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DP World News

November, 2019

DP WORLD TOUR CHAMPIONSHIP CELEBRATES YEAR OF TOLERANCE WITH INCLUSIVE ONE MONTH TO GO CEREMONIAL TEE SHOT


DP World aims to build a better future for everyone and it’s great to see, first-hand, children of all ages, backgrounds, genders and abilities playing a sport that means so much to our business.

Mohammed Al Muallem, CEO and Managing Director of DP World Dubai, United Arab Emirates, 21 Oct 2019

DP World officially marked the one-month countdown to the 11th edition of the season-ending DP World Tour
Championship, Dubai, and inaugural EDGA Dubai Finale at Jumeirah Golf, Estates, as Irish professional Brendan Lawlor hit a
ceremonial tee shot off the first tee of the iconic Earth course in the presence of His Excellency Sheikh Fahim Bin Sultan Al
Qasimi.

This year’s DP World Tour Championship will witness one of the most exclusive fields in world golf with only the top 50 players on the European Tour’s Race to Dubai Rankings eligible to compete in the prestigious event over the Earth course from November 21-24. The tournament will also boast the richest first prize in golf with the champion receiving a mouthwatering US$3 million.

To celebrate the UAE's Year of Tolerance, EDGA Dubai Finale star, Brendan Lawlor was invited to take the first ceremonial tee shot as His Excellency Sheikh Fahim Bin Sultan Al Qasimi, Chairman of the Emirates Golf Federation and Mohammed Al Muallem, CEO and Managing Director of DP World, watched on along with the UAE’s boys 13 and Under National Golf Team and children from the Dubai Heights Academy.

Lawlor is one of eight Golfers of Determination who will be taking part in the inaugural EDGA Dubai Finale, a 36-hole
tournament that will be played in conjunction with the DP World Tour Championship – a Rolex Series event – using the same course set-up as the European Tour’s elite players. As well as taking the first ceremonial tee shot, the 22 year old hosted an inclusive coaching clinic for the Students of Determination from Dubai Heights Academy and the UAE’s 13 and Under Boys National Team, who recently won the bronze medal at the Pan Arab Golf Championships in Egypt.

The introduction of the EDGA tournament marks the first time a Golfers of Determination competition has been hosted in conjunction with a European Tour event in the region, following the successful EDGA Scottish Open at the Renaissance Club, which Lawlor won, and builds on the Year of Tolerance and DP World’s commitment to driving an inclusive and tolerant culture across its business, sponsorship platform and the wider UAE community.

Mohammed Al Muallem, CEO and Managing Director of DP World, said: “DP World aims to build a better future for everyone and it’s great to see, first-hand, children of all ages, backgrounds, genders and abilities playing a sport that means so much to our business. Golf is much more than just a game, it’s a platform for us to inspire people through the DP World Tour Championship and our partnership with the Emirates Golf Federation to build a more inclusive society.”

Also on the first tee for the ceremonial event were Mustafa Al Hashimi, CEO of wasl hospitality and leisure and representatives for the prestigious event’s other key stakeholders along with members of the Dubai golfing community.

“It”s great to be out in Dubai to celebrate one month to go the DP World Tour Championship and EDGA Dubai Finale, “said Lawlor. “I had a lot of fun with the students from Dubai Heights Academy and the EGF at the golfing clinic this morning and it’s a real privilege to be a role model to the Students of Determination and show them anything is possible in life. It’s the first time I’ve seen the course and it really is going to be a special occasion when I return next month for the EDGA Dubai Finale.

Tom Phillips, Head of European Tour Middle East, said: “We are extremely proud to be celebrating the 11th edition of the DP World Tour Championship. Through the excellent partnership we have with DP World, we have been able to deliver a first-class tournament that has helped put Dubai at the forefront of the international sporting world as well as grow golf locally by attracting new fans and new players to the game.”

It’s great to have Brendan with us to celebrate our one month countdown and we look forward to welcoming him and seven other Golfers of Determination back here to Jumeirah Golf Estates for the inaugural EDGA Dubai Finale. Golf has always been an inclusive game and we are very proud that the European Tour is a driving force in opening up the sport to as many people as possible.

Over 65,000 spectators will attend the free-to-watch tournament at Jumeirah Golf Estates with a further 500million people tuning in across the globe to see the action unfold on television.


November, 2019

KIGALI LOGISTICS PLATFORM OPENS WITH THE POTENTIAL TO BENEFIT RWANDAN BUSINESSES WITH UP TO $50 MILLION IN LOGISTICS SAVINGS


We look forward to building on our strategic partnership with the Rwandan government to expand the logistics and trade sector, by empowering the Rwandan people to increase the attractiveness of the country as a key trade hub in Africa.
Sultan Ahmed Bin Sulayem

  • Facility inaugurated in presence of H.E. The President of the Republic of Rwanda Paul Kagame
  • Truck-turnaround time using Kigali Logistics Platform reduced from an average of 10-14 days to just 3 days
  • 667 direct and indirect jobs created with 98% local employment

Global trade enabler DP World inaugurated its Kigali Logistics Platform in the presence of President of the Republic of Rwanda, H.E. Paul Kagame and DP World Chairman and CEO, Sultan Ahmed Bin Sulayem.

The facility, which has been operational since September 2018 in test mode, has an annual capacity of 50,000 TEUs. When operating at full capacity, it has the potential to save Rwandan businesses up to $50 million a year in logistics costs.

Since the commencement of its operations in the Rwandan capital last year, Kigali Logistics Platform has reduced truck-turnaround time which used to be an average of 10-14 days to just 3 days.
Kigali Logistics Platform serves as a gateway to the heart of Africa, connecting Rwanda to neighbouring countries including Democratic Republic of Congo, Burundi, Uganda, Tanzania and Kenya. The facility will also access the port of Mombasa in Kenya and Dar Es Salaam in Tanzania, securing two trade gateways to the sea.
The railway from Mombasa port in Kenya will pass through Uganda to Rwanda and also the railway from Dar Es Salaam to Kigali is under construction and will have its final cargo rail siding located at Kigali Logistics Platform. Linking railways to the Kigali Logistics Platform has the potential to dramatically reduce logistics costs for exports and imports via international gateways on the coast. At present it costs three times more to transport a container from Kigali to Dar Es Salaam as it does to transport the same container from Dar Es Salaam to Shanghai.

Commenting on the inauguration, Sultan Ahmed Bin Sulayem, DP World Chairman and CEO, said: “We believe in the economic potential of Rwanda and the African Great Lakes region. DP World is proud to support Rwanda in its ambitions to establish itself as a key services and trade hub for the region, and to accelerate further economic growth by sharing our knowledge and expertise in innovation and technology. As we inaugurate Kigali Logistics Platform, we are delighted by the impact it has already had on businesses and the community. We look forward to building on our strategic partnership with the Rwandan government to expand the logistics and trade sector, by empowering the Rwandan people to increase the attractiveness of the country as a key trade hub in Africa.”

Kigali Logistics Platform has already contributed to socio-economic progress through the creation of 667 direct and indirect jobs, with 98% local employment. The Kigali terminal also contributes to the elevation of living standards in nearby villages through business development projects and internship opportunities for young adults from economically challenged families.
The facility utilises state-of-the-art technologies to ensure maximum security and transparency for its customers. It is the only cargo terminal in Rwanda monitored by 24-hour CCTV with customers able to access real-time tracking through mobile and online portals. Operational time is reduced via articulated forklifts and modern narrow aisle racking system (VNA) in warehouses – a first for Rwanda and only the second of its kind in Africa.
The $35 million project spans over 130,000m², including a 12,000m² container yard and a 19,600m² warehousing facility. DP World and the government of Rwanda are exploring the expansion of Kigali Logistics Platform to Phase 1.2 and Phase 2 to increase efficiency and provide more logistics solutions.

“The introduction of new logistics routes paired with smart warehousing systems will improve access of Rwandan businesses to global markets, boost economic development and drive new investments into the Rwandan economy. The Kigali Logistics platform will revolutionize the way trade is handled in Rwanda, which was only made possible through the cooperation and constant support of H.E. The President of the Republic of Rwanda Paul Kagame and the Rwandan government,” Bin Sulayem concluded.


September, 2019

DP WORLD ANNOUNCES STRONG FINANCIAL RESULTS


DP WORLD GROUP CHAIRMAN AND CEO, SULTAN AHMED BIN SULAYEM CREDITED THE COMPANY’S STRATEGY OF DEVELOPING INNOVATIVE NEW PRODUCTS AND SERVICES AND PRUDENT MANAGEMENT FOR DP WORLD’S IMPRESSIVE HALF-YEAR RESULTS.

Dubai, United Arab Emirates, 22Aug 2019: DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem credited the company’s strategy of developing innovative new products and services and prudent management for DP World’s impressive half-year results. Bin Sulayem added that DP World’s excellent performance against the backdrop of challenging global economic conditions is a testament to the company’s resilience, sound growth strategy and the diversification of its global investment portfolio across energy, maritime and sustainable mobility amongst others.

The statement was made as global trade enabler DP World PLC announced strong financial results today for the six months ending 30 June 2019 with reported adjusted EBITDA and attributable earnings growth of 21.9% and 26.8% respectively.

“Our half-year financial results have been in line with our expectations, Mr Bin Sulayem said. He highlighted that DP World continues to be guided by deep market understanding, innovation and operational excellence across 45 countries worldwide. Despite uncertainty from the trade war and challenging regional geopolitical realities, DP World has been able to deliver and excel a broadly impressive performance in the first half of 2019.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, added:“DP World is pleased to report like-for-like earnings growth of 22% in the first half of 2019 and attributable earnings of $753 million. This strong financial performance has been delivered in an uncertain trade environment, once again highlighting the strength of our portfolio.

We have continued to make progress on our strategy to become a trade enabler and solutions provider as we look to participate across a wider part of the supply chain. We have invested significantly across our Ports, Logistics & Maritime Services businesses. The aim is to connect directly with customers to offer logistics solutions and remove inefficiencies in the supply chain to accelerate trade. We are seeing positive signs of progress in our new businesses that give us encouragement for the future.

“Our balance sheet remains strong, and we continue to generate high levels of cash flow, which gives us the ability to invest in the future growth of our current portfolio. Going forward, we aim to integrate our new acquisitions and deliver synergies with the objective of providing smart end-to-end solutions, which will improve the quality of our earnings and drive returns.

“While the near-term trade outlook remains uncertain with global trade disputes and regional geopolitics causing uncertainty to the container market, the strong financial performance of the first six months also leaves us well placed to deliver full-year results slightly ahead of market expectations.”


July, 2019

DP WORLD TO OPERATE PORTS ALONG RUSSIA’S NORTHERN SEA ROUTE


DP WORLD TO RUN PORTS THAT RUSSIA PLANS TO BUILD ALONG THE NORTHERN SEA ROUTE IN THE ARCTIC TO SHORTEN SHIPPING TIMES BETWEEN THE EAST AND WEST.


The Russian Direct Investment Fund – being an investment fund of the Russian Federation, investing together with foreign investors in Russian assets; ROSATOM – the infrastructure operator of the NSR; Norilsk Nickel – the world leader in the production of palladium and high-quality nickel, and DP World – one of the largest global port and logistics operators have agreed to jointly implement a project for the integrated development of the NSR.

The quadrilateral agreement of intent was signed on June 6, 2019 during the St. Petersburg International Economic Forum. The agreement outlines a comprehensive piece of work which will study of the most effective commercial options for the use of the Northern Sea Route. The parties intend to create a strategic partnership in the form of a joint venture for the development of transit cargo traffic through the NSR.

The key objective of the project is to increase the volume of freight traffic through the NSR and the Arctic zone of the Russian Federation. The document was signed by Dmitriyev Kirill Alexandrovich, Director General of the RDPI Management Company, Vladimir Potanin, President of Norilsk Nickel, Alexey Likhachev, Director General of Rosatom, and His Excellency Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World (DPW) For the first stage, the parties to the agreement will have to develop a strategy to increase the efficiency of the use of the NSR and to determine ways of developing transit traffic.

The focus will be on linear transportation of containers and other bulk cargo along the Northern Sea Route. It will be necessary to determine the amount of funding for the design and construction of an additional ice-class fleet and icebreakers, as well as the port infrastructure. A separate important area of work: ensuring industrial safety and environmental protection in the implementation of transportation along the NSR.

The project partners are all world-renowned experts in their field of competence. The Russian Direct Investment Fund has many significant opportunities to attract foreign capital in the largest investment projects in the Russian Federation. ROSATOM is the authorized infrastructure operator of the Northern Sea Route and the owner of the world’s only nuclear icebreaking fleet. “Norilsk Nickel”, whose production facilities are located in the Far North, have many years of experience and knowledge in the field of logistics passing through the NSR.

The company provides cargo transportation not only for its own needs, but is a key participant in the “northern delivery” in the Arctic region of the country. DP World is one of the world’s largest and recognized global port operators and a leader in global digital supply chain solutions that specializes in freight logistics, terminal services and freight services.

His Excellency, Sultan Ahmed bin Sulayem said, “DP World is uniquely positioned to help drive the development of the NSR. We are excited about the possibilities and the benefits this will bring not only to the Russian economy, but to customers in Asia and Europe. Our expertise in developing new Ports, infrastructure and innovative new supply chain solutions, are key factors in our successes over the last few decades. We see enormous potential in NSR and look forward to creating new successes with our partners”

The parties agreed to establish a joint working group to conduct an analysis and prepare a feasibility study for the project within six months. Subject to this work being completed a next stage decision will be made on the further development of the project. “Norilsk Nickel is one of the pioneers in the development of the Arctic, a company with unique experience in operating the Northern Sea Route. We will share it for the further development of this unique route”, noted Vladimir Potanin.


May, 2019

NEW HIGH BAY CONTAINER STORAGE SYSTEM LAUNCHED AS “BOXBAY”


Introducing a new and intelligent High Bay Storage system that will transform the way containers are handled at ports.

Dubai/Dusseldorf, 17 April 2019: A new international joint venture that aims to change the way that containers are handled in ports has been launched by global trade enabler DP World and industrial engineering specialists, SMS Group.

“BOXBAY” represents a new and intelligent High Bay Storage (HBS) system that will be ready in time for the Dubai Expo 2020 with a pilot project scheduled at Jebel Ali Terminal 4.

The patented design and rack structure of the system creates unique advantages with containers stored up to eleven stories high, delivering the capacity of a conventional terminal in a third of the surface area.

By being fully automated it has direct access to each container, eliminating unpaid and unproductive reshuffling. It also features significant gains in handling speed, energy efficiency, safety and a major reduction in operating costs.

The joint venture brings together decades of experience in container terminal logistics at DP World and AMOVA’s high bay storage handling for metal products that weigh as much as 50 tons each in racks as high as 50 meters. BOXBAY will present its technology and operator business cases for the first time in public at the Terminal Operator Conference (TOC Europe) in Rotterdam in June.

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: “We continue to explore new technologies that push boundaries, disrupt and add value for our operations and customers. We are excited by the prospects for BOXBAY as handling speed and efficiencies are key aspects of the ports and terminals business and the system is a major development for the sector around the world. We look forward to the technology being installed especially in readiness for Expo 2020.”

Dr. Mathias Dobner, CEO of BOXBAY, said: “With our BOXBAY High Bay Storage technology, we are introducing a revolutionary system that will disrupt global port logistics. Following the world’s operators’ tremendous interest in our joint venture, we are now looking forward to showcase our solution to them in person.”

Burkhard Dahmen, CEO of SMS group, said: “The BOXBAY system is a direct result of our “New Horizon” strategy, in which SMS transfers proven technology from the metallurgical sector to other industries.” TOC Europe will take place from 18th to 20th of June in Rotterdam and the BOXBAY booth (E93) is located in the main hall.


January, 2019

Unique Joint Venture Between DP World and SMS Group to Revolutionise Global Port Logistics


DISRUPTIVE TECHNOLOGY TO RADICALLY IMPROVE OPERATIONS

World’s first high bay container storing system to be ready for 2020 World Expo in Dubai

Dubai, UAE/Dusseldorf, Germany, 17 December 2018: An international joint-venture formed by global trade enabler DP World and industrial engineering specialists SMS group will revolutionize the way that containers are handled in ports. A new and intelligent storing system will be applied for the first time ever at Jebel Ali Terminal 4, in time for the Dubai Expo 2020 world fair.

The High Bay Storage system was originally developed by SMS group subsidiary AMOVA for round the clock handling of metal coils that weigh as much as 50 tons each in racks as high as 50 metres. AMOVA is the first company to transfer this proven technology to the port industry.

Instead of stacking containers directly on top of each other, which has been global standard practice for decades, the system places each container in an individual rack compartment. Containers are stored in an eleven-story rack, creating 200 percent more capacity than a conventional container terminal, or creating the same capacity in less than a third of the space.

Thanks to the rack’s design each container can be accessed without having to move another one, enabling 100 percent utilization in a terminal yard. The system brings big gains in speed, energy efficiency, better safety and a major reduction in costs. Costs are further cut by the ability to shorten the time taken to load and unload mega-ships by as much as 30 percent.

Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO, said: “DP World’s experience and expertise in moving cargo coupled with the technology of AMOVA will ensure the system is remarkably efficient and relevant for present and future operations. As a world first in our industry we are tremendously excited by its potential and groundbreaking features. Our engagement in new technologies is a major priority and we have become known for seeking ways that transform the way goods are moved across the world. Innovation is part of our DNA and at the heart of our success.”

Burkhard Dahmen, CEO of SMS Group, said: “Our subsidiary AMOVA has optimized this technology in industrial applications for the metals industry over several decades. The application for container terminals is a direct result of our “New Horizon” strategy, in which SMS transfers technology from the metallurgical sector to other industries.”

Dr. Mathias Dobner, CEO of the joint venture, said: “This new container handling technology allows cities to use their expensive and sensitive land and waterfront areas more effectively. Our system will significantly increase the productivity of handling ships on the quay. This means that quay walls can be shortened by a third. This disruptive innovation will greatly improve the financial performance of container ports, and well as their overall appearance.”


November, 2018

DP World Reports 3.7% Gross Like-For-Like Volume Growth in 9m 2018


DP World Limited handled 53.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first nine months of 2018, with gross container volumes growing by 2.6 % year-on-year on a reported basis and 3.7% on a like-for-like basis1.

Gross like-for-like volumes declined by 0.5% in 3Q2018 due to the tougher year-on-year comparables (3Q2017 volumes grew 13.5% year-on-year), and softer volumes in the UAE.

The UAE handled 11.3 million TEU in 9M2018, down -2.1% year-on-year, with 3Q2018 volumes down -6.7% year-on-year due to the challenging macroenvironment and loss of lower-margin cargo. Growth in Europe remained robust with strong growth in London Gateway (UK) and Rotterdam (Netherlands).

At a consolidated2 level, our terminals handled 27.7 million TEU during the first nine months of 2018, a 1.6% improvement in performance on a reported basis and up 2.2% year-on-year on a like-for-like3 basis.

Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented:

“As highlighted in our first half throughput announcement, we have seen our volume growth decelerate due to the strong prior year performance and general caution in the market given the current uncertainty in global trade. In the UAE, the volume weakness in 3Q2018 is mainly due to loss of low-margin throughput, where our focus remains on profitable cargo and, while the near-term volume outlook in Jebel Ali remains challenging, we have taken measures to maintain profitability.

On our wider portfolio, we have made good progress in strengthening our product offering to play a greater role in the global supply chain as a trade enabler. We continue to focus on delivering operational excellence, managing costs and disciplined investment to remain the port operator of choice. We are also pleased to state that despite the softer volumes, we are on track to meet market expectations.”


September, 2018

DP WORLD ACQUIRES LEADING PORT RELATED LOGISTICS SOLUTIONS PROVIDER IN EUROPE


DP World acquires 100% of Unifeeder, the largest container feeder and growing shortsea network operator in Europe
Dubai, UAE, 7 August 2018: Global trade enabler, DP World today announces the signing of the acquisition of 100% of the Unifeeder Group (“Unifeeder”)1 for €660 million2 from Nordic Capital Fund VIII and certain minority shareholders. Based in Aarhus (Denmark), Unifeeder operates the largest and most densely connected common user container feeder and an important and growing shortsea network in Europe, serving both deep-sea container hubs and the intra-Europe container freight market. The Group reported revenue of €510 million in 2017 and EBIT margins in line with other asset-light logistics operators. The acquisition is subject to regulatory approvals and expected to be earnings accretive in the first full year after completion. It will be financed from existing balance sheet resources and is expected to close in 4Q 2018.


The acquisition of Unifeeder will further enhance DP World’s presence in the global supply chain and broaden our product offering to our customers – the shipping lines and cargo owners – with a view to ultimately reduce inefficiencies and improve the competitiveness of global trade. The current operations of Unifeeder are complementary to DP World’s existing business and provides future growth opportunities.
Unifeeder, founded in 1977, is an integrated logistics company with the largest and best-connected feeder and growing shortsea network in Northern Europe with connectivity to approximately 100 ports. The company provides efficient and sustainable transport solutions for international container shipping lines between international and regional ports and shortsea services to cargo owners with fully multimodal door-to-door solutions, combining seaborne transportation with road and/or rail. The business is cash generative and operates on a highly flexible cost base.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “We are delighted to add the Unifeeder brand under the DP World umbrella, which supports our strategy to grow in complementary sectors, strengthen our product offering and play a wider role in the global supply chain as a trade enabler.
“The ever-growing deployment of ultra-large container vessels has made high-quality connectivity from hub terminals crucial for our customers and Unifeeder is a best-in-class logistics provider in this space with a strong reputation in Europe. Our aim is to leverage on the in-house expertise of Unifeeder and to accelerate growth in this scalable platform to deliver value for all stakeholders. Unifeeder operates on the same common-user principle as DP World and adds to the Group’s strong value proposition to international shipping lines and end cargo owners in making the global supply chain more efficient and cost effective.”
Jesper Kristensen, CEO, Unifeeder A/S, said: “We are excited to join the DP World Group as we believe that Unifeeder will benefit from the Group’s significant expertise in the wider supply chain and excellent relationships with shipping lines and end cargo owners. Not only is there commonality with our business models but we also share the vision of serving our customers through removing inefficiencies and delivering sustainable shareholder value. We have enjoyed great success over the last five years under Nordic Capital’s ownership, and we believe that the Unifeeder brand within the DP World Group has the opportunity to accelerate growth, expand further and take the business to the next level.”


July, 2018

CONNECTING AND RECONNECTING


CSS GROUP PARTICIPATES THE GALA DINNER HOSTED BY DP WORLD

The CSS Group joined DP World at their annual Gala dinner, organized back in April, 2018 at the renowned Atlantis the Palm resort in Dubai. The banquet celebrated partnerships and achievements made by DP world and its clients across the UAE. Chandrakala (CK), Chief Operating Officer, NVOCC and Dr. Britto Satheesh, Director of the CSS Saudi Arabia branch represented the Group at the event.

“It was a good opportunity to hear DP World’s developments and successes over the years, especially for the year 2017. They are looking at a positive 2018 which is indeed amazing news for the logistics fraternity. We met with both new and old faces, I felt it was a good networking event” commented CK.
The CSS Group and DP World have enjoyed a wonderful working relationship over the years, never missing an opportunity to reconnect.
“This was a great opportunity for me to know how such events are organized – it was well put together, catering to over 3000 attendees. Being amongst the event’s delegates, I thoroughly enjoyed meeting a lot of agents and forwarders – new and old,” mentioned Dr. Satheesh.


July, 2018

NEXT PHASE OF PRINCE RUPERT FAIRVIEW TERMINAL EXPANSION UNVEILED


CAPACITY INCREASE TO 1.8 MILLION TEU IN 2022 AND CREATION OF 300 NEW JOBS

Dubai, United Arab Emirates, 20 June 2018: The Port of Prince Rupert and DP World have agreed on terms of a project development plan that outlines the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal.
The Phase 2B expansion will increase annual throughput capacity at Canada’s second largest container terminal to 1.8 million TEUs (twenty-foot equivalent units) when complete in 2022.
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: “Canada is an important part of our global network and we are delighted to confirm these plans, which underline our commitment to Prince Rupert, which plays a major role in enabling trade in the region and across the west coast with rail connections inland to the rest of the country and the United States. It also demonstrates the excellent relationships built with the Port Authority and the confidence we both share in the future and the creation of jobs in the community, stimulating the local and regional economy. I would like to thank all our partners and people at Prince Rupert for their commitment and ongoing support.”
The Fairview Phase 2B project follows the 2017 completion of Fairview Phase 2A, which increased the terminal capacity by 500,000 TEUs to its current capacity of 1.35 million TEUs. Construction on Phase 2B will begin in mid-2019. There will be an initial gradual release of capacity to 1.6 million TEUs in 2020, following the completed expansion of the container yard to the south.
Port of Prince Rupert Chair, Bud Smith, said: “The execution of this agreement signifies DP World’s commitment to enabling Canadian trade with another significant investment that will bring a total of one million additional TEUs of container capacity to the Port of Prince Rupert in less than five years. This project will provide critical trade-enabling infrastructure for Canada’s west coast, a timely response to forecasted growth in trans-Pacific trade and supportive of Canada’s efforts to diversify markets through new free trade agreements such as the CPTPP.”
The project will expand the container yard from its current 32 hectares to 41 hectares and add two new rubber-tired gantry (RTG) cranes as well as an eighth dock gantry crane. The existing maintenance and administration buildings will be relocated to create additional container storage capacity.

DP WORLD JOINS WORLD OCEAN COUNCIL

FIRST COMPANY IN SECTOR TO BECOME A FULL MEMBER

Dubai, UAE, 7th June 2018: Global trade enabler DP World has become the first company in its sector to join the World Ocean Council (WOC) as part of its leadership journey to actively engage in the protection of the world’s oceans. By becoming a member of the growing international multi-industry alliance on “Corporate Ocean Responsibility” DP World will commence, enhance and advance its role as a responsible leadership company.
The WOC is a global, cross-sectoral business leadership alliance with a network of over 35,000 stakeholders addressing corporate ocean responsibility. Developed by and for the private sector, it addresses issues affecting ocean sustainable development, science and stewardship. It brings together representatives from shipping, oil and gas, tourism, fisheries, aquaculture, mining, renewable energy, ocean technology and financial services sectors. The WOC is a registered not-for-profit organisation in the US, the UK and Europe.


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