Mohammed Sharaf News

Dubai's DP World has appointed chairman Sultan Ahmed bin Sulayem as permanent chief executive with immediate effect, the port operator said on Monday, two weeks after he took interim charge following the retirement of the former CEO. Sulayem will hold both roles simultaneously, DP World said in a bourse statement. On Jan. 27, the company announced long-serving chief executive Mohammed Sharaf had retired. Reporting by Matt Smith

DP World today announces that, after 23 years with the Group and 11 successful years as Group CEO, Mohammed Sharaf has retired from DP World Group, effective today, to pursue other opportunities. The Board has commenced a process to identify a permanent successor. Pending that appointment, the Chairman of the Company will carry out the Group CEO’s duties and functions on an interim basis. Mohammed Sharaf, said: “I would like to thank His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Prime Minister, Vice President of the UAE and Ruler of Dubai, Sultan bin Sulayem, Chairman of DP World and the DP World Group for giving me the opportunity to be part of the success story of DP World.

DP World Limited handled 46.5 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first nine months of 2015, with gross container volumes growing by 3.2% on a like-for-like  basis. On a reported basis gross volumes grew by 3.7%. Growth in the nine months was largely driven by Europe and UAE terminals. The UAE handled 11.9 million TEU, representing growth of 4.0%. Our European portfolio continues to be robust despite the difficult market conditions. The Indian subcontinent delivered an improved performance as it benefitted from the recent capacity addition at Nhava Sheva (India). Performance in the Americas has remained challenging due to continued weak economic conditions.

Global marine terminal operator DP World has collected an impressive four awards including the Grand Prix of ‘Leading Corporate for Investor Relations in the Middle East’ at the 2015 Middle East Investor Relations Society (MEIRS) Awards. DP World CEO Mohammed Sharaf was also presented the award for ‘Best Investor Relations by a CEO’ at the event, held at the Address Dubai Mall during the 7th MEIRS Annual Conference. The awards honour outstanding achievements of investor relations professionals and organisations in the region, and highlight the continuous efforts of industry and its leaders in developing IR standards. Nominated for seven categories…

In the largest delegation to date, DP World has recently sent, its very own employees to live, experience and become part of Milan Expo 2015. DP World’s delegation represented the entire company, from leaders and directors to customs specialists and ground staff; a diverse mix of backgrounds which mirror the vibrant and global city of Dubai. The mission of this delegation was to grasp the visitors’ experience at the Milan Expo 2015 and contribute to feeding the Expo 2020 Bureau with an informed perspective. Key visitors included the Chairman of DP World, HE Sultan Bin Sulayem, DP World Vice Chairman, Jamal Majid bin Thaniah, Group CEO Mohammed Sharaf, Chief Operating Officer, Anil Wats and other senior DP World officials.

The second Annual Danish Maritime Forum, scheduled for October 7-8, 2015, in Copenhagen, brings together a wealth of global maritime leaders to address present and long-term challenges for industry. Discussions at this year’s Danish Maritime Forum are influenced by volatility in global markets and uncertainties about future growth and will focus on how the maritime industry can address these challenges in both the short and long term. Other topical issues will include the New Chinese Silk Road, the global energy outlook and the future of ocean governance.

Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the six months to 30 June 2015, delivering profit attributable to owners of the Company before separately disclosed items of $405 million, up 21.9% compared to the first half of 2014. Profit for the period attributable to owners of the Company before separately disclosed items of $405 million; (1H2014 attributable income of $332 million)  Acquisitions of EZW helps boosts profit attributable to owners of the Company before separately disclosed items by 21.9%. EPS rises correspondingly as there has been no equity issued in connection to our investment activity.

DP World may launch operations in Iran, the company's chairman said on Thursday, as the global ports operator reported a jump in half-year earnings after buying assets from its parent company. Customer demand will dictate what it will spend on developing port facilities on the Caspian Sea, which it is currently exploring with Iranian authorities. "Iran has a good land bridge of rail that will connect the Silk Route from China to Europe," Chairman Sultan Ahmed bin Sulayem said on an earnings call with reporters. "With our ports in the Gulf, we need to go into Iran," he said, without giving a timeframe for the investment. He said DP World officials visited Iran ahead of Tehran's nuclear deal with world powers in July that could see trade sanctions lifted.

DP World’s flagship Jebel Ali Port has been recognized for excellence in container terminal operations at the first ever Navis Inspire Awards 2015. HE Sultan Ahmad Bin Sulayem, Chairman of DP World said the industry prize underlined the global marine terminal operator’s customer centric approach, innovation, process excellence and commitment of its employees. Bin Sulayem’s comments were made in a special event held in Dubai to celebrate the award and to congratulate DP World’s UAE Region team for the achievement.

DP World Limited today announces its agreement to acquire Maher Terminal’s Fairview Container Terminal (Fairview) in Prince Rupert, British Columbia, Canada from Deutsche Bank. Fairview presents growth opportunity in a market with attractive and growing demand. Fairview is a purpose built terminal with an efficient sea-rail link and has a current capacity of 850,000 TEU (twenty-foot equivalent container units), with a just-announced Phase 2 expansion that will take capacity to 1.35 million TEU. The concession period runs to 2034 with an extension to 2056 after the completion of Phase 2. consideration payable is C$580 million (US$457 million*) for the total outstanding stock of Fairview on a cash-free, debt-free basis (subject to customary adjustments).

Antwerp Gateway, managed by DP World (one of the largest container terminal operators in the world) is a significant contributor to the success of the Port of Antwerp. Eddy Bruyninckx, CEO of the Antwerp Port Authority, met with Mr. Sultan Ahmed bin Sulayem and Mr. Mohammed Sharaf, respectively chairman and CEO of DP World, on Thursday during the Belgian mission to Dubai headed by HRH Princess Astrid. After the meeting both CEO’s took part in a lunch, in presence of HRH Princess Astrid. Already in 2014 the worldwide growth figures for DP World were extremely positive, with the total volume up 8.9% to 60 million TEU. The fact that a significant part of this growth was generated in the port of Antwerp…

Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the twelve months ended 31 December 2014. increased 16.0%, delivering profit attributable to owners of the Company, before separately  disclosed items2 , of $675 million, up 25.1% on a like-for-like basis, and EPS of 81.4 US cents.  Cash from operating activities amounted to $1,486 million up from $1,299 million in 2013. DP World Chairman, Sultan Ahmed Bin Sulayem commented, “DP World is pleased to announce another set of strong financial results, with double digit top line growth translating into like-for-like attributable earnings growth of over 25%.

Dubai's DP World, one of the world's largest port operators, posted an 11.8 percent rise in 2014 net profit as profit margins grew in all its regions, the company said on Thursday. The firm made a profit attributable to shareholders of $675 million compared with $604 million in the prior year, it said in a statement to the NASDAQ Dubai bourse. Revenue in the 12 months was $3.41 billion, up 11 percent from 2013. DP World invested $807 million across its portfolio during the year, adding 2 million twenty-foot equivalent units (TEU). Mohammed Sharaf, group chief executive, said 2015 was expected to see the addition of about 8 million TEU. This would include new facilities in Turkey, India and the Netherlands, and added capacity at Dubai's Jebel Ali Terminal 3.

A ground-breaking ceremony was held at DP World’s London Gateway Logistics Park to mark the start of construction on a 316,000 square foot distribution facility. The building is being developed speculatively as an equal joint venture between DP World, one of the world’s largest port operators, and Prologis, the global leader in industrial real estate. The ceremony took place on Friday, February 6 and was attended by Jamal Majid Bin Thaniah, Non-Executive Director and Vice Chairman for DP World, Mohammed Sharaf, DP World Group Chief Executive, and Hamid R.

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility. The ‘APL Phoenix’ was welcomed by DP World Chairman, His Excellency Sultan Ahmed Bin Sulayem, Vice Chairman HE Jamal Majid Bin Thaniah, Group CEO Mohammed Sharaf, Senior Vice President and Managing Director, UAE Region, Mohammed Al Muallem, and Prabhu G.K.N., Head of Operations and Network Management, Middle East and Africa Region at APL, and Capt Moses Dogbeda Kodzitse, Master of APL Phoenix, together with senior representatives of other DP World customers.

Piracy, terrorism and criminal activities originating in Somalia can only be addressed by creating a climate of security, engagement and empowerment that will encourage home grown businesses, international investment and alternative employment for Somalia’s young people. That’s one of the key conclusions of the second high level meeting of public and private sector experts on Somalia brought together by DP World and knowledge partner the Institute for Near East and Gulf Military Analysis (INEGMA) in Dubai under the theme ‘Public-Private Partnership (PPP) Opportunities, Communities’ Engagement and Soft Diplomacy’. The expert panel was the second in a series that form part of DP World’s ongoing counter piracy efforts and Somalia capacity building.

In an unprecedented show of commitment for an environmental cause, DP World and Hutchison Port Holdings Limited (HPH) have joined hands to combat global warming in a Waste Reduction Campaign that will multiply the effect of their individual efforts to curb global greenhouse emissions. An estimated 11.2 billion tonnes* of solid waste is collected worldwide every year and its degeneration contributes to about five per cent of global greenhouse gas (GHG) emissions. A joint DP World-HPH campaign, which will run from 19 to 21 September, has been established and follows the theme ‘Recycling Begins & Ends with You’. The campaign will see employees…

Global marine terminal operator DP World releases strong financial results from its global portfolio of marine terminals for the six months to 30 June 2014, delivering profit attributable to owners of the Company before separately disclosed items of $332 million, 40.8% ahead of the first half of 2013 on a like-for-like basis. “DP World is pleased to announce another strong set of first half results. The addition of new capacity and a pick-up in global trade has resulted in a return to robust volume growth, which has translated into an impressive financial performance. “We h a v e reported an excellent set of financial results for the first six months of 2014, delivering 11.6% like-for-like revenue growth.

The Lord Mayor of the City of London, Fiona Woolf, welcomed the foreign direct investment by Dubai’s DP World into London Gateway, while visiting the recently opened deep-sea container port and Europe’s largest logistics park. During her visit, the Lord Mayor, climbed one of the world’s largest quay cranes to have an elevated view of the massive three square mile site, where work is underway for a Common User Facility and other proposed distribution centers. The Right Honorable Fiona Woolf, said, “The Port of London has a vital role in this country’s great trading history.

Dubai-based DP World reports that container volumes continued to grow In 2013 with a stronger second half performance across all regions. DP World Limited handled 55 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during 2013, with gross container volumes growing by 0.7% on a like-for-like 1 basis. The second half of the year delivered a stronger performance with volumes growing 3.6% on the prior period on a like-for-like basis. On a reported basis gross volumes declined 1.9% mainly due to the monetisation of one of our Hong Kong assets.

Britain’s new global shipping port welcomes its first scheduled vessel, the ‘MOL Caledon’ from South Africa. After more than a decade of planning and construction across three square miles of development, DP World London Gateway deep-sea port is now open & operational. The ‘MOL Caledon’ was welcomed by DP World Chairman Sultan Ahmed Bin Sulayem, Vice Chairman Jamal Majid Bin Thaniah, Group CEO Mohammed Sharaf, Chairman of MOL Liner Junichiro Ikeda, and shipper representatives JFH Hillebrand MD David Mawer and Chingford Fruit MD Gavin McNally, together with other senior executives.

DP World Ltd. announces 26% increase in like-for-like profit for the six months ended 30, June 2013. “Despite tough market conditions, we have reported an excellent set of financial results for the first six months of 2013. “The outlook remains uncertain and market conditions in some regions are undoubtedly challenging.

DP World Chairman welcomes mega-vessel to Jebel Ali port's new 1 million TEU Terminal 2 expansion. HE Sultan Ahmed Bin Sulayem, Chairman, DP World, officially opened the new extension to Container Terminal 2 (T2) at flagship Jebel Ali Port, welcoming one of the largest container ships afloat, the MSC La Spezia. A red carpet welcome was given to the 366-metre long vessel, which has 14,000 TEU (twenty-foot equivalent container units) capacity. The expansion adds 1 million TEU to take capacity at Jebel Ali Port to 15 million TEU, extending the T2 quay wall by 400 metres to 3,000 metres.