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INFRASTRUCTURAL DEVELOPMENT - SEAPORTS & SHIPPING

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

Esnaad orders five new vessels worth US$60m

Posted on 21/09/2006

Adnoc subsidiary Esnaad, a marine and supply base services company, has ordered five new vessels from Singapore at a cost of US$60 million as part of its fleet replacement, a top company official revealed. Darwish A. Al Qubaisi, General Manager, said that the fleet replacement process is ongoing to meet the expansion needs of the company. "The five new vessels two anchor handling vessels and three work boats will be built by Singapore-based Labroy Shipbuilding and Engineering. Deliveries are ...  >>MORE

DP World to increase global container handling capacity

Posted on 20/09/2006

DP World, the world's third largest port operator, is to boost container handling capacity at its terminals worldwide to 70 million units a year within a few years, from about 46.5 million at present, a company official said yesterday. This will include a five million TEU (20-foot equivalent container units) addition at the port of Jebel Ali by the end of 2007. "Our capacity will increase to 70 million TEUs within a few years," DP World senior vice-president and managing director Mohammad Al ...  >>MORE

DMC begins infrastructure work

Posted on 20/09/2006

Dubai Maritime City (DMC) a comprehensive maritime complex in the world -- said on Tuesday that the construction of dry berths, slide ship transfer pit and other basic site infrastructure has begun. The commencement of civil works for berths and ship transfer area marks one of the pivotal stages in finalizing the shipyard infrastructure. Dubai Maritime City establishes a series of districts supportive of the spectrum of maritime business commercial needs. The scope of the construction ...  >>MORE

UAE and Pakistan sign custom agreement

Posted on 18/09/2006

The UAE and Pakistan signed in Dubai yesterday an agreement on mutual assistance and cooperation on customs issues. The agreement was signed for the UAE by Mohammed Khalifa bin Fahd Al Muhairi, Director General of Federal Customs Authority and for Pakistan by Shahid Raheem Sheikh, Chairman of Pakistan's Customs. The agreement also provides for cooperation in areas of implementation of customs legislation, prevention of violations of custom laws in addition to exchange of information. (Emirates ...  >>MORE

DP World closes in on sale of US ports

Posted on 13/09/2006

Dubai's DP World will start a second round of bidding for its US port assets; with Morgan Stanley, Carlyle Group and SSA Marine all among the last bidders in the highly politicised sale, according to the Financial Times. The three companies are among five or six bidders weeded out from among hundreds of potential buyers thought to have expressed at least some interest in the business, according to a person familiar with the process, the paper said. DP World announced the sale of its US ...  >>MORE

Gulftainer signs agreement with government of Comoros Islands

Posted on 12/09/2006

Gulftainer Co. Ltd. of Sharjah, managers and operators of the container terminals of Sharjah and Khorfakkan, has announced the signing of a key agreement with the government of the Comoros Islands for a 15 year contract to operate, manage and upgrade the ports of Moroni and Mutsamudu. Gulftainer will manage Moroni Port with the aim of expanding the port's capabilities by increasing the cargo storage area, constructing warehousing facilities and introducing the latest, state of the art, cargo ...  >>MORE

DP World opens new terminal

Posted on 10/09/2006

DP World officially opened the Vancouver Terminal in Canada and said it plans to double the port's capacity. Construction of the US$140 million (Dh518m) project began in the third quarter of 2004 and the first phase of the expansion was recently completed when the second of the refurbished berths began taking vessel calls. The extension raises the terminal's capacity from 360,000 TEU to 800,000 TEU. There is also potential to further expand the terminal to reach a capacity of 1.2 million ...  >>MORE

Dubai Ports World gets Lloyds List certificate

Posted on 07/09/2006

Ports World received a Lloyds List certificate for quality guarantee concerning its security administration operations and systems. DP World is the first international company involved in transport and logistics services to receive this certification. "This rigid international standard is a witness to DP World's commitment to the highest levels of practises in security administration," said DP World Chairman Sultan Ahmad Bin Sulaiman. (Gulf News) ...  >>MORE

Dubai Maritime City's site reclamation complete

Posted on 06/09/2006

Dubai Maritime City (DMC) -- the world's largest and the most comprehensive maritime complex in the world -- has announced the completion of reclamation work on-site, marking one of the pivotal stages in the construction of the iconic development. Once complete, Dubai Maritime City will not only pave the way for a major impetus to the global maritime trade but also comprehensively redefine the international maritime community. With the conclusion of the reclamation work, real construction ...  >>MORE

DP World set to shortlist buyers for its ports in US

Posted on 03/09/2006

Dubai Ports World's sale of its six American ports, valued at US$700 million (Dh2.56bn), may take longer than the scheduled six-month period that ends this month. The process, which started in April, has entered its second round and DP World will soon shortlist six to eight buyers, said a top executive. The executive said it is unlikely the deal will be sealed by the end of September. DP World took over port operations at Philadelphia, New York, New Jersey, Miami, Baltimore and New ...  >>MORE

DP World to draw up shortlist for US ports sale this week

Posted on 29/08/2006

London - World will decide on a shortlist of six to eight buyers for its US port assets by the end of this week, with infrastructure investment funds, private equity buyers and port operators all expected to be represented. Among the strongest contenders for inclusion in the second round of bidding are understood to be the infrastructure fund of Morgan Stanley, the investment bank; Carlyle Group, the private equity group; and Carrix, parent of SSA Marine, a Seattle-based container terminal ...  >>MORE

Bechtel wins Khalifa Port contract from ADPC

Posted on 29/08/2006

The Abu Dhabi Ports Company (ADPC) yesterday awarded a multi-million dirham project management contract to Bechtel of the US to develop the Khalifa Port and Industrial Zone (KPIZ). Ahmad Saeed Al Calily, ADPC Managing Director, and Sabah Baraka, Vice-President of International Bechtel Company, signed the agreement. "The signing of this contract with Bechtel and our strategic partnership is yet another example of how we are continuing to rapidly implement the vision of creating a world class ...  >>MORE

UASC transfers to DP World-operated Pusan Newport

Posted on 28/08/2006

Pusan, South Korea - A special welcoming ceremony has been held to mark the first of two new strings of vessel calls of United Arab Shipping Co. S.A.G. (UASC) to DP World-operated PNC in South Korea. The M/V ABU DHABI and M/V IBN HAYYAN, a UASC mother vessel and feeder, arrived at the Korean port on Friday. The ceremony was attended by the vessels' crew and UASC, PNC and DP World company officials. The weekly UASC's Asia-Europe container service (AEC) and Japan service will bring an ...  >>MORE

DP World in running for a Larnaca port upgrade

Posted on 20/08/2006

DP World, which this year bought British port operator P&O for Dh25 billion, is among three groups that will be invited to bid for a multimillion dollar contract to revamp the port of Larnaca in Cyprus. DP World, together with the Port of Amsterdam, operator of the second-largest harbour in the Netherlands, and Paris-based Bouygues, the world's No 2 construction company, will be asked to bid for the contract before the end of the year, said Chryssis Prenzas, the Chairman of the Cyprus Ports ...  >>MORE

DP World profit falls after acquisition of CSX Corp

Posted on 20/08/2006

DP World said profit fell 5.4 per cent last year following its acquisition of container terminals from CSX Corp. Net income fell to Dh880.3 million (US$239.7m) from Dh931m in 2004, the company said in a statement filed with the Dubai International Financial Exchange. Sales increased 46 per cent to Dh2.47 billion. DP World, which was called Dubai Ports Authority, agreed to buy container terminals in countries including Hong Kong from Florida-based CSX for about US$1.15bn (Dh4.22bn). ...  >>MORE

Giant containers use Sharjah Container Terminal

Posted on 20/08/2006

With the economic activity in Sharjah continuing to rapidly develop, the Gulftainer container terminal saw another in a long line of successful calls at its port, with the docking and sail of APL's Far East/Gulf 'WAX' service, with the ship the APL Ningbo. Like her sister ship 'APL Chiwan' which also called at the Sharjah Container Terminal (SCT) recently, with a length of 299 meters and capable of carrying around 4,700 TEU, this substantial ship exemplifies the increased scale of business ...  >>MORE

DP World to build terminal in Pakistan

Posted on 19/08/2006

Islamabad - DP World will invest US$211 million in building a second container terminal at Pakistan's Port Qasim in Karachi. DP World chief executive officer Mohammad Sharaf and Port Qasim Authority chairman Vice-Admiral M Asad Quresh signed the agreement on Thursday in the presence of Prime Minister Shaukat Aziz and Ports and Shipping Minister Babar Khan Ghauri. The prime minister termed the agreement "historic" and said Pakistan needed better means of transportation and infrastructure to ...  >>MORE

DP World to receive bids for American ports sale

Posted on 19/08/2006

Dubai Ports World was expected to receive preliminary bids from suitors for its American assets late yesterday in the United States. DP World had earlier received more than a hundred enquiries for the sale of its five US ports, which it had pledged to sell to an American buyer after pressure from Congress leaders. In mid-July, the company short-listed around 60 buyers, according to Mohamed Sharaf, DP World Chief Executive Officer, and sent out a "teaser”, such as financial information on ...  >>MORE

DP World profit falls to Dh880.31m as cost rises sharply

Posted on 16/08/2006

Net profit at Dubai Ports Authority, renamed DP World earlier this year, fell 5.44 per cent in 2005 due to a sharp cost increases, especially finance charges, a statement showed. DP World, now the world's third-biggest ports operator after its acquisition of P&O earlier this year, said net profit in 2005 fell to Dh880.31 million from Dh930.95 million in the previous year. Revenue from operations rose 45.5 per cent to Dh2.48 billion, the port operator said in a statement posted on the Dubai ...  >>MORE

Ras al-Khaimah Port undergoing Dh110m revamp

Posted on 05/08/2006

Ras al-Khaimah is boosting its second port facility with an investment of Dh110 million amid rising cargo volumes. The government has already spent Dh30 million on building a 303-metre jetty and a passenger terminal at Ras Al Khaimah Port, which previously had a 160-metre berth. Saqr is the main seaport in the emirate and a container terminal is being developed by Kuwait-based KGL Ports International. Work on the Ras al-Khaimah Port jetty was completed last month under phase one. The second ...  >>MORE

DP World in talks to buy ports in Americas

Posted on 02/08/2006

Santo Domingo, The Dominican Republic: Unfazed by the setback over P&O's assets in the United States, DP World is intensifying efforts to acquire ports in the Americas. It is in talks to buy and develop ports in several countries in the region, a company official said. "There are at least six or eight locations that are asking us to come in. By the end of this year our footprint will be bigger," Dave Sanborn, managing director of the Americas Division, told Gulf News. The world's third ...  >>MORE

DP World to expand Caribbean port

Posted on 01/08/2006

Santo Domingo: DP World plans to spend US$200 million on expanding its container port in the Dominican Republic as part of its efforts to attract more shipping lines. DP World acquired the port of Caucedo in this Caribbean nation from US-based CSX World Terminals in March last year. According to Jack Williams, a DP World official and executive director of Zona Franca Multimodal Caucedo, the joint venture that owns and operates the port, the new investment is needed to position Caucedo as a ...  >>MORE

DP World plans US$430m Peru port investment

Posted on 26/07/2006

Lima - DP World plans to invest US$430 million in Peru's first modern container port and related infrastructure as the company expands its presence in South America. It signed a 30-year concession agreement on Monday with the Peruvian government to build and operate the 1.3-million TEU (twenty-foot equivalent unit) annual capacity terminal adjacent to the port of Callao outside the capital Lima. The first phase development will cost US$256 million, while US$217 million will be spent on the ...  >>MORE

Dubai Cargo Village traffic growing 15% a year

Posted on 26/07/2006

Dubai Cargo Village (DCV) has seen cargo throughput grow at an average 15 per cent annually and that figure is set to cross the 2 million tonnes a year mark by 2010. DCV celebrates its 15th birthday yesterday. During that time it has been transformed into one of the best cargo centres in the world. When it was opened in 1991 Dubai Cargo Village was ranked 61 internationally, but today finds itself in the world's top 20. Cargo throughput at the facility has always been almost to capacity ...  >>MORE

The "Munster" arrives in Sharjahc

Posted on 25/07/2006

Once again Sharjah Container Terminal received its 500th vessel arrival a month earlier than in the previous years. This is the fourth annual improvement in succession emphasizing how busy Mina Khalid's container terminal has become. The MV "Munster" is operated by "Maersk Line" as their lower Gulf feeder. This 910 TEU vessel calls at Sharjah regular as clockwork every Saturday morning ensuring the Sharjah consignees and shippers get a first class service. Gulftainer's new operations manager - ...  >>MORE

DP World set to boost Vancouver terminal capacity

Posted on 25/07/2006

Dubai Ports World (DP World), the world's third largest terminal operator, will invest in expanding the Centerm Container Terminal in Vancouver harbour, the company said in a statement. Sultan Ahmad Bin Sulayem, chairman of Dubai World, yesterday held talks with senior Canadian government officials including David Emerson, the Minister of International Trade and the Pacific Gateway, and John Van Dongen, Minister of State for Inter-Governmental Relations on the expansion. "When the expansion ...  >>MORE

Largest Ship at Khorfakkan

Posted on 23/07/2006

The recently completed 400 meter quay at Khorfakkan saw the arrival of the largest container vessel to ever visit the port. The new 9,415 TEU "CMA-CGM FIDELIO" moved smoothly alongside and work commenced immediately on the 7,800 plus container exchange discharging and loading cargo for the U.A.E., the Upper Gulf and Indian Ocean ports. The FAL service vessel with an overall length of 349 metres and a GRT of 109,000 tonnes has a service speed of 25 knots. The container terminal at Khorfakkan ...  >>MORE

DP World's US asset sale begins

Posted on 18/07/2006

Potential buyers have been given financial information on DP World's port assets in the United States and the sale process is expected to be completed by the September deadline, a source told Gulf News on Monday. Dozens of buyers are in the race to acquire assets at six US ports. "Sale books have gone out to interested buyers. They will evaluate the books before making their offers," the source said. DP World acquired container terminal operations at New York, New Jersey, Philadelphia, ...  >>MORE

Esnaad places order for two vessels, to take delivery of another two

Posted on 26/06/2006

Abu Dhabi National Oil Company subsidiary Esnaad is set to take delivery of two new vessels, constructed in Singapore at a total cost of 22 million US Dollars. The company has also placed an order for a another two, to be built in Singapore, boosting its fleet of container vessels to 27. The company said in a statement released today that it will receive the first vessels next month in Singapore and the other will one will arrive in September. Esnaad General Manager Darwish Abdullah Al ...  >>MORE

DP World will invest US$210m in Peru terminal

Posted on 21/06/2006

DP World said yesterday it will invest US$210 million in a new terminal facility in Peru, the company's third venture this month involving development of new container ports. It will develop and operate a 1.35-million TEU (20-foot equivalent unit) container terminal in the southern zone of the Port of Callao in Peru under a 30-year concession. The concession was awarded by the South American nation's Agency for Investment Promotion (Proinversion) and the National Port Authority. DP World ...  >>MORE

DP World will build container terminal in China

Posted on 14/06/2006

DP World, the world's third largest port operator, yesterday deepened its involvement in China with a new venture that will build a container terminal at Tianjin at a cost of $500 million (Dh1.83 billion). The Dubai-based company already operates container berths at six ports in China with a combined throughput of about 11 million TEUs (20-foot equivalent units). It has a 50 per cent stake in the new project to be developed by DP World Tianjin Holdings Limited, a joint venture between DP ...  >>MORE

100 companies eyeing DP World's US assets

Posted on 10/06/2006

Some 100 companies have expressed an interest in buying facilities at major US ports from DP World, a source close to the sales process told Reuters in the United States. DP World chairman Sultan Ahmad Bin Sulayem, who is also Executive Chairman of the Ports, Customs and Free Zone Corp, told Gulf News yesterday the company is currently evaluating the bids. "We are going through the process of evaluation. It is a very detailed process," Bin Sulayem said, without disclosing who the potential ...  >>MORE

Port operator will continue to use P&O's brand name

Posted on 10/06/2006

Ho Chi Minh City - DP World, which became the world's third largest port operator earlier this year after acquiring 165-year British group P&O, has integrated the company's business to its own but it will continue to use P&O's brand name, Dubai officials told Gulf News in this Vietnamese city. "P&O is a very important name. We bought the company, we bought the ports, but the trade name is important. We should not lose it," said DP World chairman Sultan Ahmad Bin Sulayem, who was in Vietnam ...  >>MORE

Khor Fakkan celebrates new expansion

Posted on 08/06/2006

Khor Fakkan Container terminal recently held a ceremony at its busy facility announcing the opening of its new expansion. Present at the occasion was His Highness Dr. Sheikh Sultan Bin Mohammed Al-Qasimi, Supreme Council Member and Ruler of Sharjah. The occasion was highlighted with the arrival of the CMA CGM 'Mercure'. The vessel docked at the new berth extension of Khor Fakkan Port , a container terminal run by Gulftainer Company Ltd, one of the UAE's oldest container terminal management ...  >>MORE

DP World expands into Vietnam

Posted on 08/06/2006

Dubai Ports World has formally entered Vietnam with a Dh844.1 million ($230 million) investment package to develop Saigon Premier Container Terminal, the company said in a statement. The project is an 80:20 venture between DP World-owned P&O Ports and Vietnam's state-owned Tan Thuan Industrial Promotion Co.The terminal, on the western shore of the Soa Rap River, will handle 1.5 million 20-foot-equivalent units a year. The construction officially began yesterday and the ground-breaking ...  >>MORE

DP World plans IPO for global investors

Posted on 16/05/2006

Dubai Ports World, the ports operator that bought Peninsular & Oriental Steam Navigation Company (P&O) for US$6.8 billion (Dh24.9bn), said it will sell shares to international investors in an initial public offering (IPO). "We are planning to sell shares, and it won't necessarily happen in just one or two shots,” Yuvraj Narayan, senior vice president for corporate strategy at DP World, said in an interview yesterday. "I expect a lot of international investor interest as we're the only ...  >>MORE

DP World vows to re-enter US

Posted on 13/05/2006

DP World, the third largest port operator, said it will continue to focus on opportunities in the US markets following the enactment of new investment legislation, despite the recent setback. "We, like other foreign investors, are awaiting the new legislation on foreign investment in the US, and continue to pursue investment in the country," Mohammad Sharaf, its chief executive, told Gulf News yesterday. "Once the new law clears obstacles, we will renew our focus on the US market, like any ...  >>MORE

Abu Dhabi gets new port and industrial zone

Posted on 07/05/2006

Abu Dhabi has announced that Dubai Ports World (DP World) will manage a new operating company created to develop the Dh8 billion plus Khalifa Port at Al Taweelah. The operations of Mina Zayed will also shift to the new Khalifa Port within five years. "Abu Dhabi Ports has created a subsidiary to manage port operations called Abu Dhabi Terminals. It will be managed by DP World," said Ahmad Saeed Al Calily, Managing Director of the Abu Dhabi Ports Company. "Our objective is to act as an enabler ...  >>MORE

DPA to modernise Al Hamriyah Port

Posted on 03/05/2006

Dubai Ports Authority (DPA) will undertake major expansion and modernisation of Al Hamriyah Port in Dubai in line with its strategy to ensure continual development of all ports under its management in the UAE in order to meet the rapid growth in domestic and regional trade. The project will lead to increased storage and general cargo capacity at Al Hamriyah Port. The expansion involves three quays at the port, including augmentation of the commercial quay by 2.5 km in two phases. Major ...  >>MORE

RAK to set up Dh30m port in Al Jeer

Posted on 01/05/2006

Sheikh Saud bin Saqr Al Qasimi, Ras Al Khaimah Crown Prince and Deputy Ruler, approved yesterday the construction of a new port in Al Jeer, north of the emirate at a total cost of Dh30 million. Al Jeer Port will become the fourth port in Ras Al Khaimah after Saqr Port, Al Jazera Al Hamra Port and RAK Port. Mohammad Al Mehrizi, Director General of the Customs and Ports Department, said the new Al Jeer Port will have a 270 metre quay. He added that the port will be dredged to six metres. ...  >>MORE

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Quick List

Sharjah ports handled 2.15m TEUs last year


Esnaad orders five new vessels worth US$60m


DP World to increase global container handling capacity


DMC begins infrastructure work


UAE and Pakistan sign custom agreement


DP World closes in on sale of US ports


Gulftainer signs agreement with government of Comoros Islands


DP World opens new terminal


Dubai Ports World gets Lloyds List certificate


Dubai Maritime City's site reclamation complete


DP World set to shortlist buyers for its ports in US


DP World to draw up shortlist for US ports sale this week


Bechtel wins Khalifa Port contract from ADPC


UASC transfers to DP World-operated Pusan Newport


DP World in running for a Larnaca port upgrade


DP World profit falls after acquisition of CSX Corp


Giant containers use Sharjah Container Terminal


DP World to build terminal in Pakistan


DP World to receive bids for American ports sale


DP World profit falls to Dh880.31m as cost rises sharply


Ras al-Khaimah Port undergoing Dh110m revamp


DP World in talks to buy ports in Americas


DP World to expand Caribbean port


DP World plans US$430m Peru port investment


Dubai Cargo Village traffic growing 15% a year


The "Munster" arrives in Sharjahc


DP World set to boost Vancouver terminal capacity


Largest Ship at Khorfakkan


DP World's US asset sale begins


Esnaad places order for two vessels, to take delivery of another two


DP World will invest US$210m in Peru terminal


DP World will build container terminal in China


100 companies eyeing DP World's US assets


Port operator will continue to use P&O's brand name


Khor Fakkan celebrates new expansion


DP World expands into Vietnam


DP World plans IPO for global investors


DP World vows to re-enter US


Abu Dhabi gets new port and industrial zone


DPA to modernise Al Hamriyah Port


RAK to set up Dh30m port in Al Jeer