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Sunday, February 17, 2019

Dp World News

File Image of a DP World Terminal (CREDIT: DP World)

DP World's Q4 Dubai Box Traffic Sags

DP World reported a fall of 4.6 percent in fourth-quarter shipping container volumes in Dubai that the government-controlled port operator blamed on a drop in low-margin business.Dubai's Jebel Ali, the largest transshipment port in the United Arab Emirates, and Mina Rashid port account for about 20 percent of DP World's global volumes.The two ports handled 3.6 million 20-foot equivalent units in the three months to Dec. 31, compared to 3.8 million in the same 2017 period, DP World said in a statement.Dubai container volumes also fell in the third quarter."In the UAE…

Image: DP World Australia

Dubai Port Raises Stake in Australian Port

Dubai-based port operator DP World says it has acquired additional assets in DP World Australia (DPWA), giving the firm a majority stake in its Australian terminals.The percentage of what has been acquired from Gateway Infrastructure Investments and other financial investors is still being finalized and subject to regulatory approval. However, it valued DPWA at an enterprise value of approximately AU$1.4 billion (US$ 997 million).Following the closure of the transaction, DP World…

File Image: a typical DP World intermodal operation. CREDIT: DP World

DP World to Spend $250 mln Building Australia Stake

Dubai's DP World will spend at least $250 million buying back some shares in its Australian port terminals business which it sold in 2010, a company spokeswoman said on Wednesday.DP World will buy the shares from Corsair Infrastructure Partners' Gateway Infrastructure Investments and other investors, it said in a bourse statement.The Dubai-government controlled company will at least double its stake to 50 percent, valuing DP World Australia at about $1 billion, the spokeswoman said.DP World are taking management control as part of the deal which could see it end up with a majority stake…

Image: DP World

DP World Acquires Chilean Ports

Dubai-based port operator DP World says it will buy a 71.3 percent stake in Chile's Puertos y Logistica SA, taking control of two key port terminals in the South American state.According to a filing on Nasdaq Dubai, where the state-owned port operator is listed, the group bought the 71.3% stake from Minera Valparaiso and other shareholders associated with Chilean conglomerate, the Matte Group.The statement quoted DP World Group chairman and CEO Sultan Ahmed bin Sulayem as saying…

Pic: DP World

DP World on Expansion Mode at Southampton

The global port operator DP World said that will invest in four more machines and completely replace its existing fleet with the most modern, fuel efficient and environmentally friendly machines on the market at its Southampton’s container terminal.Two new empty container handlers, delivered at the end of 2018, marked the start of a planned programme of investment and redevelopment at Southampton’s container terminal.The new Hyster machines, which can tandem lift two empty 40ft containers and stack higher than the terminal’s current machines…

Image: Fairview Container Terminal

Fairview Terminal Reaches 1 Million TEU Milestone

The British Columbia’s Port of Prince Rupert and DP World have marked a historic milestone as Fairview Container Terminal handled its millionth container (TEU) for the first time in a calendar year.The 40-foot TEU was loaded with dimensional lumber in Prince George before being shipped to Prince Rupert by train and loaded onto the COSCO Africa container ship to be sent to market.“DP World is proud to have achieved the million TEU milestone,” said Maksim Mihic, General Manager DP World (Canada) Inc.

File Image: a typical DP World facility (CREDIT: DP World)

Indian Court Refuses to Quash Antitrust Probe at Mumbai

An Indian court has declined to quash or stall an antitrust investigation into Dubai-based port operator DP World's alleged anti-competitive behaviour at the country's largest container port in Mumbai, three sources told Reuters on Wednesday.The Competition Commission of India (CCI) last month said it suspected antitrust violations by DP World and Denmark's A.P. Moller-Maersk at the terminals they operate at state-owned Jawaharlal Nehru Port Trust (JNPT).The CCI's probe followed a complaint by Singapore's PSA International Pte Ltd…

Image: DP World

World’s First High Bay Container Storing System is Ready

DP World has joined forces with industrial engineering company SMS Group for  the 'high-bay storage' system for shipping containers.An international joint-venture formed by global trade enabler DP World and industrial engineering specialists SMS group will revolutionize the way that containers are handled in ports. A new and intelligent storing system will be applied for the first time ever at Jebel Ali Terminal 4, in time for the Dubai Expo 2020 world fair.The High Bay Storage…

Pic: Unifeeder

Dubai's DP World Completes Danish Unifeeder Acquistion

Global port operator DP World says it has completed the acquisition of Danish logistics firm Unifeeder for $748 million.DP World’s full acquisition of Unifeeder Group from Nordic Capital Fund VIII was announced in August, but finalized on Thursday."DP World PLC is pleased to advise that it has closed the transaction to acquire 100% of Unifeeder Group from Nordic Capital Fund VIII and certainminority shareholders," said one sentence statement from the Dubai-based global marine terminal operator."Unifeeder Group is now part of the DP World Group…

Canada's Second Largest Container Terminal's Transition to Navis N4 TOS

DSP Data and System Planning successfully supported the transition of DP World Prince Rupert Terminal, the  second largest container terminal in Canada, to the NAVIS N4 terminal operating system (TOS).Prince Rupert selected Navis N4 to improve efficiency, guarantee scalability and sustain their expansion plans.The Prince Rupert Terminal expansion was unveiled in August 2017 to increase the facility’s capacity by 50%, making it one of the fastest growing container ports in North America.Part of the expansion involved installing massive cranes…

India to Probe Alleged Antitrust Behavior by Maersk, DP World at Mumbai Port

India's antitrust regulator has ordered a probe into alleged anti-competitive practices by Denmark's A.P. Moller-Maersk and Dubai's DP World at the terminals they operate at the country's largest container port in Mumbai, five sources familiar with the matter told Reuters.The decision by the Competition Commission of India (CCI) to investigate follows a complaint by Singapore's PSA International Pte Ltd, which alleged that Maersk and DP World created entry barriers to hinder the…

International Container Terminal Services, Inc.

ICTSI Appoints Andrew Dawes as Asia-Pacific Head

Manila-headquartered International Container Terminal Services, Inc. (ICTSI) has appointed Andrew Dawes as Senior Vice President and Regional Head of Asia Pacific, replacing Christian R. Gonzalez, who has been named Global Corporate Head.Dawes will be directly responsible for the management and development of ICTSI’s Asia Pacific portfolio outside of the Philippines.With over 20 years in the port industry, Mr. Dawes has significant experience from senior roles in multinational port management companies in Europe, the Middle East, Africa and the Americas.

Pic: DP World

East Africa Opens it First Inland Dry Port

Dubai-based global port operator DP World and the Rwandan government have opened East Africa’s first Inland Dry Port, 20 kilometers from the capital city Kigali and close to the international airport.DP World Kigali logistics hub is a secure, bonded facility spread over 13 hectares and features an Inland Container Terminal (ICT) with modern warehousing capacity, a container yard, administrative and services buildings, parking areas and other facilities.According to a release from the world's port terminal operator…

Marco Rubio and Chris Coons (official portraits)

US Senators Alarmed if China Gets Control of Djibouti Port

Two prominent U.S. senators expressed alarm on Tuesday about the military and political consequences if China gains control of a port terminal in Djibouti, and said they were concerned it could further boost Beijing's influence in East Africa.In a letter to Secretary of State Mike Pompeo and Secretary of Defense Jim Mattis, Republican Senator Marco Rubio and Democratic Senator Chris Coons said they were concerned about Djibouti's termination of a contract for the Doraleh Container…

Pic: DP World

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…

Shipping industry executives initiate blockchain consortium at a signing ceremony. Photo: CargoSmart Ltd.

Global Shipping Business Network on Blockchain Platform Launched

Nine leading ocean carriers and terminal operators today signed a formal statement of intent for a Memorandum of Understanding (MOU) to form a consortium to develop the Global Shipping Business Network (GSBN), an open digital platform based on distributed ledger technology.According to a statement, the participants include COSCO Shipping Lines, CMA CGM, Evergreen Marine, OOCL, Yang Ming, DP World, Hutchison Ports, PSA International and Shanghai International Port, as well as software…

Pic: DP World

Port Groups Join for Go Green Initiative

Five global container port operators have jointly undertaken a week-long initiative to promote sustainable resource usage  in their respective port and facility networks through mass recycling.During the fifth annual Go Green Initiative, 8,332 employees of DP World, Hutchison Ports, PSA International, Port of Rotterdam and Shanghai International Port Group collected a total of 1,966 kg of aluminium cans and 2,227 mobile phones for recycling.The choice of two very different waste products for collection and recycling was intentional.Aluminium cans are one of the most recyclable waste items…

Photo: DP World

DP World, NIIF Win Bid at Mumbai's JNPT

Global port operator DP World said its joint venture (JV) with National Investment and Infrastructure Fund (NIIF)  has won the bid to build a Free Trade Warehousing Zone (FTWZ) at Jawaharlal Nehru Port Trust (JNPT)  Mumbai for USD 78 million."Hindustan Infralog Private Limited (HIPL), a joint venture between DP World (65%) and the NIIF (35%), has won the bid to develop and operate the FTWZ at India’s largest container gateway – JNPT for $78mn," said a press statement from the…

Richard Branson. Photo: Virgin

Richard Branson Resigns as Chairman of Virgin Hyperloop

Sir Richard Branson has stepped down from his role as chairman of Virgin Hyperloop One, saying the company "needs a more hands-on chairman."DP World statement said Branson was stepping down due to the increased commitment of time the position requires.Following the resignation Branson DP World, the largest shareholder in Hyperloop, said it was looking for a new chairman to take the company to the next stage of growth.Commenting on the announcement, Sultan Ahmed Bin Sualyem, Group Chairman and CEO of DP World…

(Photo: DP World)

DP World's Dubai Shipping Box Volumes Slide in Q3

DP World's shipping container volumes in Dubai fell 6.7 percent in the third quarter, with the port operator warning on Tuesday that the near-term outlook for Dubai's major Jebel Ali Port remained challenging.DP World operates Dubai's Jebel Ali, a major transhipment port and the largest port in the United Arab Emirates, and the Mina Rashid port.Dubai government-controlled DP World, one of the world's largest port operators, blamed the fall in cargo volumes on the challenging macro…

(Photo: DP World)

DP World Amends Terms of $2 Bln 'Green' Loan

Dubai port operator DP World has repriced and extended the maturity of a $2 billion "green" loan comprising conventional and Islamic revolving credit facilities, Standard Chartered said.A total of 19 banks provided the facility, which was extended by two years and was now due in 2023, said the bank which is coordinating the transaction.The loan pricing is linked to DP World's carbon emission intensity as a way to incentivize the company to reduce its greenhouse gas emission. (Reporting by Davide Barbuscia Editing by Edmund Blair)

(Photo: DP World)

DP World Launches Expansion of Port in Somaliland

Dubai state-owned port operator DP World launched on Thursday a $101 million project to expand a port in the breakaway region of Somaliland.Somaliland broke away from Somalia in 1991 and has acted as a de-facto independent state since then but is not internationally recognized. The United Arab Emirate's Dubai government owns DP World.The port in Berbera exports camels to the Middle East and imports food and other items, but Somaliland hopes it will provide an alternative for neighboring Ethiopia - a landlocked country of 100 million which relies on Djibouti for its trade.On Thursday…

Image: Kalmar

Kalmar, DP World Southampton Pact for Hybrid Straddle Carriers

Kalmar, part of Cargotec, has signed a contract with DP World Southampton to supply 12 hybrid straddle carriers for use at their container terminal, said a press release.The Southampton agreement also includes maintenance and operator training as well as six months of on-site maintenance support. The order was booked in Cargotec's 2018 third quarter order intake, and delivery is scheduled for Q2 of 2019. DP World Southampton is the UK port of choice for many global leaders in the container shipping industry.

Photo: DP World

DP World to Issue $3.3 bln of Multi-Currency Bonds

Dubai port operator DP World is to issue more than $3.3 billion in bonds divided across different currencies and formats, according to bank documents seen by Reuters.The company will issue $1 billion in 10-year sukuk, or Islamic bonds, offering 175 basis points over mid-swaps. It is also selling $1 billion in 30-year conventional bonds, with a yield set at 5.7 percent.In addition to the dollar-denominated deals, the Dubai logistics company is selling a 750 million euro ($878 million)eight-year bond and a 350 million pound ($461 million) bond with a 12-year maturity.

(Photo: DP World)

DP World Markets Eight-year Euro-denominated Bond

Dubai's port operator DP World has started marketing an eight-year euro-denominated bond, a document by one of the banks leading the deal showed.The transaction would add to the expected issue of 10-year sukuk, or Islamic bonds, and 30-year conventional notes that the company started marketing to investors earlier on Tuesday.DP World, rated Baa1 by Moody’s and BBB+ by Fitch, has given initial price guidance of around 185 basis points over mid-swaps for the euro-denominated notes, the document showed.Barclays, Citi, HSBC, and Societe Generale are arranging the deal, which is expected to price l

Photo: Rajant Corporation

BT Delivers Wireless Solution for DP World Antwerp

BT has announced the completion of an innovative, secure and resilient wireless backbone network on behalf of DP World Antwerp for its Antwerp Gateway in Belgium, one of Europe’s busiest container terminals.The solution is a vital part of DP World’s digital transformation of the terminal, which handles 2.5 million containers every year, 3,000 trucks every day and almost 950 ships annually.It is designed to provide secure and resilient connectivity for not only the 900 people working at Antwerp Gateway but also the growing demands of connected devices.