DP World to Invest $1bn in Expansion
DP World is planning to annually inject up to $1 billion in global investments until 2020, local media quoted company chairman and CEO Sultan Ahmed Bin Sulayem as saying. The expansion at Prince Rupert in Canada opened for business. DP World Limassol in Cyprus opened a new cruise terminal. A series of acquisitions, technology tie-ups and sustainable business achievements all formed part of the activities that saw the global trade enabler expand its business horizons across the world.
Sulayem Gets DP World's CEO Role Too
DP World is pleased to announce the appointment of His Excellency Sultan Ahmed bin Sulayem as Group Chairman and Chief Executive Officer with immediate effect. His Excellency became Chairman of DP World in May 2007 and has overseen DP World's expansion, including the acquisitions of CSX and the P&O Group to become a leading global marine terminals operator. Deepak Parekh, Senior Independent Non-Executive Director said "The Board is delighted that His Excellency Sultan Ahmed bin Sulayem has agreed to become Group CEO in addition to his role as Chairman.
DP World: Chairman also Appointed CEO
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 Mulls Senegal Free Zone
DP World is looking to develop a free zone in Senegal, Chairman Sultan Ahmed bin Sulayem said on Wednesday. Sulayem was speaking at an African investment event in Dubai. He did not provide specifics on the firm's Senegal plans, but said it was very bullish on Africa in general. (Reporting by Martin Dokoupil; Writing by David French, editing by David Evans; Editing by William Maclean)
DP World Chairman Meets Maldivian President
DP World Chairman, and Chairman of Ports, Customs and Free Zone Corporation (PCFC), HE Sultan Ahmed Bin Sulayem has met with the President of the Maldives His Excellency Abdulla Yameen Abdul Gayoom and Minister of Tourism Ahmed Adeeb Abdul Ghafoor, in Male, together with senior company officials, to discuss potential areas of cooperation across various industry sectors. In a cabinet meeting with HE Abdul Ghafoor following talks with the President, HE Bin Sulayem expressed his support for the fortitude and strategic expertise with which the Maldives have planned their development initiatives.
Indonesian President Widodo Visits Jebel Ali Port
The President of Indonesia, HE Joko Widodo, today visited DP World flagship Jebel Ali Port where he was received by Chairman HE Sultan Ahmed Bin Sulayem and toured the leading integrated port and free zone facility that supports and drives the growth of Dubai and the wider region of some two billion people. President Widodo and his high-level delegation including Darmin Nasution, Coordinating Minister of Economics of Indonesia, Retno Lestari Priansari Marsud, Indonesian Foreign Minister…
DP World, Egypt on Expansion of Sokhna Port
DP World and Egypt's General Authority for Investment and Free Zones (GAFI) have is planning to increase the capacity of Egypt’s Sokhna port located south of Suez Canal, off the Red Sea coast, Egypt’s official State Information Service reported. DP World’s chief executive Sultan Ahmed bin Sulayem and GAFI CEO Mohamed Khodair have discussed the next phase of development in Ain Sokhna. The development will increase the capacity of Sokhna port, which sits south of the Suez Canal on the Red Sea on a maritime trade route from Asia to the Middle East and beyond.
Dubai Eyes 1 Million Cruise Tourists
Dubai plans to build a marina for luxury yachts in response to high demand as the emirate is targeting one million cruise passengers per year by 2020, said Sultan Ahmed bin Sulayem, Chairman and CEO of DP World and Chairman of Ports, Customs and Free Zone Corporation. The increase will mostly come from beefing up infrastructure at the region’s largest cruise terminal, Mina Rashid, which will also include building a marina for luxury yachts. The government is investing heavily to transform its most popular port, Mina Rashid, into a world-class cruise destination.
DP World Chairman Meets Vietnamese President
Standardising trade processes and developing Vietnam’s infrastructure will attract more investment from global trade enablers like DP World, according to its Group Chairman and CEO Sultan Ahmed Bin Sulayem, who met with Vietnamese President Tran Dai Quang at the presidential palace in Hanoi recently. During their meeting, Mr. Bin Sulayem expressed his interest in further developing trade relations between Dubai and Vietnam, with the support of simplified and seamless cargo movement processes.
Dubai to Showcases Maritime Strength at Nor-Shipping
Dubai Maritime City Authority (DMCA), the organization tasked with developing, monitoring and promoting maritime activity in the Emirate, announced its program for this year’s Nor-Shipping, held in Oslo and Lillestrøm, Norway. Alongside exhibiting at Nor-Shipping, DMCA will sponsor the Offshore Day and host a banquet in the Norwegian capital. The activity is designed to showcase Dubai’s strength as a maritime hub and highlight its further growth ambitions, DMCA said. Key messages will focus on the benefits of Dubai’s fully developed cluster - with specialism in ports management…
DP World Bolsters Investment in India
DP World Pvt. Ltd, the world’s fourth biggest container port operator majority owned by the Dubai government, has plans to invest over $1 billion in India for augmenting its port-related operations. The company is seeking to invest in expansion of brownfield terminals, new terminals, inland container depots and expansion of existing inter-modal rail services for rolling stock, Sultan Ahmed Bin Sulayem, group chairman and CEO said. The announcement was made during a visit to New Delhi and Mumbai by Sheikh Mohammed Bin Zayed Al Nahyan…
Work Begins on $1.6 bln Container Terminal at Jebel Ali Port
DP World Chairman Sultan Ahmed Bin Sulayem announced the start of construction work on a brand new container terminal at Jebel Ali Port, Dubai. Phase 1 of the Container Terminal 4 (T4) project will deliver new capacity of 3.1 million TEU (twenty-foot equivalent units) by 2018, taking Jebel Ali Port’s total capacity to 22.1 million TEU. The port complex will be equipped with at least 110 cranes with a total quay length of around 11,000 meters by that time. T4 will be located on…
London Gateway Terminal: First Scheduled Arrival
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.
Drydocks World – SE Asia Expansion
Sultan Ahmed Bin Sulayem, Chairman of Dubai World, one of world’s largest holding companies, visited the Nanindah and Graha shipyards last week, at Batam in Indonesia and Singapore, which are part of Drydocks World SE Asia, the recent addition to Drydocks World, the group’s global ship building, repair and conversion arm. The visit was part of an inspection and review tour to evaluate progress achieved by these shipyards and to study the prospects of expanding Drydocks World SE Asia’s operations in the region. Mr.
DP World to Develop Ukraine Logistics
Global trade enabler DP World has recently signed a Memorandum of Understanding (MoU) with the government of Ukraine to collaborate on matters of mutual interest, including the development of logistics capability in the country. On a recent visit to Ukraine, DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem signed the MoU with the Ukrainian Minister of Infrastructure Volodymyr Omelyan and later met with President Petro Poroshenko, Prime Minister Volodymyr Groysman, senior ministers and officials. At the meetings, Mr.
First Warehouse at Caucedo Logistics Center Opened
The first warehouse at the Caucedo Logistics Centre has been officially opened at a special ceremony in the Dominican Republic by President Danilo Medina Sanchez and HE Sultan Ahmed Bin Sulayem, Chairman of DP World. The Caucedo Logistics Centre is a joint venture between DP World and Caucedo Development Corporation. It provides regional distribution facilities for foreign and Dominican businesses connecting them to a comprehensive, efficient, logistics multimodal network provided by the Port of Caucedo which is operated by DP World.
DP World Opens London Gateway Logistics Centre
DP World's first distribution centre at the London Gateway Logistics Park opened officially, with the UK's shipping minister, Robert Goodwill MP, in attendance. Goodwill and DP World chairman, Sultan Ahmed Bin Sulayem, formalised the opening of the centre during a ribbon cutting ceremony. The first phase of this high tech unit, which comprises 16,800m² (180,000 sq ft) of distribution and logistics space and 2,400m² (25,000 sq ft) of office space, has been finished to BREEAM “very good” standard. Based on market demand, DP World is now planning to increase the size of the centre to 36,000m².
Seafaring Tradition Perhaps Key to DP World's Growth
At DP World's annual gala dinner the chairman noted the company's success was rooted in UAE's rich maritime tradition. The UAE’s rich sea-faring tradition supported and drove DP World’s rise from a local port operator to today being third largest marine terminal operator globally, said Chairman H.E. Sultan Ahmed Bin Sulayem addressing the recent Annual Grand Gala Dinner of DP World, UAE Region. Addressing the event held under the theme “Dreams of the Sea”, the title of DP World’s interactive project that narrates the maritime history of this land, Chairman Sultan Ahmed Bin Sulayem said: “Dubai’s transformation into the trading hub of the region was driven by the visionary investments our leadership made in the infrastructure sector, especially its ports.
DP World Not Fazed by Shipping Doldrums
DP World announce financial results from its global portfolio of marine terminals for the twelve months ending 31 December 2012. DP World Chairman, Sultan Ahmed Bin Sulayem commented; “Delivering this improvement in profits during what has been a challenging operating environment shows that our portfolio is focused on the right markets, and on delivering the right operations and service to our customers. “This year, we have continued to actively manage our portfolio to maximum advantage, divesting non-core or low return assets. This has enabled us to move capital into those markets where we see more profitable returns whilst strengthening our capital base.
DP World to Develop SEZ om Aktau, Kazakhstan
Global trade enabler DP World has signed a Memorandum of Understanding (MoU) with the Government of Kazakhstan for the development of a special economic zone in Aktau further boosting trade and logistics in the country. The MoU was signed by DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem and Governor of Mangistau, Akim Alik Aidarbayev in the presence of First Deputy Prime Minister, Askar Mamin. It builds on DP World’s present management advisory services contract with the Port of Aktau, Kazakhstan’s main cargo and bulk terminal on the Caspian Sea.
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 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 to Develop, Operate $442 mi hub in Somalia
DP World Group Chairman and CEO, Mr Sultan Ahmed Bin Sulayem has met the President of Somaliland, Mr Ahmed Mohamed Mahamoud, during a visit to the country following the signing of a term sheet agreement in Dubai earlier this month to invest in the multi-purpose Port of Berbera. Mr Bin Sulayem and senior executives from DP World were hosted in the Presidential Palace in the capital Hargeisa where they also met government ministers and officials including Foreign Minister, Dr Saad Ali Shire…