerges from an examination of internal shipping documents from Venezuela’s state oil company as well as third-party shipping and vessel tracking data.

Dubai based logistics giant DP World has signed a memorandum of understanding (MoU) to develop a free economic zone for industry and logistics in Namibia.The port operator said the agreement with Namibia’s Nara Namib Free Economic Industrial Zone will support the growth of Namibia as a regional hub for southern Africa.The development will help Namibia grow as a center for industrial operations and logistics, creating opportunities and jobs across multiple sectors including agriculture, fishing, automotive and mining.The facility at Walvis Bay will provide businesses with development-ready land for industrial and logistics operations…

Trelleborg’s marine and infrastructure operation has relocated its headquarters and Dubai marine fender sales operation to Jafza One, a new, premium commercial complex in the heart of Jebel Ali Free Zone, Dubai in the UAE.The move to a larger office space follows the formation in quarter one 2019 of Trelleborg’s marine and infrastructure operation, formerly Trelleborg Marine Systems. In addition to its marine solutions, the operation has widened its remit to include Trelleborg’s infrastructure operation as well as its Qingdao-based sales office and manufacturing facility…

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…

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. Area 2071 will be an important vehicle in realising the five-decade, nation-wide plan by focussing on its four main tenets: education, economy, government development, and community cohesion.

DP World, one of the world's largest port operators, reported a 50 percent leap in net profit for the first half of this year on Thursday, helped by the acquisitions of the Dubai's Jebel Ali Free Zone and Canada's Fairview Terminal. The company made a profit attributable to shareholders of $608 million in the six months to June 30, compared to a profit of $405 million in the corresponding period last year. EFG Hermes had forecast the company would make a quarterly profit of $432.9 million. DP World's revenue for the first half was $2.09 billion, up from $1.90 billion a year earlier. In July, the company said consolidated throughput for the period was 14.6 million TEUs (twenty-foot equivalent units), down 1.4 percent from a year earlier on a like-for-like basis.

Company blames softer market conditions; plan to add 1.5 mln TEU to Terminal 3 delayed into 2017. DP World, one of the world's largest port operators, is delaying the expansion of Dubai's Jebel Ali port, its main facility, because of softer market conditions, the company said on Thursday. A plan to add 1.5 million 20-foot equivalent units (TEU) of annual capacity to Terminal 3 at Jebel Ali will be delayed into 2017, while expansion of Terminal 4 will also be slowed, DP World said without giving details. The company had announced in July 2015 that it would invest $1.6 billion in Terminal 4, which was to be completed by 2018. Jebel Ali handles shipments not only for the United Arab Emirates but for much of the region.

Global trade enabler DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem spoke at China’s Belt and Road Summit in Hong Kong this week highlighting the need for better international cross-sector connectivity in order to realise the significant trade potential. Speaking on a panel entitled ‘Enhancing cross-sector connectivity along the Belt and Road’ he stressed the impact on global trade that economic cooperation can bring, with more than 60 countries involved in the One Belt One Road (OBOR) initiative. The OBOR includes 30% of the world’s countries home to 70% of its population, 55% of global GNP and 75% of total energy reserves.

Press release - DP World’s flagship Jebel Ali Port has retained its leadership position by winning the Best Seaport – Middle East Award for the 21st year in a row at the Asian Freight, Logistics and Supply Chain Awards (AFLAS) 2015 in Hong Kong. The award was received on behalf of the global marine terminal operator by Rashid Abdulla, Senior Vice President and Managing Director, DP World Asia Pacific Region. Asia Cargo News magazine, the organizers of AFLAS, picked the winners through a nomination and voting process where more than 15…

Taiwan’s Evergreen Marine Corp. has authorized one of its huge container ships to berth at Shahid Rajaei port in southern Iranian province of Hormozgan, reports Press TV. Ebrahim Idani, director general of Hormozgan Ports and Maritime Department, was quoted by Iranian media as saying on Tuesday that the fifth-generation container ship, Ever Legion, has started its journey from China’s Shanghai port and will call at various ports in Hong Kong, Taiwan, Malaysia, Sri Lanka, and the United Arab Emirates’ Jebel Ali Free Zone before berthing at Shahid Rajaei port, which is Iran's biggest container port. The official noted that the Taiwanese ship is 335 meters long with a draft of 14.5 meters and is scheduled to arrive at Shahid Rajaei port on August 5.

EZW purchase funded from existing cash and loan facilities; DP World will also take about $859 million of EZW's debt. DP World said on Thursday it would pay $2.6 billion to major shareholder Dubai World for its EZW logistics infrastructure firm, easing the burden on the state conglomerate ahead of a $4.4 billion debt repayment next year. The deal is the latest example of Dubai's 'asset shuffle', where profitable state-owned firms have bought assets from those still struggling after the emirate's debt crisis at the turn of the decade. Dubai World is due to repay $4.4 billion in May, but is in negotiations with creditors to bring this payment forward in exchange for more time to meet a much larger payment scheduled for 2018, as well as other inducements.

CEVA Logistics, one of the world’s leading global supply chain management companies, today announced the official opening of the City of Energy in the United Arab Emirates. The hub, which covers an area of 27,000 sqm of warehouse space and 10,000 sqm of yard space, is strategically located in Jebel Ali Free Zone in Dubai and is fully dedicated to the warehousing and handling of oil and gas products for the Energy sector. The cutting-edge logistics platform is unique in the Middle East, being the first logistics company with a facility dedicated solely to the oil and gas market. The City of Energy will house CEVA’s oil and gas customers and will be home to CEVA’s dedicated Oil & Gas and project logistics team.

GE Oil & Gas today celebrated the ground-breaking of a new facility that will further expand its presence in the UAE in Jebel Ali Free Zone (Jafza). Scheduled to open in 2015, the new facility spreads over an area of 22,700 sqm and can accommodate over 300 employees. A milestone in the expansion of GE Oil & Gas in the country and the region, the new facility will offer services by GE Oil & Gas’ various business units, thus strengthening customer service standards. Housed in a customized state-of-the-art facility developed by Jafza, the new GE Oil & Gas Manufacturing & Technology Center will offer tailored training programs, and also feature a dedicated repair center that will help improve the speed of service delivered by being closer to the customers.

Leading maritime ropes supplier, Lankhorst Ropes is opening its first branch office in the Arabian Peninsula at Dubai in the United Arab Emirates, at the beginning of April. The new office will provide sales and technical support to the growing number of Lankhorst customers in the region. The Dubai office brings to eight the number of Lankhorst Ropes sales offices globally. Lankhorst Ropes supplies both synthetic and steelwire rope to maritime companies. With increasing commercial and environmental demands on maritime operators…

Transworld Group of Companies (TGC), an international logistics and shipping specialist, announced in December that it had awarded a $80m shipbuilding contract to Guangzhou Wenchong Shipyard (GWS) in a ceremony held at the company's headquarters in Jebel Ali Free Zone, Dubai. The group is aiming to strengthen its fleet to address the growing demand for sea cargo transportation and fully leverage the booming shipping and maritime industry in the Middle East. The 175 metre ships are custom-built with two 45-ton safe working load cranes and are designed to hold a maximum capacity of 1740 TEU and speed limit of up to 21 knots. The vessels are suited for TGC's primary short sea routes that provide a weekly connection for container trade from India…

Transworld Group of Companies (TGC) awarded an $80 million shipbuilding contract to Guangzhou Wenchong Shipyard (GWS) in a ceremony held at the company's headquarters in Jebel Ali Free Zone, Dubai, according to a report on www.menafn.com.

Dubai Ports Authority (DPA) and the Jebel Ali Free Zone announced a joint venture with Oracle Corp. to establish the region's first e-business market. The Dubai Electronic Market (DEM) will start operating within 60 days, and would make it possible for businesses to buy, sell and compete on world markets. DPA will operate the project, while Oracle will provide the infrastructure and advanced technology. All purchase orders, confirmations, auctions and tenders will be processed on line by DPA. The move followed an announcement this month to bring local government services on line to speed up transactions, reduce costs and improve quality. Last year, Dubai announced plans to set up Dubai Internet City, a $272 million free trade zone for e-commerce.