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INFRASTRUCTURAL DEVELOPMENT - SEAPORTS & SHIPPING

DP World to boost capacity of China port

Posted on 21/03/2008

Shanghai - DP World aims to boost its container-handling capacity in China 30 per cent this year because of the country's surging trade growth. The company plans to add four container berths in Qingdao, eastern China, and a second venture in the northern port of Tianjin, Kris Chang, managing director of DP World China, said on Thursday DP World had a capacity of 10 million cargo boxes in China and Hong Kong at the end of 2007. DP World raised $4.96 billion in the Middle East's largest ...  >>MORE

Abu Dhabi begins dredging at site of new Khalifa Port

Posted on 18/03/2008

Abu Dhabi Ports Company on Monday said it has started dredging and reclamation of 45 million cubic metres of material on February 17 at the site of the planned Khalifa Port, one of the world's largest greenfield offshore port and industrial zone developments."The port, a major element of Abu Dhabi Ports Company's (ADPC) multi-billion dollar Khalifa Port and Industrial Zone, will provide essential infrastructure for the growing industrial and commercial sectors of Abu Dhabi, as outlined in the ...  >>MORE

Port Rashid in US$12bn redesign

Posted on 24/02/2008

Nakheel has invited a large number of businessmen, developers and investors in the contracting and real estate sectors to look into its most recent project – the massive redevelopment of Port Rashid – which is likely to see investments worth US$12 billion (Dh44bn). The area will be completely redesigned to change the skyline to towering skyscrapers and luxury resorts from the present view of massive cranes and huge ships. Once completed, the in-city stretch of the coast will be transformed into ...  >>MORE

DP World Sokhna deal marked by top level signing ceremony

Posted on 18/02/2008

Under the auspices of Dr Ahmed Nazif, Prime Minister, Arab Republic of Egypt and Sultan Ahmed Bin Sulayem, Chairman, DP World, a formal signing ceremony took place yesterday in Cairo between Captain Ossama Al Sharif, CEO & President, Sokhna Port Development Company and Admiral Mamdouh Deraz, Chairman, Red Sea Port Authority. The ceremony marked the sale and transfer of ownership of the Sokhna Port Development Company - the concession holder and operator of Sokhna Port - to the global marine ...  >>MORE

Sharjah container volume grows 8%

Posted on 12/02/2008

Container volume at Sharjah's ports grew by eight per cent last year, according to the company managing the emirate's sea cargo facilities. Gulftainer Company Limited, which manages the container terminals in Khor Fakkan and at Sharjah's Port Khalid, said the combined throughput was 2.17 million TEUs (twenty-foot equivalent standards container units). The two terminals achieved about two million TEUs in 2006. Gulftainer, which operates the port facilities on behalf of the Sharjah Port ...  >>MORE

DP World - UAE records 19% growth in 2007

Posted on 07/02/2008

DP World's UAE region announced today that it has recorded 19 percent growth in throughput with the handling of 11 million TEUs (twenty-foot equivalent container units) at its marine terminals during 2007, as compared to 2006. A substantial increase in throughput has also been recorded at Dubai's two ports, Jebel Ali and Port Rashid, showing a growth of 20 percent compared with 2006, to reach 10.7 million TEUs. Jebel Ali port operations alone grew by more than 25 percent, with the port handling ...  >>MORE

Emirates Shipping Line joins North China India Express

Posted on 03/02/2008

Emirates Shipping Line, a multi-awarded global maritime company, has announced today (January 31, 2008) its participation in the North China India Express (NIX) service, which is operated by KMTC and CNC, and links major ports of China, Korea, Southeast Asia and India. Emirates Shipping Line has acquired slots on the NIX service commencing from the February 22, 2008. NIX service provides direct port connection across Korea, Northern China and Nhava Sheva, and is also one of the few services in ...  >>MORE

Jebel Ali's container capacity to grow 27%

Posted on 29/01/2008

Port operator DP World said container handling capacity at its flagship facility in Jebel Ali will increase by 27 per cent in February 2009 under the ongoing expansion that will satisfy annual double digit growth. The port of Jebel Ali achieved a throughput of 9.9 million TEUs (twenty-foot equivalent container units) in 2007, up 25 per cent from the previous year. Jebel Ali's current capacity of 11 million TEUs will grow in phases and will reach 14 million TEUs early next year, DP World UAE ...  >>MORE

Jafza in port deal with Philippines

Posted on 28/01/2008

Jafza International, the global economic zone operations arm of Economic Zones World, yesterday signed an agreement with Subic Bay Metropolitan Authority (SBMA) for the development and regeneration of Subic Bay Freeport in the Philippines. The signing, which took place during the official visit of President Gloria Macapagal Arroyo of Philippines to the UAE, marks the enhanced two-way trade between the UAE and Philippines. CEO of Jafza and Economic Zones World Salma Hareb signed the MoU with ...  >>MORE

Jafza Int'l selects ATM as programme manager for $600m Logistics Park in US

Posted on 27/01/2008

Jafza International, the global free zone operations arm of Economic Zones World today announced that it has appointed Florida-based Applied Technology and Management Inc. (ATM) to provide programme management and development support services for the first phase of its Logistics and Distribution Park in Orangeburg County, South Carolina. ATM, a costal, environmental, marine and water resources engineering, design and consulting firm, will also assist Jafza International in its efforts to ...  >>MORE

DP World throughput increases 18 per cent

Posted on 22/01/2008

Global port operator DP World has announced it handled more than 43.3 million TEUs (twenty-foot equivalent container units) across its portfolio of 42 terminals last year, an increase of 18 per cent on 2006. Growth across all three reporting regions continued strongly in 2007. The Middle East, Europe and Africa region grew 19 per cent in 2007 compared with 2006. Terminals in the UAE increased throughput by 19 per cent to 11 million TEUs, with the two Dubai ports of Jebel Ali and Port Rashid ...  >>MORE

Jafza Int'l to invest in a 6.5m sq metre -US$800m Special Economic Zone in Dakar, Senegal

Posted on 22/01/2008

Jafza International, the global free zone operations arm of Economic Zones World today signed a contract for the development of the Dakar Integrated Special Economic Zone. The contract, which was signed by Sultan Ahmed Bin Sulayem, Chairman Dubai World, the Senegalese Minister of Economy and Finance, M. Abdoulaye Diop and Aminata Nianne, the Director General of Senegal Promotion of Investment Board (APIX), in the presence of the Prime Minister of Republic of Senegal M. Hadjibou Soumar, and ...  >>MORE

Work starts on Dubai Maritime City

Posted on 17/01/2008

Dredging for 25 million square foot peninsula, which will house Dubai Maritime City (DMC), began last week with deposition of rocks off Dubai's mainland. The barges carried rocks and deposited them in the sea off Dubai Ports Authority's (DPA) Port Rashid Terminal and Dubai Drydocks, where the new maritime facility is being built. DMC is an integrated state-of-the-art development that will provide every element of infrastructure required by key marine and maritime related industries. It will be ...  >>MORE

DP World buys 48.5% stake in Africa port firm

Posted on 08/01/2008

DP World, which manages a container terminal in Mozambique in south-eastern Africa, said on Monday it has bought a 48.5 per cent stake in a firm that controls the Port of Maputo. The world's third largest port operator, which raised US$4.96 billion in the Gulf's biggest share sale in November and listed the shares on the Dubai International Financial Exchange, said in a statement it is paying US$32 million for the acquisition. In its existing business, DP World took over the container ...  >>MORE

Abu Dhabi Ports Company, NBAD sign Dh1.1 billion financing agreement

Posted on 17/12/2007

Abu Dhabi Ports Company (ADPC) and National Bank of Abu Dhabi (NBAD) have signed an AED 1.1 billion financing agreement to meet the initial construction costs of the Khalifa Port. This transaction will be ADPC's maiden debt financing transaction and will be in the nature of a revolving credit facility for a period of one year, a press release said on Sunday. ADPC is the master developer of the multi-billion dollar Khalifa Port and Industrial Zone (KPIZ) - located between the cities of Abu ...  >>MORE

Drydocks World - Dubai wins Shipyard of the Year award

Posted on 09/12/2007

The Dubai unit of Drydocks World (DDW), Dubai World's leading maritime arm, added another feather to its cap when the prestigious Lloyd's List Middle East and Indian Subcontinent Awards chose it as the best Shipyard in the world this year. Drydocks World Chief Executive Officer Geoff Taylor was honoured with the Lifetime Achievement award. The awards were presented at a high-profile ceremony at the Taj Palace Hotel in Mumbai recently. The honours come at a time when Drydocks World is bearing ...  >>MORE

Dubai Ports market value at US$21.6bn

Posted on 22/11/2007

Dubai Ports World, the Dubai owned port operator with terminals from the UK to China, raised US$4.96 billion (Dh18.2bn) in the Middle East's biggest initial public offering. The world's fourth-largest ports company sold shares for US$1.30 (Dh4.8) each, the top of an indicated range, after the IPO was more than 15 times oversubscribed, it said yesterday. That gives a market value of US$21.6bn (Dh79.3bn). Dubai's biggest step to date in establishing itself as a global financial centre surpasses ...  >>MORE

Dubai World walks away with four Seatrade awards

Posted on 08/11/2007

Dubai World, one of the world's largest holding companies, was honoured at the Seatrade Middle East and Indian Subcontinent Awards on Monday night, where three of its flagship companies won awards in different categories. Almost 60 companies and organisations had been short-listed for 24 award categories at the prestigious annual regional awards recognising maritime safety and the environment, ship and port operations and efficiency, security and financing. For 20 years, Seatrade has ...  >>MORE

IPO values DP World at over US$21b

Posted on 05/11/2007

Dubai port operator DP World expects to raise US$4.32 billion in the region's biggest initial public offering (IPO) that values the company at US$21.58 billion. As announced last month, the IPO is in the form of a 20 per cent sale of stock by DP World's sole shareholder Port & Free Zone World, a government-owned entity, which will retain majority ownership. DP World set an indicative price for each share between US$1 and US$1.30. It is offering 2.822 billion shares to individual and ...  >>MORE

Dubai Ports buys 90 pct of Egypt container firm

Posted on 01/11/2007

Dubai port operator DP World said on Wednesday it had acquired a 90 percent stake in Egyptian Container Handling Co for $670 million. Located at Sokhna, near the mouth of the Suez Canal, the port is expected to have a capacity of 1.2 million 20-foot equivalent units by the end of 2009, DP World said in a statement. The Dubai government plans to sell a 20 percent stake in DP World next month in what could be the Middle East's largest initial public offering. (Emirates News Agency, WAM) ...  >>MORE

Mohammed bin Rashid views ports committee's report

Posted on 24/10/2007

H.H. Sheikh Mohammed bin Rashid Al Maktoum Vice-President and Prime Minister of UAE and Ruler of Dubai was appraised yesterday by Lt. General Sheikh Saif bin Zayed Al Nahyan, Minister of Interior, on a report compiled by the higher national committee for land airports and airports committee. As chairman of the committee, Sheikh Saif explained to Sheikh Mohammed the mandate and functions of the committee which was set up by the cabinet in areas of development of safety and security systems in ...  >>MORE

DP World offers 20% stake to global investors

Posted on 22/10/2007

Dubai is selling 20 per cent of terminal operator DP World in an initial public offering (IPO) open to global institutional investors, GCC nationals and UAE residents. The announcement follows months of speculation that the government-owned company was planning an IPO, but company officials had insisted until last week that it was not imminent. DP World is valued at about $20 billion (about Dh73 billion), a banking source said. Company officials did not disclose how much money the IPO will ...  >>MORE

DP World will invest Dh1.1b in port security

Posted on 21/10/2007

Dubai Ports World (DP World), the world's third-largest port operator, is investing Dh1.1 billion (US$300 million) in security, a senior official said."We are investing roughly US$300 million to secure 42 terminals that we operate worldwide," David Fairnie, DP World's director of security, told Gulf News on the sidelines of the International Federation of Freight Forwarders Associations (Fiata) World Congress, 2007, that kicked off in Dubai yesterday. The move comes as the US introduces new ...  >>MORE

Dubai Maritime City launches new website to promote world's largest maritime community

Posted on 08/10/2007

Dubai Maritime City has today, unveiled a sophisticated new website as part of a major campaign to educate national and international audiences about the offerings of the world's first purpose-built maritime centre. The new website - www.dubaimaritimecity.ae - features an aerial perspective of the Maritime City, where the visitor can navigate the master plan for a clear understanding of how each component of the development exists within the larger community. The fully interactive website ...  >>MORE

DP World may offer 30% shares in November IPO

Posted on 05/10/2007

The long-awaited opportunity for investors to own equity in one of Dubai's crown jewels will be coming sometime later this year. DP World, the Dubai Government port owner with holdings from the UK to China, plans to raise as much as US$3.5 billion (Dh12.85bn) in the Middle East's second biggest initial share offering, two people with knowledge of the proposal said. DP World may sell up to 30 per cent of its stock as early as next month to fund expansion and honour convertible bonds sold in ...  >>MORE

Dutch and Korea firms get Khalifa Port deal

Posted on 02/10/2007

Dutch dredging firm Royal Boskalis Westminster and its South Korean partner Hyundai have won a 1.1 billion euro (Dh5.75 billion) contract from Abu Dhabi Ports Company (ADPC) for the first phase of the new Khalifa Port. The project will be executed in four-and-a-half years starting October 2007, Boskalis said on its website. Boskalis said it will carry out the work in partnership with its subsidiary Archirodon and Hyundai. The Dutch firm's share of the deal is about 670 million euros. The port ...  >>MORE

Dubai Ports Terminal Two will add five million TEUs

Posted on 02/10/2007

The opening of Dubai Ports World's Terminal Two in August this year is expected to lead to a capacity increase of an additional five million TEUs (twenty-foot equivalent units) to the existing nine million TEU capacity, according to a company executive. "Capacity for DP World's Dubai Terminals was previously nine million TEUs. Phase one and two of the new terminal will jointly add five million TEUs,” Zahir Asger, one of the DP World's spokespeople, told Emirates Today. Attracting a total ...  >>MORE

Dubai issues Maritime City law

Posted on 26/09/2007

The Dubai Government has issued the Law No. (11) of 2007 establishing the Dubai Maritime City, which is to gradually incorporate the ship repair and maritime services companies located at Jadaf Dubai, a top official said. According to the new law, the Dubai Maritime City Authority (DMCA) will be able to levy fees and register vessels and professionals in the maritime sector, set up a maritime arbitration centre as well as become a centre for marine insurance and re-insurance. A copy of the ...  >>MORE

Dubai World signs MoU with Malaysian MMC

Posted on 25/09/2007

MMC Corporation Berhad (MMC) and Dubai World yesterday signed a Memorandum of Understanding to explore areas of common interest with a view to jointly developing areas in South Johor, including MMC's landbank of 9,125 square meters (2,255 acres) at Tanjung Bin, Johor, which has been earmarked for industrial development. According to a press release issued Monday, MMC and Dubai World will develop a maritime centre masterplan that will comprise oil terminal activities, drydocks, a shipyard, ...  >>MORE

Dubai World announces plans to develop US$150 million resort in Zanzibar

Posted on 21/09/2007

Istithmar, a Dubai World Company's subsidiary, today announced plans to invest US$ 150 million in developing a new luxury resort in Zanzibar. The move follows a major strategic agreement between the company and the Zanzibar government. The 76-hectare site at Muyuni Beach will contain a 50-room residence and spa retreat, and a 150-room luxury hotel. Both developments will be operated by major international luxury hotel brands. Moreover, private luxury beach villas will be developed for sale ...  >>MORE

DP World consortium to build Rotterdam terminal

Posted on 18/09/2007

Rotterdam - A consortium led by DP World yesterday signed a contract to develop and manage a new container terminal in Rotterdam that will increase the largest European port's current container handling capacity by 40 per cent. DP World holds a 30 per cent stake in the 900-million euro (about Dh4.5 billion) Rotterdam World Gateway terminal, which is part of the large Maasvlakte-2 development unveiled by the Port of Rotterdam Authority. The Dubai firm's partners in the venture, announced ...  >>MORE

DP World plans to launch IPO for expansion

Posted on 29/08/2007

Dubai Ports World commonly known as DP World is considering to offer a portion of its shares for public subscription as one of the available options for financing the company's expansions worldwide, Chairman of the company Sultan Bin Sulayem has revealed. Seeking other financing methods such as loans or bonds is still an option, he said, noting that DP World would opt the most cost-effective financing method, The Gulf Today reported today. Meanwhile, Sulayem explained that DP World was ...  >>MORE

Drydocks World Dubai builds the world's largest semi-submersible drilling rig hull

Posted on 29/07/2007

Drydocks World Dubai is currently working towards completing the construction of the world's largest semi-submersible drilling rig for Aker Kvaerner. Sultan Bin Sulayem calls for building national management talents to administer Dubai World's global network. Building a bankable pool of national management talent is an integral part of Dubai World's long-term development strategy and will be pursued vigorously in all group business units. Sultan Ahmed Bin Sulayem, Chairman, Dubai World, ...  >>MORE

Dubai Drydocks to acquire 100% of Singapore firm

Posted on 27/07/2007

Dubai Drydocks World, the Dubai-based shipyard operator, yesterday said it will acquire 100 per cent of Singapore-based Pan United Marine (PUM). "Dubai World's global shipyard operator, Dubai Drydocks World (DDW), yesterday announced that it is preparing to exercise its option to acquire 100 per cent ownership of the Singapore-based Pan United Marine (PUM) after receiving acceptances of 92.29 per cent of shares as of July 25, when the offer closed in Singapore," a statement from the company ...  >>MORE

Jebel Ali Port to welcome mega container ships

Posted on 26/07/2007

DP World-UAE has announced the completion of construction work in the first phase of stage 1 of its Mega Max container terminal in Jebel Ali Port and the start of work on the rest of the project. The new terminal has a quay of 1,200 meters long, with a handling capacity of 2.5 million TEU?s. The work also involved deepening of the channel up to 17 meters, enabling Jebel Ali Port to receive mega-size new generation vessels. The ships will start to call at the new terminal from the first week of ...  >>MORE

Sultan Bin Sulayem tours DP World's container terminal in Brisbane

Posted on 18/07/2007

Sultan Ahmed Bin Sulayem, Chairman, Dubai World, toured DP World's container terminal in Brisbane on Monday (July 16) and reiterated the group's support to one of Australia's premier ports. Bin Sulayem, who is currently on a week-long visit to Australia, met senior management officials at DP World's Brisbane container terminal, including Cameron Thorpe, General Manager, DP World, Brisbane. Bin Sulayem, who also held talks with Paul Lucas, Minister of Transport in the Queensland State ...  >>MORE

Dubai Drydocks World takes control of Singapore shipyard

Posted on 13/07/2007

Dubai Drydocks World, the maritime holding company of Dubai World, said it has taken control of Singapore's PanUnited Marine Ltd (PUM) after buying 84.8 per cent of its shares. Dubai Drydocks appointed four directors to PanUnited's board yesterday, the company said in a statement. The acquisition is a "strategic first step in taking the expertise of the Dubai Drydocks World group companies to the international stage,” Dubai Drydocks World Chief Executive Geoff Taylor said in the statement. ...  >>MORE

DP World-led consortium to develop Rotterdam terminal

Posted on 12/07/2007

The Port of Rotterdam has announced that a consortium consisting of DP World, Mitsui OSK Lines, Hyundai Merchant Marine, Neptune Orient Lines and CMA CGM has been awarded the right to equip and operate the first terminal in the Maasvlakte 2 development in Rotterdam. Dubai Ports World, the world's third largest port operator, yesterday said the consortium led by it won the contract. However, the port operator refused to reveal the value of the deal. CEO of DP World, Mohammed Sharaf said: ...  >>MORE

DP World raises US$3.25b from two bond issues

Posted on 26/06/2007

Port operator DP World has raised US$3.25 billion in Islamic and conventional bond sales to refinance existing debt and fund its expansion. The company said it exceeded its target of US$3 billion for the two bond issues. DP World sold US$1.5 billion of Sukuk, maturing in 2017 and priced 1.15 percentage points over US Treasuries. The US$1.75 billion, 30-year conventional bond issue was priced 1.6 percentage points more than US Treasury rates. More than half of the subscription for the ...  >>MORE

Saif bin Zayed presides over ports security meeting

Posted on 19/06/2007

Video
Lt. General Sheikh Saif bin Zayed Al Nahyan, Minister of Interior presided over the meeting of the land ports security committee which is a branch of the Higher National Committee for land ports and airports. The meeting was attended by Sultan bin Saeed Al Mansouri, the Minister of Government Sector Development and Brigadier Khamees bin Suwaif, the General Director of the Criminal Security in the Ministry of Interior besides Brigadier Nasser Al Nuaimi, the Director of the office of the ...  >>MORE

DP World to invest Dh1.95b in Senegal

Posted on 06/06/2007

DP World said yesterday it will invest US$534 million (Dh1.95 billion) in Senegal to upgrade the Port of Dakar and build a container terminal as part of several projects being considered in the West African nation. The company said it has won a 25-year concession from the Senegal government to manage the port facilities. It will initially invest about Dh490 million in infrastructure and equipment at the Terminal à Conteneur to more than double its capacity to 550,000 TEUs (twenty-foot ...  >>MORE

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Quick List

DP World to boost capacity of China port


Abu Dhabi begins dredging at site of new Khalifa Port


Port Rashid in US$12bn redesign


DP World Sokhna deal marked by top level signing ceremony


Sharjah container volume grows 8%


DP World - UAE records 19% growth in 2007


Emirates Shipping Line joins North China India Express


Jebel Ali's container capacity to grow 27%


Jafza in port deal with Philippines


Jafza Int'l selects ATM as programme manager for $600m Logistics Park in US


DP World throughput increases 18 per cent


Jafza Int'l to invest in a 6.5m sq metre -US$800m Special Economic Zone in Dakar, Senegal


Work starts on Dubai Maritime City


DP World buys 48.5% stake in Africa port firm


Abu Dhabi Ports Company, NBAD sign Dh1.1 billion financing agreement


Drydocks World - Dubai wins Shipyard of the Year award


Dubai Ports market value at US$21.6bn


Dubai World walks away with four Seatrade awards


IPO values DP World at over US$21b


Dubai Ports buys 90 pct of Egypt container firm


Mohammed bin Rashid views ports committee's report


DP World offers 20% stake to global investors


DP World will invest Dh1.1b in port security


Dubai Maritime City launches new website to promote world's largest maritime community


DP World may offer 30% shares in November IPO


Dutch and Korea firms get Khalifa Port deal


Dubai Ports Terminal Two will add five million TEUs


Dubai issues Maritime City law


Dubai World signs MoU with Malaysian MMC


Dubai World announces plans to develop US$150 million resort in Zanzibar


DP World consortium to build Rotterdam terminal


DP World plans to launch IPO for expansion


Drydocks World Dubai builds the world's largest semi-submersible drilling rig hull


Dubai Drydocks to acquire 100% of Singapore firm


Jebel Ali Port to welcome mega container ships


Sultan Bin Sulayem tours DP World's container terminal in Brisbane


Dubai Drydocks World takes control of Singapore shipyard


DP World-led consortium to develop Rotterdam terminal


DP World raises US$3.25b from two bond issues


Saif bin Zayed presides over ports security meeting


DP World to invest Dh1.95b in Senegal