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Friday, April 19, 2019

Sultan Ahmed Bin Sulayem News

Image: BOX BAY FZCO

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 Group Chairman and CEO Sultan Ahmed Bin Sulayem with Kazakhstan’s Prime Minister Askar Mamin in Astana. Photo by DP World

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…

File Image: CREDIT P&O

DP World buys back P&O Ferries for $421 mln

DP World has bought back British ferry and shipping freight operator P&O Ferries for 322 million pounds ($421 million), more than a decade after it sold it.DP World acquired the British shipping and logistics company in 2006 but soon sold off some assets, including P&O Ferries to its major shareholder, state holding company Dubai World.DP World announced on Wednesday it was buying the company, and a spokeswoman later told Reuters it had bought it back from Dubai World.Dubai World was at the heart of the emirate’s financial crisis at the turn of the decade and was forced to restructure around $

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…

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…

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: 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…

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…

(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 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…

Photo: DP World

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…

(Photo: DP World)

DP World cautions on trade, posts 2.1 pct drop in H1 net profit

DP World, one of the world's biggest port operators, posted a 2.1 percent drop in first-half net profit on Thursday, and cautioned about geopolitical risks and recent changes to trade policies.U.S.

Unifeeder vessel Vera Rambow in Rotterdam. Photo: Unifeeder

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.

Photo: DP World

DP World Volume up 6.0% in H1 2018

DP World Limited handled 35.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first half of 2018, with gross container volumes growing by 4.8% year-on-year on a reported basis and 6.0% on a likefor-like1 basis.The first half of 2018 continues to see an upswing in global trade and all three DP World regions delivered growth, particularly our terminals in Europe and Australia. The UAE handled 7.7 million TEU in 1H2018, remaining broadly flat (+0.2%) year-on-year.At a consolidated2 level…

Photo: DP World

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.

Photo: Continental Warehousing Corporation (Nhava Seva) Limited

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…

Photo: Dubai Maritime City

Dubai Maritime City Authority to Develop UAE’s Maritime Sector

The Department of Transport in Abu Dhabi signed a Memorandum of Cooperation (MoC) with the Dubai Maritime City Authority (DMCA) with an aim to promote the development, consolidation and regulation of the maritime sector based on competitiveness, sustainability, excellence and innovation.The MOC is a result of relentless efforts by both parties to establish effective strategic partnerships to elevate the UAE’s position as one of the world’s best maritime centers.The agreement was signed by Sultan Ahmed bin Sulayem…

Photo: Prince Rupert Port Authority

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…

Photo: Government of Dubai Media Office

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.

Photo courtesy DP World

DP World Holds Llive Virtual AGM in UAE

DP Global trade enabler DP World has staged the first ever live virtual Annual General Meeting for shareholders at its headquarters in Jebel Ali. Shareholders were connected by a live webcast and telephone conference facility across the region and the world in order to cast their votes on the re-election of Board members and to be briefed on the company’s recent performance and growth strategy. Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: “We are living in the digital age and Dubai is leading the development of smart technologies…

(File photo: DP World)

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.

Photo: DP World

DP World to Develop Kazakhstan's Special Economic Zones

Dubai Ports (DP) World, the global port operator of the United Arab Emirates (UAE),   and the government of Kazakhstan signed two framework agreements in Abu Dhabi today relating to the acquisition, governance and management of Special Economic Zones (SEZ) in Aktau and Khorgos. DP World has been providing management services to the Port of Aktau, Kazakhstan’s main cargo and bulk terminal on the Caspian Sea, and Khorgos SEZ, which is strategically situated on the China-Kazakhstan border and has been acting as the primary transit point for trans-Eurasian cargo trains for more than four years.

Photo: DP World

DP World Wins Congo Port Concession

DP World, the Dubai-based ports operator, announced it has won a 30-year concession for the management and development of a port project in the Democratic Republic of Congo (DRC). The deal gives DP World an option to extend its management and development for a further 20 years, and is for a greenfield multi-purpose port at Banana. "The Port of Banana will be the first deep-sea port in the country along its small coastline of 37 kilometres, which currently only has the riverine port of Matadi," said a statement.