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INFRASTRUCTURAL DEVELOPMENT - SEAPORTS & SHIPPING

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

Sharjah improves port facilities

Posted on 25/04/2006

Port facilities in Sharjah have been expanded and modernised with an investment of Dh700 million, the head of the Sharjah Ports Authority said. New facilities at Khor Fakkan Container Terminal (KCT) have been added to increase its container handling capacity to three million TEUs (twenty-foot equivalent units) a year. Under a Dh500-million project, KCT's container storage capacity has risen from the current 23,000 units to 35,000. The terminal's surface area has grown by 50 per cent. The ...  >>MORE

DP World to build new terminal at Port of Djibouti

Posted on 16/04/2006

Global terminal operator DP World yesterday announced plans to develop a new container terminal facility in Doraleh at the Port of Djibouti. The 300 million US Dollar investment will enable DP World to handle an additional 1.5 million TEU annually. This investment is the latest of a number of large scale development projects undertaken by DP World which will further strengthen the company's global network of port operations. The company is already engaged in the development of several ...  >>MORE

Container berth at Khorfakkan ready

Posted on 16/04/2006

The eagerly awaited new container berth at Khorfakkan Container Terminal (KCT) in the northern region of the UAE, which is in its final stage, is ready for business, with 400 metre quay wall and 16 metre alongside draft complete. The four new latest state-of-the-art ship-to-shore Super Post Panamax gantry cranes have been installed and are operational, according to a report on Saturday by the Dubai- based Khaleej Times quoting port officials. The supporting yard equipment has already ...  >>MORE

Dubai becoming major destination for cruise lines

Posted on 08/04/2006

The emergence of Dubai as a top holiday destination is certain to attract the attention of the cruise lines, an industry specialist said. Dubai's weather and tourism infrastructure can provide a new destination for the industry that lacks a viable turnaround port when winter strikes the Mediterranean, Alaska, North Europe and the Baltic. The Caribbean is the only region that continues to receive cruise tourists when other hubs feel the chill. "The challenge for the industry is where they can ...  >>MORE

DP World to build Dh1.1b Djibouti container facility

Posted on 03/04/2006

Djibouti - DP World will build a new container terminal in Doraleh in Djibouti at a cost of Dh1.1 billion (US$300 million). Work will start on the container port, located 11 kilometres from the present one, in June, DP World officials told Gulf News. With a capacity to handle 1.5 million TEUs (20-foot equivalent units) annually, the terminal will be DP World's second major investment in Djibouti, which sits at the mouth of the Red Sea. The Dubai port operator has invested US$35 million in a ...  >>MORE

UAE Italy sign toll deal

Posted on 26/03/2006

The UAE and Italy signed in Rome an agreement on the tolls of harbours and ports. The agreement aims to boost relations and developing trade and transport between the two countries. The UAE side was represented by Minister of Development of Governmental Sector Sultan bin Saeed Al Mansoori, while the Italian side was represented by Deputy Minister of Infrastructure and Transport Mario Tassuni. The ceremony was attended by UAE Ambassador to Italy Abdulhameed Abdulfattah Kazim, Commander of the ...  >>MORE

UAE, Italy to sign ship berthing fees agreement

Posted on 22/03/2006

Minister for Government Sector Development, Sultan bin Saeed Al Mansouri, left Abu Dhabi yesterday for Italy on an official visit during which he will sign bilateral agreement on reciprocal treatment in the area of payment of berthing fees payable by commercial ships. In a pre-departure statement, Al Mansouri said the signing of the agreement reflects the strong desire of the two countries to further strengthen the existing relations of friendship between them and to further improve ...  >>MORE

DP World's US port sale within six months

Posted on 18/03/2006

DP World and P&O Ports North America said yesterday that the upcoming sale of its business to an unrelated US buyer should happen in four to six months. Although the Dubai-based company purchased P&O including six US ports in a deal that was vetted by the US government, public outcry and bipartisan opposition in congress forced DP World to promise a sell-off of its holdings there. "The sale process will be supervised by executives from P&O's group head office in London. The New York office ...  >>MORE

Horizon Djibouti terminal to expand capacity by 50 percents

Posted on 14/03/2006

ENOC affiliate, Horizon Djibouti Terminals Ltd (HDTLS) has signed a $21.3 million term facility with Emirates Bank International (EBI) to expand its Djibouti Terminal The second-phase expansion of the Djibouti terminal will see HDTLS's capacity expanded by 131,500 cubic meters (cbm) to 371,150 cbm. On completion, HDTLS's current capacity of 239,650 cbm will go up by more than 50% for storage of petroleum, chemicals, LPG and other liquid products. (Emirates News Agency, WAM) ...  >>MORE

Resolutions to form ports, airports board issued

Posted on 13/03/2006

Two resolutions to form the Boards of Directors for the Abu Dhabi Sea Ports and the Abu Dhabi Airports Company have been issued. General Sheikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, yesterday issued the two resolutions. Resolution No. 7 of 2006 stipulated that the board of Abu Dhabi Airports Company be formed with Khalifa Mohammad Al Mazroui, as chairman, and the membership of ...  >>MORE

UAE-US FTA negotiations delayed

Posted on 11/03/2006

Washington D.C - Reem Al Hashimy, UAE Commercial Attaché at the UAE Embassy here announced that the UAE and the U.S. "have agreed on a short delay for the meeting scheduled March 13, as we need additional time to prepare for the next round of negotiations." "This decision is totally unrelated to the issue of Dubai Ports World. Working groups from the United Arab Emirates and the United States will continue to negotiate during this delay period and prepare for the next round via video ...  >>MORE

DP World makes formal application for review of deal

Posted on 05/03/2006

Washington: The US Treasury Department has received an application from DP World to start a second review of the company's purchase of Britain's P&O for $6.85 billion. Among P&O's assets are contracts for managing six US ports, including New York and New Jersey. The agency said it would soon make a determination of when to begin the 45-day review, prompted by lawmakers' concerns about security if DP World acquires P&O's US assets. The deeper review of the deal promised by the Bush ...  >>MORE

UK court approves DP World’s P&O deal

Posted on 04/03/2006

A London High Court judge ruled yesterday that Dubai Port World's US$6.85 billion proposed takeover of P&O can go ahead, despite strong objections from one of the British firm's partners in the United States. Justice Nicholas Warren sanctioned a so-called scheme of arrangement allowing the deal to proceed, rejecting submissions from US ports operator Eller & Co and two private P&O shareholders who oppose the takeover for different reasons. "The objections of Eller do not persuade me that I ...  >>MORE

DP World achieves 19% growth in container throughput in 2005

Posted on 28/02/2006

DP World's UAE operations handled 7.62 million TEUs (twenty-foot equivalent container units) in 2005, a 19 per cent increase over 2004. DP World ranks as the world's seventh largest container terminal operator by throughput. Its flagship facilities at Port Rashid and Jebel Ali in Dubai combined rank ninth. "The past 12 months have been marked by extraordinary excitement, expansion and change for DP World and that looks set to continue," said Mohammad Sharaf, chief executive officer of DP ...  >>MORE

DP World close to winning Pakistani port contract

Posted on 27/02/2006

Islamabad - Pakistan's Prime Minister Shaukat Aziz yesterday approved a proposal to start negotiations with Dubai Ports World (DP World) as potential operator of Gwdar Port in the Pakistani province of Baluchistan. Presiding over a high-level meeting in Islamabad, Aziz was informed that the Gwadar Port will be ready for operation by mid 2006, Pakistan Radio said today. "Gwadar Port will be functional by the middle of this year after completion of additional dredging of the channel to ...  >>MORE

DP World highlights security record at opening of Djibouti terminal

Posted on 27/02/2006

DP World yesterday trumpeted its security credentials at the opening of an oil terminal facility in Djibouti, where a US Navy vessel was its guest. The company, which will take over management of container terminal facilities at six US ports under its $6.8 billion purchase of British port operator Peninsular and Oriental Steam Navigation Company (P&O), said it will segregate its US assets. It has been a target of strident opposition from US lawmakers, who say the acquisition will compromise US ...  >>MORE

Dubai Maritime City's new breakwaters to be finished soon

Posted on 26/02/2006

Dubai Maritime City's breakwaters project which commenced late April 2003, is now 90 percent complete well in schedule for the final deadline of April 2006. Dubai Maritime City, a planned 216-hectare manmade peninsula between Port Rashid and the Dubai Dry Docks in the waters of the Arabian Gulf, will be a maritime centre providing a unique world-class environment for the global maritime community, has reported the significant progress in the construction of its new project which aims to ...  >>MORE

DP World agrees to delay takeover of six US ports

Posted on 25/02/2006

DP World has agreed to postpone its plans to take over the management of six US ports after the proposed deal ignited harsh criticism from US senators. DP World said it would not take control until lawmakers had time to study the deal. As a result DP World intends that the acquisition of P&O will "proceed as planned" but the company will "segregate P&O's US operations while it engages in further consultations with the Bush Administration," the company said in a statement, a copy of which ...  >>MORE

P&O deal is hijacked by US politicians

Posted on 24/02/2006

The Dubai Ports World's acquisition deal of the British Peninsular and Oriental Steam Navigation Company is hijacked by US Politicians eyeing mid-term elections,' the UAE press said yesterday, adding that American politicians should realise that their country should be ready to face the reality of globalisation. The papers warned that political interference to block the deal would hit investor confidence in the US. American companies, which should step in to lobby with Congressmen that it ...  >>MORE

Bush backs sale of port operations to DP World

Posted on 18/02/2006

Washington: The Bush administration on Thursday rebuffed criticism about potential security risks of the US$6.8 billion (about Dh25 billion) sale of P&O that gives Dubai Ports World control over significant operations at six major US ports. Four senators and three House members had asked the administration to reconsider its approval of the deal. The sale to DP World was "rigorously reviewed" by a US committee that considers security threats when foreign companies seek to buy or invest in ...  >>MORE

Khorfakkan port gains from rising trade between Asia and Europe

Posted on 18/02/2006

Rising trade between Asia and Europe is helping the port of Khorfakkan position itself as a regional transshipment hub able to handle giant container ships. Yesterday the port received French shipping company CMA CGM's new Opera class ship Tosca. With a length of 334 metres and width of 42.8 metres, the vessel can carry 8,500 TEUs (twenty-foot equivalent containers). The Tosca can carry 700 refrigerated containers, equivalent to several warehouses. The ship's 64-day journey began in Malta ...  >>MORE

Dubai wins P&O for US$6.9b

Posted on 12/02/2006

For the second time in less than 15 months, Dubai Ports World (DPW), outbid Singapore's PSA International for port assets. Yesterday, Dubai won a three-month contest for Peninsular & Oriental Steam Navigation Company (P&O), the UK's largest port operator, after Singapore withdrew. DPW's revised offer, which values P&O at £3.92 billion (5.7 billion euros, US$6.9 billion), was enough to see off the bid from PSA, which is owned by state-linked Singapore investment firm Temasek Holdings. ...  >>MORE

RAK Customs inks Dh.15m deal with Chinese company

Posted on 11/02/2006

The Ras Al Khaimah Customs and Ports Department signed yesterday an Dh.15 million deal with a Chinese firm for the purchase of two hi-tech container scanning machines. Sheikh Ahmed bin Saqr Al Qasimi, Chairman of RAK Customs and Ports Department, signed the agreement with Li Zhijun, Vice-President of Nuctech Company Limited, for the purchase of the advanced container scanning system which can inspect cargo containers without opening them. Mohammad Al Mehrizi, Director-General of the ...  >>MORE

Khorfakkan port plans new phase of expansion

Posted on 31/01/2006

The port of Khorfakkan will launch a new phase of expansion to boost its capacity of handling modern large cargo vessels, according to the company that manages the facility. As part of the multi-million dirham first-phase expansion plan, launched over a year ago and due for completion in the coming weeks, four new super post-Panamax gantry cranes have been installed at Khorfakkan Container Terminal. The quay length at Khorfakkan has been increased by 400 metres to 1,500 metres, and the new ...  >>MORE

P&O accepts new Dubai bid

Posted on 27/01/2006

Peninsular and Oriental Steam Navigation Co (P&O) on Thursday accepted Dubai Ports World's £3.88 billion (US$6.9 billion) new offer, trouncing the £3.54 billion (US$6.3 billion) bid from Singapore's PSA International. Dubai had earlier offered £3.32 billion (US$5.9 billion) for the UK port operator. P&O board, which earlier yesterday agreed to be acquired by Singapore, said it would not consider any further bid below 545 pence per share. "DP World and P&O have agreed the terms of an ...  >>MORE

DP World - container terminal opened in South Korea

Posted on 20/01/2006

Pusan - President of the republic of Korea Roh Moo-Hyun, yesterday officially opened the new state-of-the-art Pusan Newport Co. (PNC) terminal in a special ceremony at the quayside, marking the completion of the first phase of a development that will propel the South Korea Port to being amongst the largest in the world in terms of capacity. DP World will manage and operate the port for 50 years starting from the date of operation. The port is located at the boundary of the west side of ...  >>MORE

RAK port to scan containers without opening them

Posted on 20/01/2006

The Ras Al Khaimah Customs and Ports Department will install two advanced machines to inspect cargo containers without opening them. Sheikh Saud Bin Saqr Al Qasimi, Ras Al Khaimah Crown Prince and Deputy Ruler, yesterday approved the Dh15 million contract between the department and a Chinese company. Mohammad Al Mehrizi, Director-General of the department, said one of the machines will be installed at the port and the other will be portable. He said the machine at the port will be able ...  >>MORE

Giant container ship docks at Khor Fakkan

Posted on 17/01/2006

Khor Fakkan Container Terminal in the emirate of Sharjah was the first port of call for the Othello, a giant new container ship en route from France. French container shipping company CMA CGM's new Opera class ships will operate on its "FAL" service between Europe and the Far East. The Othello has a capacity of 8,500 twenty-foot equivalent units. With 100,000 deadweight tonnes and a length of 335 metres, it is one of the largest container ships afloat. Opera class ships are huge vessels ...  >>MORE

Jadaf Dubai records seven per cent growth in 2005

Posted on 16/01/2006

The growing demand for ship lifting services coupled with the international expertise it offers, has helped Jadaf Dubai notch a higher performance during 2005, securing its position as the world's leading dock for ship lifting operations. The yard's two docks repaired and carried out maintenance of a total of 2,347 ships during the year, recording a seven per cent increase in business with 166 more ships being docked, undocked and redocked as compared to the 2,181 vessels it catered to during ...  >>MORE

Abu Dhabi to build new port and industrial zone at Taweelah

Posted on 15/01/2006

In keeping with the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and General Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Crown Prince, Deputy Supreme Commander of the UAE Armed Forces and Chairman of Abu Dhabi Executive Council, the government of the Emirate of Abu Dhabi unveiled today plans to develop a new port and industrial area at Taweelah, situated on the coastline halfway between the cities of Abu Dhabi and Dubai. In a statement made on the occasion, ...  >>MORE

Biggest Sukuk raises US$3.5b for Dubai Ports

Posted on 14/01/2006

Dubai's Ports, Customs and Free Zone Corporation raised US$3.5 billion or about 25 per cent more than planned through the biggest Islamic bond in history, the lead managers said yesterday. The two-year bond's issuer PCFC, a holding company of DP World, which faces the prospect of a multi-billion dollar bidding war over British ports firm P&O. Dubai Islamic Bank, co-lead manager with Barclays Capital, said last month that demand was so strong the bond, known as a Sukuk, was likely to be at ...  >>MORE

Dubai Drydocks wins drilling rig bid

Posted on 14/12/2005

Dubai Drydocks, the Gulf's largest maritime services facility, yesterday said it has secured orders to construct two hulls for semi-submersible drilling rigs. No value of the contract has been released, which the Dubai government owned shipyard called the single largest contract in its history. Delivery of the first hull is scheduled for June 2007 and the second will be delivered eight months later. The hulls, measuring 120 metres by 77 metres with a 37.5 metre height and weighing 16,300 ...  >>MORE

Jebel Ali Port expansion to spur transshipment 20%

Posted on 13/12/2005

The completion of Jebel Ali Port's first expansion stage, scheduled for the first quarter of 2007, will result in a 20 per cent increase in transshipment handling and a 16 per cent rise in imports and exports, according to Jamal Majid Bin Thaniah, vice-chairman of DP World, the world's third largest port operator. Opening the Middle East Money & Ships conference on Monday, Bin Thaniah said: "The massive expansion activities that are currently underway at Jebel Ali port are a reflection of ...  >>MORE

Dubai Ports to take over P&O group

Posted on 30/11/2005

DP World, Dubai's international port operations arm, outbid and outpaced closest rivals to take over Britain's P&O ports and ferries group in an all-cash US$5.69 billion (about Dh20.9 billion) deal on Tuesday. This deal comes less than a year from Dubai Ports's previous major US$1.15 billion (about Dh4.22 billion) acquisition of the global port assets of US-based CSX Corporation. The move has awed the shipping world and zips DP World up from its seventh ranking making it the world's third ...  >>MORE

DP World close to buying P&O for US$5.2 billion

Posted on 27/11/2005

London — Dubai Ports World was close to agreeing to an offer to buy British ports and ferries company P&O for more than £3 billion (US$5.2 billion), a source familiar with the situation said yesterday. The source added a deal could be announced early next week. While an exact price for P&O remained unclear, UK newspapers said Dubai Ports World was offering anywhere between 420 pence and 440p per P&O share. The Financial Times said Dubai Ports World was understood to have offered around 430p ...  >>MORE

Dubai Maritime City set to be new international maritime landmark

Posted on 24/11/2005

The construction of the Dubai Maritime City island, the world's most comprehensive maritime complex, is now well underway. This was announced yesterday at a presentation conducted by Helen Sell, Marketing Manager of Dubai Maritime City on behalf of Amer Ali, Project Manager of Dubai Maritime City to international journalists at the Dubai International Boat Show held from November 20-22. She further explained that construction is divided into phases of development which are also sub-divided ...  >>MORE

DP World to develop new container terminal in Qingdao, China

Posted on 15/11/2005

DP World, one of the world's leading port operators, has signed an agreement with the Qingdao Government to develop a green field site in Qingdao, which the port operator will develop into a new container terminal. The terminal, 100 per cent owned by DP World, will consist of a quay measuring 1,320 metres in length across four deep draft berths and will have a capacity in excess of 2 million TEU. DP World, through its subsidiary, DP World China Qingdao Limited, has agreed to develop a new ...  >>MORE

Al Hamriyah Port records 313% growth in activity

Posted on 13/11/2005

Early indicators that the UAE's foreign trade is increasing significantly has come from Al Hamriyah Port Customs Centre which has seen rapid growth in operations. The number of BoE (Bills of Entry) issued for import and export have increased by 313 per cent. The number of BoE issued during the first nine months of the year was 91,899, compared to 22,265 in the same period last year. Al Hamriyah Customs carries out import, export, re-export, transshipment, transit, temporary admission and ...  >>MORE

Gulf Energy Maritime takes delivery of final tanker

Posted on 08/11/2005

Gulf Energy Maritime (GEM) today took delivery of the final tanker of its four vessel order from Hyundai Heavy Industries (HHI). Gulf Coast has been completed approximately three months ahead of schedule. The new high-specification panamax double-hulled tanker will immediately go into service with Glencore (Charterers) on a three-year deal, according to a press release. Built by HHI, the Korean shipbuilder, the latest addition to Dubai-based GEM's fleet has taken the company's total number ...  >>MORE

DP World to build Turk port

Posted on 05/11/2005

DP World announced the acquisition of a green field coastal site at Yarimca, Turkey, which the company will develop into a new container terminal facility. he completed 48-hectare site, on the Sea of Marmara, will enable DP World to build and operate a 1 million plus TEU terminal with a planned quay length in excess of 1,200 metres. DP World, one of the world's leading port operators, has agreed to acquire the existing site from Turkish steel producer Erdemir for a net cash consideration ...  >>MORE

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Quick List

RAK to set up Dh30m port in Al Jeer


Sharjah improves port facilities


DP World to build new terminal at Port of Djibouti


Container berth at Khorfakkan ready


Dubai becoming major destination for cruise lines


DP World to build Dh1.1b Djibouti container facility


UAE Italy sign toll deal


UAE, Italy to sign ship berthing fees agreement


DP World's US port sale within six months


Horizon Djibouti terminal to expand capacity by 50 percents


Resolutions to form ports, airports board issued


UAE-US FTA negotiations delayed


DP World makes formal application for review of deal


UK court approves DP World’s P&O deal


DP World achieves 19% growth in container throughput in 2005


DP World close to winning Pakistani port contract


DP World highlights security record at opening of Djibouti terminal


Dubai Maritime City's new breakwaters to be finished soon


DP World agrees to delay takeover of six US ports


P&O deal is hijacked by US politicians


Bush backs sale of port operations to DP World


Khorfakkan port gains from rising trade between Asia and Europe


Dubai wins P&O for US$6.9b


RAK Customs inks Dh.15m deal with Chinese company


Khorfakkan port plans new phase of expansion


P&O accepts new Dubai bid


DP World - container terminal opened in South Korea


RAK port to scan containers without opening them


Giant container ship docks at Khor Fakkan


Jadaf Dubai records seven per cent growth in 2005


Abu Dhabi to build new port and industrial zone at Taweelah


Biggest Sukuk raises US$3.5b for Dubai Ports


Dubai Drydocks wins drilling rig bid


Jebel Ali Port expansion to spur transshipment 20%


Dubai Ports to take over P&O group


DP World close to buying P&O for US$5.2 billion


Dubai Maritime City set to be new international maritime landmark


DP World to develop new container terminal in Qingdao, China


Al Hamriyah Port records 313% growth in activity


Gulf Energy Maritime takes delivery of final tanker


DP World to build Turk port