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INFRASTRUCTURAL DEVELOPMENT - SEAPORTS & SHIPPING

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

DP World signs agreement to manage Khalifa Port

Posted on 03/06/2007

Dubai Ports World, the world's third-largest container port operator, yesterday announced that it has signed an agreement to manage Khalifa Port in Abu Dhabi. The agreement with Abu Dhabi Ports Company (ADPC) includes a contract for DP World's sister company Economic Zones World (EZW) to operate the Free Trade and Logistics Zone located in Taweelah, Abu Dhabi. The three companies involved in the agreement are planning to form a joint venture in the near future, according to a joint statement ...  >>MORE

Dubai World's London Gateway secures UK Government's approval

Posted on 31/05/2007

Global ports owner and operator DP World has welcomed today's news from the UK Government that it has decided to grant approval for the company's London Gateway development on the River Thames at Essex. The initiative will see the regeneration of the 1,500 acre former oil refinery site at Shell Haven, creating a world class UK infrastructure asset and delivering approximately 14,000 new jobs. "This is important news and we are very pleased with the UK Government's decision. DP World is ...  >>MORE

Dubai buys majority in Singapore marine firm

Posted on 29/05/2007

Dubai Drydocks World LLC (DD World), the recently-launched maritime holding company and a member of Dubai World, acquired a 70 per cent stake in Pan-United Marine (PUM) of Singapore by making a voluntary conditional cash offer, an e-mailed statement said yesterday. This is DD World's first major overseas acquisition. PUM is a major shipyard with facilities in both Singapore and Batam, Indonesia. Like DD World, PUM is involved in ship repair, ship building and conversions. DD World made a ...  >>MORE

Jebel Ali Port Declared 'Best Seaport- Middle East' for 13th Consecutive Year

Posted on 14/05/2007

Jebel Ali Port, DP World-UAE's flagship terminal, has been awarded the title of 'Best Seaport - Middle East' for the 13th consecutive year at the Asian Freight and Supply Chain Awards (AFSCA) 2007. The premier port has already been ranked as the 8th top container port worldwide in terms of through-put. The award, instituted 21 years ago by Cargonews Asia, a leading freight and logistics publication, is considered one of the most prestigious of its kind in the industry. "This award ...  >>MORE

DP World profits fall

Posted on 20/04/2007

DP World yesterday reported a 10.55 per cent drop in net profits for 2006 to US$216.91 million compared with US$242.5 million in 2005 due to costs related to P&O's acquisition. Total revenues of Dubai Ports Authority (DPA) and its subsidiaries were USUS$3.48 billion for 2006 compared with US$674.9 million during the previous year, according to a statement posted on the Dubai International Financial Exchange (DIFX), where the PCFC's US$3.5-billion sukuk is listed. DPA is the legal entity ...  >>MORE

Dubai Drydocks World established

Posted on 12/04/2007

Dubai World has consolidated its drydocks and maritime business by bringing Dubai Drydocks, Al Jadaf Shipyard, Platinum Yachts FZ and Platinum Yacht Management under a single umbrella - Dubai Drydocks World (DD World), a statement said. Dubai World, which runs DP World, the world's third largest port operator, yesterday announced the establishment of Dubai Drydocks World (DD World) to consolidate the dry docks and maritime sector of the organisation. All of these business units have aligned ...  >>MORE

DP World Cuacedo achieves international security standards

Posted on 10/04/2007

Caucedo - Global marine terminal operator DP World has achieved the international standard ISO/PAS 28000:2006 for security management at DP World Caucedo in the Dominican Republic. DP World Caucedo is already a participant in the US Container Security Initiative (CSI) which sees US Customs officers located at the terminal to check cargo destined for the US. DP World is rolling out the independently audited standard through its network of 42 terminals. It is the only global marine terminal ...  >>MORE

DP World sees 75% rise in container handling capacity

Posted on 10/04/2007

DP World is projecting a 75 per cent increase in container handling capacity at its terminals worldwide as it pursues new projects worth billions of dollars. The company said it achieved a throughput of 42 million TEUs (twenty-foot equivalent container units) in 2006, an increase of 16 per cent on DP World and P&O's combined volume of 2005. British port group P&O's US$6.8-billion acquisition in early 2006 made DP World the world's third biggest terminal operator by container volume. It ...  >>MORE

New Jebel Ali terminal to be operational in July

Posted on 20/03/2007

DP World's new container terminal at Jebel Ali Port will be operational in July, a senior official said. The US$1.5-billion phase 11 of port expansion now under way will increase the port's container handling capacity from 9 million TEUs (twenty-foot equivalent units) to 15 million in 2008. "The first phase will be operational in July of this year, with full completion expected in 2008. When finished, Jebel Ali will have an additional 2,500 metres of quay length with a draft of 17 metres," ...  >>MORE

DP World quits US business

Posted on 18/03/2007

DP World has completed the sale of its US business a year after American politicians prevented it from running the country's key ports it acquired as part of the P&O deal. The Dubai-based port operator sold its wholly-owned subsidiary P&O Ports North America (Popna) to US-based AIG Global Investment Group. "The sale fulfils the commitment made by DP World last year to sell its US assets to an American buyer," DP World said. Neither company has revealed the value of the transaction. But ...  >>MORE

DP World may develop Russia port

Posted on 16/03/2007

Dubai World, owner of Dubai Ports World, is in discussions with the Russian Government to develop an inland port and special economic zone on the outskirts of Moscow, the Dubai-based company said yesterday. Vice-Chairman Jamal Majid bin Thaniah said the holding company will explore investment opportunities in Russia, which he recently discussed at a meeting with Russia's Transport Minister Igor E Levitin, as well as explore business opportunities in the country's ports, shipping and ...  >>MORE

DP World Vancouver first marine terminal in Americas to achieve international standard for security management

Posted on 12/03/2007

DP World Vancouver has become the first marine terminal in the Americas to achieve international certification for its security management systems and operations. Lloyds Register Quality Assurance (LRQA), an independent international auditing body, has audited global marine terminal operator DP World's Canadian terminal for compliance with the international standard ISO/PAS 28000:2006. This follows certification at both DP World's corporate head office in Dubai, UAE, and pilot site, Djibouti ...  >>MORE

DP World abandons Australian unit merger

Posted on 01/03/2007

DP World said yesterday it was no longer discussing a planned merger of its wholly-owned Australian subsidiary P&O Maritime Services with offshore oil services firm Mermaid Marine Australia. It said it was "disappointed" the deal agreed in December was not proceeding. Under the deal, Mermaid was to issue 221.9 million shares to the Dubai-based port firm in return for 100 per cent of the shares in three DP World units of P&O Maritime Services, P&O Maritime Services (PNG) Limited and P&O Polar ...  >>MORE

DP World - UAE records 17pc growth in 2006

Posted on 26/02/2007

DP World - UAE has announced a 17 per cent growth in yearly shipping throughput to 8.92 million TEUs (twenty-foot equivalent units) in 2006, up from 7.62 million TEUs in 2005 making it the 8th largest port globally according to Containerisation International. The leading port operator attributed the increase to the strong economic development in the GCC region that has boosted demand for shipping services. DP World - UAE reiterated its commitment to increasing satisfaction levels among its ...  >>MORE

DP World leads in race to bid for Hamburg port

Posted on 25/02/2007

Frankfurt - DP World Ports is leading a global race to buy into the operator of the German port of Hamburg, a newspaper reported yesterday. Local newspaper Hamburger Abendblatt said DP World has offered to pay 1.6 billion euros (US$2.10 billion) and bring additional ship traffic to the world's eighth-largest container port. The city, which is currently looking into a share float or selling a 49.9-per cent stake in the port operator Hamburger Hafen-und Lagerhaus (HHLA), declined to comment on ...  >>MORE

DP World's US assets sale hits snag

Posted on 16/02/2007

DP World's plans to sell its assets in the United States are in jeopardy after a US port authority attached new conditions and fees to the deal. According to DP World, the Port Authority of New York and New Jersey asked for a "departure fee" from the world's third biggest port operator, a move the company says could derail the deal. "We are disappointed with their approach. If they persist, it could be a deal breaker," chief executive officer Mohammad Sharaf told Gulf News. DP World ...  >>MORE

Khorfakkan container throughput falls 9%

Posted on 13/02/2007

Throughput at Khorfakkan Container Terminal (KCT), a leading regional trans-shipment hub, dropped almost nine per cent in 2006 from the previous year, while Sharjah Container Terminal (SCT) saw an increase of 24 per cent. KCT achieved a throughput of 1.73 million TEUs (twenty-foot equivalent units) last year compared with about 1.9 million TEUs in 2005. SCT's container volumes grew to 282,082 TEUs from more than 230,000 TEUs in 2005. Gulftainer, which operates both KCT and SCT on behalf ...  >>MORE

Expansion work at Sharjah terminal

Posted on 12/02/2007

Work has commenced on the Sharjah Container Terminal (SCT) and the civil work is projected to be completed at the beginning of 2008. A major expansion to the SCT -- the first container terminal in the Gulf was earlier announced in 2006 on the occasion of the terminals 30th anniversary. Such has been the growth of business at the SCT in recent years -- more volume/more and bigger ships/new services -- prompted by good performance, a wide range of shipping lines and an increasingly ...  >>MORE

DP World sees 12 per cent rise in Jebel Ali volumes

Posted on 06/02/2007

Dubai Ports World, the world's third-largest port operator, expects container volume at Jebel Ali Port to rise by 10 to 12 per cent by the end of 2007, a senior DP World official said yesterday. The Jebel Ali Port in 2006 handled 8.9 million 20ft equivalent units (TEUs), said Abdulla bin Damithan, DP World's deputy commercial director. He said the first phase of the Jebel Ali Port expansion, scheduled for completion in July, will give it an additional five million TEUs capacity. The ...  >>MORE

DP World puts growth at heart of its strategy

Posted on 05/02/2007

When senior officials in Dubai's DP World, the container terminal operator, were caught up last year in the political furore over their purchase of five US container terminal operations and some other passenger and cargo-handling businesses, many appeared in something near shock. The US terminals accounted for only 10 per cent of the turnover and less of the profits of P&O, the UK container ports and ferries operator they were buying. Since the company had sought and easily gained ...  >>MORE

United Arab Shipping annual profits drop

Posted on 02/02/2007

United Arab Shipping Company (UASC) said its profit dropped in 2006 as the industry felt the burden of rising operating costs due to high fuel prices. "Our profit went down in 2006 compared with 2005. It was a tough year, but under the circumstances we did well," UASC chief executive officer Ken Bloch Soerensen told Gulf News. Soerensen declined to provide comparative financial figures for the two years. He said freight rates were not favourable to shipping lines last year as new ships ...  >>MORE

Sharjah Container Terminal volumes increase

Posted on 30/01/2007

2006 turned out to be another major chapter in the history of Sharjah Container Terminal (SCT). Building on Gulftainer's 2005 impressive performance, 2006 volumes increased by a massive 24% over the previous year, prompted by good terminal performance, a wide range of shipping lines offering direct and relay services and an increasingly recognized advantageous position in the centre of the rapidly expanding Sharjah and UAE markets. Gulftainer director and general manager Peter Richards ...  >>MORE

DP World plans 50% boost in container numbers

Posted on 28/01/2007

Dubai Ports World plans to boost the number of containers it handles by 50 per cent in the next three years, its Chairman Sultan Ahmad Bin Sulayem says. Speaking to Reuters late on Thursday, Sulayem said Dubai World, the owner of DP World, will soon buy a hotel in Paris as part of its broad-based expansion plan and sees US assets as very attractive even after a political row last year over its US operations. DP World took over facilities at six major US ports when it bought Britain's P&O ...  >>MORE

Bin Sulayem reaffirms commitment to Kulpi Port

Posted on 07/01/2007

The Chairman of Dubai World, Sultan Ahmed Bin Sulayem, said yesterday that Dubai World was committed to the Indian state of West Bengal's development and to being involved long term in the progress of the important Indian economy as part of its global growth strategy. Speaking on his visit to the state capital Kolkata, Mr Bin Sulayem said Dubai World is keen on pursuing investment opportunities in India and reaffirmed his commitment to the Port of Kulpi, being developed by Dubai World's ...  >>MORE

Dubai World Chairman receives Deputy Prime Minister of Malaysia

Posted on 07/01/2007

The Deputy Prime Minister of Malaysia, Dato' Sri Mohammed Najib Bin Tun Haji Abdul Razak, met Sultan Ahmed Bin Sulayem, Chairman of Dubai World, on Saturday to discuss opportunities for expanding trade ties between the two sides Bin Sulayem briefed the visiting dignitaries on the developmental projects currently being undertaken by Dubai World companies, particularly the three Palm Islands and the The World projects, and praised UAE-Malaysian relations. 'Dubai and Malaysia share a very ...  >>MORE

DP World to sell part stake in Australian units

Posted on 05/01/2007

Dubai Ports World (DP World) will sell stakes in two of its Australian logistics companies to a consortium led by private equity firm Kaplan Equity Limited in a transaction expected to fetch up to $200 million (Dh734 million). The company, which operates five container terminals in Australia, said P&O Automotive and General Stevedoring (A&GS) and P&O Trans Australia (Pota) will become joint ventures under the deal, targeted for completion in the first quarter of 2007. DP World chief ...  >>MORE

Dnata Cargo to rebrand its terminal operation

Posted on 28/12/2006

Dnata Cargo is to rebrand its terminal operation in 2007 to FreightGate - a fresh generic identity for its growing portfolio of cargo terminals at Dubai International Airport and elsewhere, the company said in a statement. The FreightGate name will number Dnata Cargo's seven terminals, beginning with FreightGate 1, currently the Main Cargo Terminal at Dubai Airport; through to FreightGate 7 at the upcoming Dubai World Central International Airport, scheduled to open mid-2008. The other ...  >>MORE

Dubai Cargo Village grows 15.48% in November

Posted on 18/12/2006

Dubai Cargo Village (DCV) registered 15.48 per cent growth in November 2006 as compared to the same period last year. According to a press statement, the Cargo Village handled a record 134,451.18 tonnes for the month of November 2006 as compared to 116,426.13 tonnes in November 2005. Dubai Cargo Village handled a record total of 1,367,603.73 tonnes form January to November 2006 as compared to 1,199,682.60 tonnes during the same period in 2005, a growth of 14 per cent. It registered a ...  >>MORE

DP World sells stakes in two China terminals

Posted on 17/12/2006

Dubai Ports World said it had reached an agreement with China Merchants Holding (International) to sell its stake in two of three Shenzhen terminals for US$229 million. State-owned DP World said another minority shareholder had also agreed to sell its holding in the Shenzhen terminals to CMHI, which would enable the three terminal facilities in the port to merge into a single container terminal, named Mega SCT. Before the deal CMHI owned 50 per cent of Shekou Container Terminal 1, 51 per ...  >>MORE

DP World sells US port assets to AIG Global

Posted on 12/12/2006

The North American assets of Peninsular and Oriental Steam Navigation Company (P&O) have been sold to AIG Global Investment Group. DP World, which owns P&O, would not disclose the amount of the sale, which included portions of ports in New York/New Jersey, Philadelphia, Baltimore, Miami, Tampa and New Orleans, and other smaller assets along the East and Gulf Coasts of the United States. The assets were sold under the name P&O Ports North America (POPNA). "We kept our word to the American ...  >>MORE

DP World to accept bids for US assets in two weeks

Posted on 29/11/2006

DP World has written to US Senators it will accept final bids within two weeks for the sale of its assets at US ports acquired under the $6.8-billion P&O purchase in March. Nick Luff, former P&O chief financial officer overseeing the sale process, said in a letter: "Bidders have already been provided with a draft of the sales contract for their review, which will speed up the final contract negotiations." The Associated Press said DP World's assets could be worth $700 million. But company ...  >>MORE

Dubai groups sweep the board at logistics awards

Posted on 23/11/2006

Entities based in Dubai won the most regional logistics industry awards presented on Tuesday night, with Jebel Ali Port adjudged the best seaport and container terminal. Freight and logistics firm Aramex received laurels in three categories at the first annual Middle East Logistics Awards (Mela) at a ceremony in Dubai. Eighteen companies and four individuals were honoured in 27 award categories. The nominations, voting and results processes were audited by business consulting firm AGN ...  >>MORE

DP World to develop 1.5b Pound London Gateway Project

Posted on 12/11/2006

Dubai World Chairman Sultan Ahmed bin Sulayem has confirmed plans to invest UK Sterling Pounds 1.5 billion in a major infrastructure development project in the United Kingdom. The London Gateway project, to be executed by the group's flagship company, DP World, will include a world-class port capable of handling the largest deep-sea container ships, as well as the UK's largest business park. Bin Sulayem announced DP World's commitment during a visit to the London Gateway port and logistics ...  >>MORE

Dubai World investments now total more than Dh30b

Posted on 04/11/2006

State-owned Dubai World, the holding company for DP World, Nakheel, Jebel Ali Free Zone and Istithmar, has invested more than Dh30 billion in its businesses, its chairman said. Sultan Bin Sulayem told a bankers' lunch that Dubai World had invested the money in the various local and global operations of the businesses it is involved in, a statement from organisers Emirates Bank said. The figure includes investments in ports operator DP World, property firm Nakheel, the Jebel Ali Free Zone ...  >>MORE

Dubai Cargo Village volume sets record

Posted on 02/11/2006

Total cargo throughput at the Dubai Cargo Village recorded 15.03 per cent growth to 1.1 million tonnes from January to September compared to 956,817.28 tonnes in the same period of 2005, a statement said. "The DCV handled 132,753.31 tonnes in September 2006 compared to 113,504.95 tonnes in September 2005, an increase of 16.96 per cent," the DCV statement said. "Imports and exports increased 14.80 per cent to 127,236.84 tonnes in September from 110,830.47 tonnes in September 2005." The Dubai ...  >>MORE

Jebel Ali Port container capacity to increase nearly ten fold to 67m TEUs

Posted on 26/10/2006

Container capacity at the Jebel Ali Port will increase nearly ten fold to 67 million twenty foot-equivalent-units (TEUs) by 2030 from the current 7-8 million, a statement said. There are over 5,500 companies registered with the Jebel Ali Free Zone Authority (Jafza), including 140 Fortune 500 firms and dozens of internationally renowned brands. Latest figures show a huge 41 per cent jump in exports. A 64-member delegation of business leaders from the West African state of Ghana has toured ...  >>MORE

DP World to rebrand P&O Ports business

Posted on 18/10/2006

DP World said yesterday it will rebrand P&O Ports, which it bought earlier this year, to create an integrated marine terminal organisation. Jamal Majid Bin Thaniah, group chief executive officer of Ports and Freezone World, an umbrella company that oversees DP World and P&O businesses, said the decision to rebrand the terminals was taken after an independent brand audit among customers, partners and employees. "The rebranding will take place in all wholly-owned marine terminals and also ...  >>MORE

Dubai gears up to greet cruise tourists

Posted on 12/10/2006

The city's cruise terminal is gearing up to welcome as many as 50 cruise ships during the cruise tourism's winter season running from this month to next April. The passenger vessels, some of which are making their debut in the Middle East, are scheduled to bring a total of 64,993 passengers and crew, Dubai's Department of Tourism and Commerce Marketing (DTCM) said. "Dubai is becoming a popular cruise destination. The arrival of a record number of cruise ships over a six month period speaks ...  >>MORE

DP World may sell shares in London and Dubai

Posted on 02/10/2006

DP World, the Dubai-owned company that bought Peninsular & Oriental Steam Navigation Co. in February, may sell shares in London and Dubai, United Arab Emirates, as it seeks to become the world's biggest container ports operator. We're committed to an IPO by January 2008 but the final decision on where to list is still to be made,' Yuvraj Narayan, DP World's chief financial officer, said in a phone interview yesterday. Dubai is one option because it's the company's home territory, he said, ...  >>MORE

Sharjah ports handled 2.15m TEUs last year

Posted on 02/10/2006

Khorfakkan Container Terminal (KCT) and Sharjah Container Terminal (SCT) saw 2.15 million 20-foot (TEU) equivalent units last year, according to a senior manager of Gulftainer, which oversees container-handling operations at the ports. SCT accounted for 228,170 TEU and KCT 1,929,729 TEU, representing growth of 23.9 per cent at the former and 6.06 per cent at the latter, with an overall boost in traffic across both facilities of 7.7 per cent. The growth experienced at KCT was slightly ...  >>MORE

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Quick List

DP World to invest Dh1.95b in Senegal


DP World signs agreement to manage Khalifa Port


Dubai World's London Gateway secures UK Government's approval


Dubai buys majority in Singapore marine firm


Jebel Ali Port Declared 'Best Seaport- Middle East' for 13th Consecutive Year


DP World profits fall


Dubai Drydocks World established


DP World Cuacedo achieves international security standards


DP World sees 75% rise in container handling capacity


New Jebel Ali terminal to be operational in July


DP World quits US business


DP World may develop Russia port


DP World Vancouver first marine terminal in Americas to achieve international standard for security management


DP World abandons Australian unit merger


DP World - UAE records 17pc growth in 2006


DP World leads in race to bid for Hamburg port


DP World's US assets sale hits snag


Khorfakkan container throughput falls 9%


Expansion work at Sharjah terminal


DP World sees 12 per cent rise in Jebel Ali volumes


DP World puts growth at heart of its strategy


United Arab Shipping annual profits drop


Sharjah Container Terminal volumes increase


DP World plans 50% boost in container numbers


Bin Sulayem reaffirms commitment to Kulpi Port


Dubai World Chairman receives Deputy Prime Minister of Malaysia


DP World to sell part stake in Australian units


Dnata Cargo to rebrand its terminal operation


Dubai Cargo Village grows 15.48% in November


DP World sells stakes in two China terminals


DP World sells US port assets to AIG Global


DP World to accept bids for US assets in two weeks


Dubai groups sweep the board at logistics awards


DP World to develop 1.5b Pound London Gateway Project


Dubai World investments now total more than Dh30b


Dubai Cargo Village volume sets record


Jebel Ali Port container capacity to increase nearly ten fold to 67m TEUs


DP World to rebrand P&O Ports business


Dubai gears up to greet cruise tourists


DP World may sell shares in London and Dubai


Sharjah ports handled 2.15m TEUs last year