DP World

Ecuadorian President, DP World Group Chairman mark construction

POSORJA - Musimchronicle

The President of Ecuador, Lenin Moreno, and DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, today performed a ground-breaking ceremony to mark the start of construction of the greenfield multi-purpose port project at Posorja, Ecuador. The ceremony follows the 50-year concession the company won last year from the Government of Ecuador to build a facility with 750,000 TEU,Read more

DP World announces completion of Prince Rupert Fairview Container Terminal Phase

VANCOUVER - Musimchronicle

DP World has completed the Phase 2 North expansion project designed to increase container throughput at Prince Rupert's Fairview Container terminal. DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, and The Honourable Francois-Philippe Champagne, Minister of International Trade, Government of Canada, marked the occasion with a ribbon cutting ceremony in Prince Rupert today, in the presence of FirstRead more

DP World announces solid financial results

Dubai - Musimchronicle

Global trade enabler DP World today announced solid financial results for the six months to 30th June, 2017. On a reported basis, revenue grew 9.6 percent and adjusted EBITDA increased by 4.2 percent. Adjusted EBITDA margin was 53.4 percent, delivering profit attributable to owners of the company, before separately disclosed items, of US$606 million and EPS of 73.0 US cents.Read more

DP World optimistic on emerging markets, unconcerned by Trump

Dubai - Arab Today

DP World, an operator of ports from Algeria to Peru, is optimistic about growth in emerging markets, undeterred by US President Donald Trump's pursuit of protectionist trade policies. The Dubai-controlled company's chairman said he expects growth in Latin America, Asia and Africa. "We see some good times," Sultan Ahmed Bin Sulayem told reporters on a conference call on Monday. EmergingRead more

London Court of International Arbitration awards full victory to DP World

Dubai - Arab Today

A tribunal of distinguished arbitrators, acting under the rules of the London Court of International Arbitration, has exonerated DP World from all charges of misconduct in connection with the award of a 50-year concession to operate the Doraleh Container Terminal (DCT) in Djibouti. The international tribunal was composed of distinguished arbitrators Lord Leonard Hoffmann, Sir Richard Aikens and Peter LeaverRead more

UAE delegation visits Egypt soon for talks on ports coop.

Cairo - Arab Today

A technical delegation of the DP World is due to visit Egypt soon to discuss opportunities of cooperation in the filed of upgrading the infrastructure of Egypt's ports, said Trade and Industry Minister on Sunday. The visit falls within the framework of the government's approach toward applying electronic links and using machines in offering services across all customs outlets. TradeRead more

DP World opens advanced logistics centre in Peru

Dubai - WAM

DP World has recently opened the first smart logistics centre in Peru connected through optical fibers to Callao Port, to drive trade flow in the surrounding area in the west of South America. The Dubai-based company said this will help deliver full data to the port and customs, and will enable clients to control their goods using their smart devices.Read more

DP World partners with CDPQ to create US$ 3.7bn platform

Dubai - WAM

DP World announced the creation of an investment vehicle in partnership with Caisse de depot et placement du Quebec (CDPQ), one of North America’s largest pension fund managers. The investment platform totals US$ 3.7 billion, with DP World holding a 55 per cent share and CDPQ the remaining 45 per cent. The platform will invest in ports and terminals globallyRead more

Dubai delays Jebel Ali port expansion

Dubai - Arab Today

DP World, one of the world’s largest port operators, is delaying the expansion of Dubai’s Jebel Ali port, its main facility, because of softer market conditions, the company said on Thursday. A plan to add 1.5 million 20-foot equivalent units (TEU) of annual capacity to Terminal 3 at Jebel Ali will be delayed into 2017, while expansion of Terminal 4Read more

DP World announces new US$1.2b Sukuk

Dubai - Arab Today

DP World yesterday announced that the company has raised US$1.2bn in a new 7-year sukuk set to be listed on NASDAQ Dubai, the Middle East's international financial exchange. The issue received strong investor interest and was 2x oversubscribed receiving more than US$2bn in bids. The new sukuk issue followed DP World's successful refinancing of over US$1.1bn of the existing US$1.5bnRead more