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Monday, January 18, 2021

Dp World Group News

DP World Expresses Concern on Future

Dubai state controlled port operator DP World's revenue grew 36.1% in 2019, but it says the near-term outlook remains “a cause for concern” due to global trade disputes and the coronavirus outbreak.DP World, one of the world’s largest port operators, made $1.34 billion last year compared to $1.33 billion in 2018, it said in a bourse filing. Revenue rose 36.1% to 7.7 billion."However, the global trade outlook remains uncertain due to supply chain disruption caused by Covid-19 outbreak…

DP World to Invest $500 in Jeddah Port Upgrade

The global port operator DP World has been awarded a 30-year Build-Operate-Transfer (BOT) concession by the Saudi Ports Authority (Mawani), for the management and development of the Jeddah South Container Terminal at the multi-purpose Jeddah Islamic Port.According to a press release from the UAE-based world leader in global supply chain solutions, under the agreement, DP World will invest up to $500 million to improve and modernize the Jeddah Islamic Port, including major infrastructure development to enable the Port to serve the ultra-large container carriers (ULCC’s)…

Unifeeder Acquires Feedertech

Denmark’s Short-sea operator Unifeeder , part of the global port operator DP World, has acquired a 77% stake in The Feedertech Group, a Singapore-based feeder and shortsea operator.The Group’s Chairman, Ali Maghami, will retain the remaining 23% shareholding.Established in 2003, the Group operates two companies; Feedertech, which is a feedering service and Perma, a regional shortsea network. Both operate in the same market and connect the fast-growing trade route of Asia-Middle…

Deepwater Port Posorja 1st Phase Opened

The $538 million first phase of the new Deepwater Port of Posorja in Ecuador by global trade enabler, DP World, is now completed and successfully operational.The overall $1.2 billion project will replicate Dubai's Jebel Ali Port and freezone, making Ecuador a trade and logistics hub for South America's west coast, and opening a gateway for large container ships with capacities exceeding 10,000 TEUs.Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, visited the facility to assess progress of the project, which is one of the largest international investments in Ecuador.

DP World Profits Up 27% in H1 2019

Dubai International Ports Group (DP World) announced a strong financial results for the first six months of the year ended June 30, 2019 and its profits soared by 27% to US$753.Acquisitions and growth in non-containerized revenue helped revenue climb to $3.46 billion, although on a like-for-like, constant currency basis the revenue increase was 11 percent, said the Dubai-based company.Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “DP World is pleased to report like-for-like earnings growth of 22% in the first half of 2019 and attributable earnings of $753 million.

DP World Slams Djibouti Government

The global port operator DP World has accused the government of Djibouti of “complete disregard and contravention” of the global legal system as it plans to rule all international adjudications on the Doraleh Container Terminal null and void."A decision to be taken later this week by the government of Djibouti to apply to the country's high court to rule all previous international adjudications null and void is a complete disregard for and contravention of the global legal system and existing contracts…

DP World to Build $1.2B Port in Indonesia

DP World and Indonesia’s leading conglomerate Maspion Group have signed two preliminary agreements to create a $1.2 billion container port and industrial logistics park in East Java.It is the first joint venture of its kind in the Indonesian transportation sector involving a private sector partnership between an FDI partner and a private sector Indonesian company in Maspion, within the context of cooperation in maritime services with the state-owned maritime services operator Pelindo III.

DP World Strengthen Brazil Ties

Brazil Minister of Foreign Affairs, Ernesto Henrique Fraga Araujo met with the global port operator DP World Group's Chairman and CEO, Sultan Ahmed bin Sulayem in the Brazilian capital, Brasilia this week.They discussed social reform, a stable and efficient regulatory framework to attract investors alongside public private partnerships to encourage foreign direct investment (FDI). The meeting preceded Mr. Bin Sulayem’s discussions with President Jair Bolsonaro during the visit.DP World Santos…

DP World, SMS Launch Boxbay

Global ports operator DP World and industrial engineering firm SMS Group announced "Boxbay", a new and 'smart' shipping container storage system that aims to change the way that containers are handled in ports.The patented design and rack structure of the system creates unique advantages with containers stored up to eleven stories high, delivering the capacity of a conventional terminal in a third of the surface area.By being fully automated it has direct access to each container, eliminating unpaid and unproductive reshuffling.

DP World to Invest in Kazakhstan Ports

The global port operator are in discussions with Kazakhstan government to invest in new infrastructure in the country’s ports and logistics sectors.The potential of DP World investing in new infrastructure in Kazakhstan’s ports and logistics sectors was the focus of discussions between global trade enabler DP World’s Chairman and CEO Sultan Ahmed Bin Sulayem and Kazakhstan’s Prime Minister H.E. Askar Mamin in Astana today.This follows the signing of two framework agreements with…

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…

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…

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…

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…

DP World Gross Volume Up 4.8% for 1H 2018

Dubai-based port and terminal operator DP World said that its gross volumes rose 4.8 percent to USD 35.6 billion s for the six months to 30 June 2018,  despite uncertainties in the container market. On a reported basis, revenue grew 14.4%.Revenue growth is supported by the volume growth across all three regions and the impact of new acquisitions including Drydocks World LLC (Drydocks), Dubai Maritime City (DMC) and Cosmos Agencia Marítima (CAM).Profit attributable to owners of…

Unifeeder Becomes Part of the DP World

Following last week annoucement of acquisition, Unifeeder Group has announced the signing of the agreed acquisition of Unifeeder by DP World.The largest Pan-European feeder and shortsea operator announced in a press release that it will benefit from DP World’s global scope, size and presence which in turn will enable Unifeeder’s brands to expand further and beyond present geographies and products.Unifeeder will continue to operate on a fully independent, multi-user basis under its current existing management, and expects to see additional growth as a consequence of the transaction.

DP World, China Signs Agreement to Boost International Trade

An agreement to jointly construct a new ‘Traders Market’ at DP World’s flagship Jebel Ali Port and Free Zone in Dubai on a total build up area of three million square metres has been signed between the global trade enabler and the Zhejiang China Commodities City Group, providing further impetus to China’s Belt and Road Initiative.DP World will be building the ‘Traders Market’ within the Jebel Ali Free Zone Area located in Jafza South next to the Dubai Expo 2020 site.The market will include clusters of traders from all over the world, offering a wide range of products at one site.

DP World Acquires India's Continental Warehousing

Hindustan Infralog (HIPL), a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), announced that the transaction to acquire 90% stake in Continental Warehousing Corporation (Nhava Seva) Ltd in India has now closed.CWCNSL’s founders, the Reddy family, will retain the remaining 10% shareholding and will remain involved in the business operations. It is the first investment of HIPL, the recently created investment vehicle between DP World and NIIF to invest up to US$ 3 billion in ports…

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.

Expansion Set for Prince Rupert Fairview Terminal

The Port of Prince Rupert and DP World have agreed on terms of a project development plan that outlines the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal. The Phase 2B expansion will increase annual throughput capacity at Canada’s second largest container terminal to 1.8 million TEUs (twenty-foot equivalent units) when complete in 2022. DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: “Canada is an important part of our global network and we are delighted to confirm these plans…

DP World to Develop Egypt Port Terminal

A Memorandum of Understanding (MoU) agreed by DP World, Egypt’s Holding Company for Maritime and Land Transport and the Suez Canal Authority is aiming to develop a new Inland Container Depot (ICD) in Egypt’s 6th of October City, a satellite town in the Giza Governorate and part of the urban area of Cairo. The three partners will bid for the government contract for the project later this year. The proposed ICD will increase the flow of cargo between ships and major land transportation networks in the country, creating a central distribution point.

DP World Sets Its Sights on Hyperloop Cargo Shipping

Dubai-based port operator DP World has partnered with Sir Richard Branson’s Virgin Hyperloop One to create a new venture that aims to provide hyperloop-enabled cargo systems.DP World and the U.S.-based Virgin Hyperloop One introduced their vision for “the future of on-demand freight transportation” at an event on April 29 at the historic vessel Queen Elizabeth 2.The joint venture, called DP World Cargospeed, will set out to be the world’s first to ship cargo with hyperloop technology.

DP World Post 7.3% Volume Growth

Dubai state-owned port operator DP World Limited said it handled 17.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2018, with gross container volumes growing by 7.3 percent year-on-year on a reported basis, and 8.4 percent on a like-for-like basis."Following a strong year for the global container market in 2017 with peak levels since 2011, our portfolio has had an encouraging start to 2018 delivering ahead-of-market growth.

DP World's Earnings Grow 15.1%

Global trade enabler DP World today announces strong financial results for the twelve months ending 31 December 2017. The company delivered earnings in excess of $1 billion and above 50% EBITDA margin for the full year. Revenue grew 13.2% and adjusted EBITDA increased 9.1% with adjusted EBITDA margin of 52.4%, delivering profit attributable to owners of the Company, before separately disclosed items of $1,209 million, up 7.3%, and EPS of 145.6 US cents. On a like-for-like basis…

DP World: Work on Berbera Project Underway

The final agreement to develop a greenfield economic free zone in Somaliland to complement the growth of the Port of Berbera has been signed between DP World and its government in Dubai. The global trade enabler expects to break ground on the 12 square kilometre free zone project this year. Located next to the port, it will support the growth of Berbera as a regional trading hub and generate jobs. DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said: “Our vision for Berbera…