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DP WORLD Invests Over $1 Billion in Global Trade in 2017

Chennai:

Port Wings News Network:

Growing global trade opportunities, diversifying its business across the supply chain and exploring smart innovation technologies were key strands of DP World’s operations in 2017 which included over USD 1 billion in capital expenditure year to date.

A series of acquisitions, technology tie-ups and sustainable business achievements all formed part of the activities that saw the global trade enabler expand its business horizons across the world.

The expansion at Prince Rupert in Canada opened for business, DP World Limassol in Cyprus opened a new cruise terminal, work began on a new logistics centre in Kigali (Rwanda) and at a new terminal project in Posorja (Ecuador). Also in the Americas DP World took 100% ownership of Embraport in Brazil. In Asia Pacific we have seen the consolidation of Pusan (South Korea), while in Africa we started officially operating DP World Berbera port (Somaliland) under a 30-year concession.

DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem, said: “The recovery of global trade in 2017 has been stronger than expected and we are pleased to have outperformed market growth once again. We are on course to deliver approximately 10.0% growth in gross volumes for 2017, and look forward to continued growth in 2018.”

“Notable landmarks included strengthening our partnerships in Brazil, Ecuador, Kazakhstan, Cyprus, Somaliland, India, Egypt and Mali with a range of infrastructure investments to enable global trade and connect countries to international markets. This was coupled with a series of acquisitions such as the inclusion of Dubai Maritime City and Drydocks World to the Group’s operations, expanding our service offering to customers. We have also stepped up container handling productivity at our flagship Jebel Ali Port, by adding 1.5 million TEU to Container Terminal 3 (T3).

“Our activities aimed at providing added value to our customers at further points in the global supply chain by growing our logistics, industrial parks and freezone operations and smart digital trade solutions. We have also ensured our sustainable business practices have progressed, joining the United Nations Logistics Emergency Teams (LET) partnership to support humanitarian disaster relief; supporting the development of Hyperloop technologies that could revolutionise the movement of goods across continents and winning the coveted Dubai Quality Award, evidence of our ongoing commitment to excellence in everything we do.”

Mr. Bin Sulayem added: “All of this happened to a backdrop of continued revenue growth, proof that we have a robust portfolio of businesses and a successful strategy to ensure the sustainable growth of our company.”

As 2017 unfolded, some of DP World’s headlines included:

January:

DP World will provide pro bono expertise and resources to help the humanitarian community respond to major disasters after joining leading logistics and transport companies to become part of the Logistics Emergency Teams (LET).  The global trade enabler will team up with the initial LET partners Agility, Maersk and UPS, and will be called on by the Logistics Cluster, led by the United Nations’ World Food Programme to support immediate relief efforts in the aftermath of major natural disasters such as earthquakes, storms and floods.

February:

DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem and Tesla and SpaceX CEO Elon Musk discussed potential uses of Tesla technology for DP World’s global operations in a meeting at the World Government Summit in Dubai. Topics revolved around the use of Tesla battery solutions for renewable energy storage in the global trade enabler’s ports and terminals in the fast-growing markets of Africa, India and Latin America.

March:

Global container shipping consortium ‘THE Alliance’ has announced that all of its mainline UK calls will be handled by DP World, the Dubai-based global ports and logistics services company. The consortium of container shipping lines – which comprises Hapag Lloyd, K-Line, MOL, NYK Line and Yang Ming – will bring vessels on its FE1, FE2 and FE4 services into DP World Southampton and those on FE3 and FE5 into DP World London Gateway, all of which link Asia and Europe.

April:

The first ever UK to China export train departed on Monday, April 10, laden with containers full of British goods. The train made the 7,500 mile, three-week-long journey, departing from DP World London Gateway’s state-of-the-art rail terminal in South Essex, bound for Yiwu in the Zhe Jiang province in eastern China.

Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO.

May:

Global trade enabler DP World has won the Dubai Quality Award in recognition of sustained business excellence and best practice at an awards ceremony hosted by the Department of Economic Development (DED) at the Dubai World Trade Centre. The award employs a detailed framework requiring companies to benchmark performance against international standards, documenting their achievements as part of a model for organisational excellence.

Global trade enabler DP World and the National Investment and Infrastructure Fund (NIIF) have signed a Memorandum of Understanding (MoU) to develop the logistics sector in India. The agreement comes as a result of the visit to India in February 2016 of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the United Arab Emirates and Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO.

Global trade enabler DP World has celebrated its 30-year port concession for the management and development of a multi-purpose port project at Berbera, Republic of Somaliland which started on 2 March 2017.

June:

DP World fully owned subsidiary, P&O Maritime announces its acquisition of Reyser (Remolquesy Servicios Maritimos, S.L.) a Spanish company providing maritime services internationally since 1966, from Bergé y Cía, S.A.

Two Memorandums of Understanding (MoU’s) were signed between global trade enabler DP World and the Kazakhstan government for the development of a Port Community System (PCS) and to integrate customs processes ahead of the Astana Economic Forum.

July:

A new modern terminal to accommodate the largest operating cruise vessels opened at DP World Limassol port. The new terminal consists of seven pods with an internal area of 7,000 square meters. Along with 24-hour availability the terminal offers integrated services including Home Call and Day Call handling capability, ensuring an improved customer experience.

DP World’s Global Education Programme has won Gold for Best Evaluation at the UK’s Corporate Engagement Awards, recognising the global trade enabler’s measurement of the initiative to ensure maximum impact. Launched in 2016, the programme involves employees delivering lessons in local schools across its network around the world to boost the skills, aspirations and confidence of young people by teaching them about trade, logistics and the maritime sector and related career opportunities.

August:

The President of Ecuador Lenín Moreno and DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem performed a ground-breaking ceremony marked the start of construction of the greenfield multi-purpose port project at Posorja, Ecuador. The ceremony followed the 50-year concession the company won in 2016 from the Government of Ecuador to build a facility with 750,000 TEU (twenty-foot container equivalent) of capacity to fuel the country’s economic growth and connect it with international markets.

September:

DP World Limited announced that it has entered into agreements to acquire Maritime World LLC, the 100% owner of Dubai Maritime City (DMC), for a purchase consideration of US$ 180 million and to buy 100% of Drydocks World LLC (Drydocks) by means of a capital injection of US$ 225 million, taking the total cash required for the acquisitions of DMC and Drydocks to US$ 405 million.

International marina operator and developer IGY Marinas and P&O Marinas, a subsidiary of DP World, announced a new-build superyacht marina project in Sète, France with construction to start at the end of the year. Once open, it will offer 12 dedicated superyacht berths for the world’s largest vessels of up to 328 feet (100 metres) with a maximum draft of 23 feet (7 metres).

October:

Global trade enabler DP World has signed on as a founding partner of Area 2071, an innovative ecosystem initiative designed to shape the future of the UAE and position it as the best nation in the world, and central to achieving the UAE Centennial 2071 Plan.

DP World Limited handled 52.3 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first nine months of 2017, with gross container volumes growing by 10.0% year-on-year on a reported basis and 9.6% on a like-for-like  basis, with the third quarter growth rates accelerating to 13.5% year-on-year on a reported basis and 13.3% on a like-for-like  basis, ahead of second quarter growth and Drewry Maritime’s upgraded industry estimate  of 5.5% throughput growth in 2017.

November:

Global trade enabler DP World announced that it will develop a greenfield economic free zone in Somaliland to complement the development of the Port of Berbera, which has seen record container volumes under DP World management.

Admiral Mohab Mamish, Chairman of the Suez Canal Authority and Chairman of the Suez Canal Economic Zone (SCZone), and Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, signed a partnership agreement to develop an integrated industrial and residential zone at Sokhna in Egypt, in the presence of Sherif Ismail, the Prime Minister of Egypt.

The transformation of Dubai and the UAE is the result of vision, innovation and planning ahead for the long term said DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem at the Investment Corporation of Dubai (ICD) Global Investment Forum in Dubai.

DP World celebrated its 10-year public listing on Nasdaq Dubai. DP World was the first UAE-based listed company on Nasdaq Dubai.

December:

DP World acquired an additional 66.67% stake in Empresa Brasileira de Terminais Portuários (Embraport) in Brazil from Odebrecht Transport. The transaction increased DP World’s shareholding to 100%.

DP World has launched an internship programme for Emiratis studying abroad at the Annual UAE Student Forum in Washington DC.  The Emirati Abroad Programme offers UAE Nationals studying in countries where the company operates the opportunity to gain experience in diverse cultures and learn about global trade. The programme aligns with the UAE Centennial 2071 plan, which aims to make the UAE the best country in the world by 2071 and is based on four aspects: education, economy, government development and community cohesion. It focuses on education and the development of future generations by equipping them with the knowledge and skills to help them succeed in a fast-developing world.

DP World employees around the world have taken part in a week of volunteering activities, delivering over 60 projects in partnership with 47 organisations to benefit 5000 people. The company’s Global Volunteer Week programme gives employees the opportunity to take time out of work to support their local communities. This year they supported a variety of initiatives in 19 countries, which included delivering career workshops in the Dominican Republic, sorting food packages for Foodbanks in Australia, arranging blood donations across India in Mundra, Cochin, Chennai and Nhava Sheva, visiting the elderly in Yantai, China and organising free medical examinations in Senegal.

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