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Sultan Bin Sulayem News

23 Dec 2020

DP World to Build $1.1B Deep-water Port in Senegal

For illustration only - Credit: Pawinee/AdobeStock

Global port operator DP World has signed agreements with the government of Senegal to develop a deep-water port at Ndayane worth a total of $1.127 billion, its biggest investment in Africa to date, the company said on Wednesday.DP World Dakar, a joint venture between the Dubai-based logistics provider and the Port Authority of Dakar (PAD), will finance, design and develop land and maritime infrastructure for the new 600-hectare (1483 acres) port about 50 km from the existing port.The agreement to build the port was reached after talks between President Mack Sall and DP World Chairman Sultan bi

14 Mar 2019

DP World downplays Trade Tensions as Profit Soars

File Image: Atypical DP World managed terminal. CREDIT: DP World

DP World, one of the world's biggest port operators, said on Thursday its business could weather international trade tensions, after reporting a 10.2 percent rise in 2018 profit."Current year has started with trading in line with expectations and whilst the near-term outlook remains uncertain with the trade war and geopolitical headwinds, we expect our portfolio to remain resilient and see increased contributions from our recent acquisitions and investments,” Sultan bin Sulayem, DP World chairman, said in a statement.The Dubai state controlled firm said it made a profit attributable to owners

13 Nov 2018

Virgin Hyperloop One Selects New Chairman

Global hyperloop pioneer Virgin Hyperloop One elects Sultan Ahmed bin Sulayem as Chairman and Jay Walder as CEO as company leverages new round of funding to begin implementation of hyperloop from Pune to Mumbai.Sultan Ahmed bin Sulayem is the Group Chairman and CEO of DP World. Jay Walder, who is one of the world’s leading mass transportation and technology executives, has been appointed as its new CEO. Walder will also join the company’s Board of Directors.The selection of a new senior management team will allow Virgin Hyperloop One to transition its focus from technology startup to mass transportation company beginning with the implementation of the world’s first hyperloop system running from Pune to Mumbai.

01 Jul 2018

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. Business groups in Dubai can always benefit from DP World's presence in different countries, including Rwanda and Egypt, where re-exporting opportunities are abundant, bin Sulayem quoted as saying.

15 Mar 2018

DP World Says Committed to Port Project in Somaliland

Š homocosmicos / Adobe Stock

DP World, one of the world's largest port operators, said on Thursday it is committed to the port project in Somaliland despite Somalia's move to ban the ports operator from operating in Somalia. Djibouti's decision to end a contract with DP World to run its Doraleh Container Terminal will make it difficult for Africa to attract investment, DP World's chairman Sultan bin Sulayem told a news conference after reporting full-year earnings. He said the company doesn't know what motivated Djibouti to seize the container terminal.

24 Aug 2017

DP World 'Confident' of meeting FY View

DP World, one of the world's largest port operators, said on Thursday it was confident it would meet full-year market expectations as it reported a flat half-year net profit. The Dubai-headquartered firm made a profit of $606 million attributable to the owners of the company in the six months to June 30, according to a bourse statement. The earnings, which were in line with analyst estimates, according to Thomson Reuters data, compare with a $608 million profit in the same period a year earlier. Revenue increased 9.6 percent to $2.29 billion, and in July the company said gross container volumes rose 8.2 percent in the first half to 34 million twenty-foot equivalent units (TEUs).

09 Apr 2017

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. Sultan bin Sulayem cited Egypt's strategic location and other assets as drivers of investment and international trade in the coming period. The majority of Egypt-bound cargo from the east is imported via Sokhna.

12 Feb 2017

DP World not concerned about Trump protectionist policies

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)

30 May 2016

DP World to Manage Somaliland Port for 30 Years

DP World has reached an agreement to manage the Berbera port in Somaliland, which would allow it to become a major hub for goods to transit to and from the Horn of Africa, the Wall Street Journal reported. DP World signed a US$442 million agreement with the government of Somaliland to develop and operate a regional trade and logistics hub at the Port of Berbera. Under the terms of the deal, the newspaper citing a person who has seen the document, Somaliland will grant the Dubai-based company the right to manage the Red Sea port of Berbera for 30 years. DP World is bullish on Africa and will expand further across the continent following a deal to create a new gateway in Somaliland, on its eastern coast.

10 Mar 2016

DP World in Philippines Talks

Dubai-based DP World Group chairman and CEO Sultan Ahmed bin Sulayem has held discussions with senior Philippines officials on trade and business opportunities. DP World is present in the Philippines through its stake in Asian Terminals Inc., which operates the modern South Harbour in Manila. ATI is the sole container terminal and multi-cargo port operator of South Harbour, the Philippines' key terminal in the country's biggest market providing services for containerised and non-containerised cargoes and passengers. The discussions revolved around the government's plans for development of the maritime sector, privatisation and efforts to develop infrastructure.

10 Mar 2016

DP World to Strengthen Ties with Thailand

DP World Group Chairman and CEO and Chairman of Ports, Customs and Free Zone Corporation Sultan Ahmed bin Sulayem has met the Deputy Prime Minister of Thailand, Somkid Jatusripitak, who is responsible for seven ministries including Finance and Investments. During the meeting, which was held in Bangkok, Thailand, discussions revolved around the future prospects of cooperation between Thailand and DP World, exploring the potential for DP World to contribute in the country’s economic growth, especially in areas of ports, trade, shipping, and logistics industries. Also part of the discussion were the global port operator’s existing investments in Thailand and how they can be given further impetus.

29 Jan 2016

DP World CEO Sharaf Retires

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.

28 Sep 2015

Largest DP World Delegation for Milan Expo

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.

28 Jul 2015

Work Begins on $1.6 bln Container Terminal at Jebel Ali Port

Photo: DP World

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…

24 Oct 2014

DP World Receives 1st Scheduled Vessel at New Terminal

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.

27 Jan 2014

Dubai Maritime City Launch Sustainability Program

Map image courtesy of DMCA

Dubai Maritime City has launched a strategic initiative to focus on the sustainable future of the Emirate’s maritime industry in cooperation with Dubai Supreme Council of Energy. Dubai Maritime City Authority (DMCA), the government authority charged with regulating, coordinating and supervising all aspects of the maritime sector in Dubai, has announced that it has initiated the Dubai Maritime Sustainability Program (MSP) in collaboration with the Dubai Supreme Council of Energy and DP World.

21 Feb 2006

Dubai Delegates Visit U.S. to Ease Ports Concern

According to reports, Dubai's royal family sent a delegation to the U.S. today to meet officials such as Senator Hillary Clinton to allay concerns about the emirate's purchase of six U.S. ports as part of its buyout of Peninsula & Oriental Steam Navigation Co. Sultan bin Sulayem, chairman of the state-owned DP World, is heading the team will discuss Dubai's management of P&O operations in the U.S., which include the ports of New York and Baltimore, official said. Democratic Senators Robert Menendez of New Jersey and Hillary Clinton of New York are seeking to prohibit companies owned or controlled by foreign governments from buying U.S. port operations. A bipartisan group of U.S.