Marine cargo handling company DP World has agreed to acquire a majority 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine, subject to the satisfaction of certain conditions, including regulatory approval.
"Bringing the TIS Container Terminal into DP World's global network of ports, economic zones, warehousing, and inland logistics solutions will strengthen its position as the market-leading terminal of Ukraine," said a press release from the global supply chain solutions company.
The latest acquisition also complements the existing operations of DP World's P&O Maritime Services business through a joint venture with TIS Group, providing tugging, pilotage and other marine services in several Ukrainian ports.
The acquisition is in line with DP World's strategy to develop data-driven integrated logistics solutions for moving cargo from the point of manufacture to final destination, deploying technology to remove inefficiencies in the supply chain, and focusing on fast-growing markets and key trade routes.
Leveraging its operational and commercial expertise, DP World employs international best practices to streamline terminal operations and focus on our customers, delivering robust and consistent performance standards.
The Ukrainian container market grew over 20% in 2019, and TIS Container Terminal has one of the most efficient railway connections in the region to major Ukrainian cities, supporting trade flows to the hinterland.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: "We are delighted to extend our Ukraine footprint with this venture and are excited about the significant growth potential of the terminal. Our goal is to build the industry's leading data-driven supply chain solutions through our global portfolio, creating opportunities for our customers to realize game-changing value and accelerate their cargo deployments. We believe the strategic partnership with TIS Group will enable the terminal to continue growing, further cementing TIS Container Terminal's position as the leading gateway to Ukraine."