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New technology and sustainability focus drove strategic expansion for DP World in 2018
DP World announced it has achieved growth in diverse fields for its global business portfolio through investments and acquisitions worth $3bn and extended support to environmental initiatives across the globe during 2018.
Some key projects were the launch of DP World Cargospeed with Virgin Hyperloop One and taking over leadership of the technology company, digital transformation of business operations across the global portfolio, the game changing high bay storage system for containers at Jebel Ali, the launch of a $3bn investment platform in India, acquisition of complementary businesses in Europe, India and Peru, and container port development projects in Africa. DP World also closed the 100% acquisition of Drydocks World LLC (Drydocks).
People development was the other key area of focus through association with the Erasmus University in Rotterdam, to develop a strategic skills development programme and the 20Xel programme to recruit UAE nationals for future leadership roles.
DP World Group chairman and ceo Sultan Ahmed Bin Sulayem said: "2018 was a successful year and a period of strategic growth for DP World in diverse fields. We made major strides in our evolution into a company that focuses on smarter trade to make lives better through data driven logistics. Innovation, with an eye on future trade solutions and acquisitions designed to expand our global business footprint were key."
Bin Sulayem said the $3bn investment platform in India with the government’s National Infrastructure Investment Fund (NIIF) saw DP World acquire Continental Warehousing Corporation (Nhava Sheva) Ltd.
"Our activity in Africa gathered pace as we signed an agreement with the Suez Canal Economic Zone (SCZone) to implement the first phase of an integrated industrial and residential zone in Sokhna, Egypt. We will also soon build and operate a 1,000-hectare modern logistics hub outside of Bamako in the Republic of Mali. In the Democratic Republic of Congo, we announced a new concession for the management and development of a greenfield multi-purpose port at Banana, the first deep-sea port in the country along its small coastline of 37 kilometres," he said.
"Last but not least, Ethiopia became a shareholder of the Port of Berbera as we invest in infrastructure to develop the Berbera Corridor as a trade gateway for the landlocked nation, which is one of the fastest growing economies in the world. Construction began on the expansion works in Berbera and we look forward to helping the region develop its economic potential."
Elsewhere in Kazakhstan, DP World signed two framework agreements to run Special Economic Zones (SEZ) in Aktau and Khorgos which act as primary transit points for trans-Eurasian cargo trains.
In the Americas, DP World agreed on terms for the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal on the Pacific Coast of Canada. In Europe, a new cruise passenger terminal at DP World Limassol opened providing world-class facilities and services for passengers.
"Despite the challenging global economic uncertainties, we have experienced continued revenue growth by focusing on high value cargo, operational efficiencies and consistently delivering value to our customers through smart solutions. We are committed to continue to build on the gains of the past year as we enter 2019," Bin Sulayem said.Posted On:3-Jan-2019
Credits: www.indiaseatradenews.com |
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Chinese fish carrier aground, abandoned, Marshall Islands
Fish carrier OU YA LENG 6 ran aground on Atoll Taka, Marshall Islands, in the afternoon Jan 2, probably at full speed, according to AIS track. Hull was breached, ship reported water ingress, 24 crew went into lifeboat and reached uninhabited atoll. US Coast Guard is coordinating rescue operation. No news yet on salvage plan and ship s condition.Posted On:3-Jan-2019
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One more ferry sank at Puerto La Cruz, Venezuela
Lay-up ferry MARIA ROSARIO on Dec 31 partially submerged alongside pier at Puerto La Cruz port, Venezuela, due to total lack of maintenance. It is the third abandoned ferry in distress, in Puerto La Cruz. Port authorities demand from owner wreck removal, though it seems hardly possible, considering Venezuela s political and economical turmoil.Posted On:3-Jan-2019
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ONE s Boxship Sets Productivity Record at PSA Terminal
Singapore-based shipping company Ocean Network Express (ONE) and PSA Singapore (PSA) celebrated the highest productivity record of ONE s containership NYK Swan at the PSA s Pasir Panjang Terminal on December 21, 2018.
Over 6,000 container moves were accomplished in 18.5 hours or a gross berth productivity rate of over 300 shipshore moves.Posted On:3-Jan-2019
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Samsung Heavy Industries Wraps Up 2018 with 49 Ships on Order
South Korean shipbuilder Samsung Heavy Industries (SHI) closed the year with 49 ships in the orderbook, the final order being announced on December 31, 2018.
The order relates to the construction of an LNG carrier for an unnamed owner worth KRW 209 billion (approximately USD 185 million).Posted On:3-Jan-2019
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NCL Refinances Its Senior Secured Credit Facility
Miami-based Norwegian Cruise Line Holdings has agreed a refinancing of its senior secured credit facility. The company amended its existing senior secured credit facility by repricing its USD 875 million revolving credit facility, repricing and increasing its Term A loan facility to USD 1.6 billion and extending the maturity dates for both to January 2024.Posted On:3-Jan-2019
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Forward Ships Wins Patent in South Korea
Forward Ships, established as part of the Project Forward that promotes the adoption of LNG as fuel, has won its first official patent right from South Korea.
The project, led by Athens-Based Arista Shipping, advocates that with LNG as fuel, an advanced hull design, and highly efficient propulsion machinery, it will be possible to meet the IMO s target for a 40 percent reduction in carbon intensity by 2030.Posted On:3-Jan-2019
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Pirates Kidnap Crew Members from MSC Containership off Benin
Several crew members have been reported missing following a pirate attack on one of Mediterranean Shipping Company s containerships off the coast of Benin, West Africa.
A small containership was attacked on January 2, 2019 in the Gulf of Guinea and several crew members were reported as missing, a spokesman for MSC confirmed to World Maritime News.Posted On:3-Jan-2019
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Cargo ship capsized, 5 crew rescued, 10 missing
Taiwanese rescuers were alerted at around 0830 Taiwan Time Jan 2 by a distress message - general cargo ship LONDON reported capsized some 80 nm northeast of Pengjia islet, small island NE of northernmost Taiwan tip. SAR was launched to rescue 15 crew (14 Myanmar and 1 Taiwan nationalities).Posted On:3-Jan-2019
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APM Terminals Bahrain recognized with Ministry of Labour Safety Excellence Award for 2018
APM Terminals Bahrain, the operator of Khalifa Bin Salman Port (KBSP) has been recognized with the Ministry of Labor Safety Excellence Award for 2018 for its outstanding efforts in compliance and implementation of occupational health and safety in workplace as one of the distinguished private sector companies in the Kingdom of Bahrain.Posted On:3-Jan-2019
Credits: www.bunkerportsnews.com |
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Vietnamese seaports welcome first shipments of New Year 2019
A series of ports from the North to the South received their first shipments of the New Year 2019 on January 1 while most agencies and organisations were enjoying the four-day holidays.
In Hai Phong, three seaports of Hoang Dieu, Chua Ve and Tan Vu held ceremonies to welcome first consignments in a bustling atmosphere.Posted On:3-Jan-2019
Credits: www.bunkerportsnews.com |
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Efficiency, SGR seen driving growth at Mombasa port
The Northern Corridor Transit and Transport Co-ordination Authority (NCTTCA) has predicted faster business growth at the Port of Mombasa occasioned by efficiency and the standard gauge railway (SGR) cargo haulage.
NCTTCA member states are Kenya, Rwanda, Uganda, Burundi, Democratic Republic of Congo, and South Sudan.Posted On:3-Jan-2019
Credits: www.bunkerportsnews.com |
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Cosco Shipping Ports Takes 4.34% Stake in Beibu Gulf Port
COSCO SHIPPING Ports Limited, a leading ports operator in the world, announced that it has subscribed for 70,943,455 shares of Beibu Gulf Port Co., Ltd. ("Beibu Gulf Port") for a total consideration of approximately RMB 470 million, through China Shipping Terminal Development Co., Limited, a subsidiary of the Company.Posted On:3-Jan-2019
Credits: www.bunkerportsnews.com |
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