DP World has warned investors to “think twice” about investing in Djibouti following the enactment of a decree which transferred the shareholding of Port de Djibouti SA (PDSA) in Doraleh Container Terminal SA (DCT) to the Government of Djibouti.
DP World has ordered 12 Kalmar hybrid straddle carriers for its terminal in Southampton, UK, as part of what the organisation said is its role in increasing the sustainability of supply chains.
DP World has defended its controversial terminal infrastructure access charges, saying they are essential to keep the entire supply chain competitive.
DP World’s acquisition of European short-sea and feeder carrier Unifeeder is unprecedented in scale and naturally throws up questions about the company’s motivation, Drewry has stated.
DP World has warned that “geopolitical headwinds and changes to “trade policies” remain a threat to the maritime container market as it released its financial results for the first half of 2018.
DP World has acquired Unifeeder Group for €660m to boost its presence in the maritime global supply chain and help it become a “trade enabler”.
An arbitral tribunal of the London Court of International Arbitration (LCIA) has ruled that the Government of Djibouti’s seizure of the Doraleh Container Terminal from DP World is illegal because the latter’s concession agreement remains valid.
DP World has reiterated that its concession agreement for the Doraleh Container Terminal (DTC) remains in force, warning that the government’s seizure of the facility doesn’t give the right to any third party to violate the terms of the concession agreement.
The next phase of expansion for the DP World Prince Rupert Fairview Container Terminal will increase annual throughput capacity to 1.8m teus when complete in 2022.
Potential investors in Djibouti and the Horn of Africa are being warned that corruption, debt and poor governance pose significant investment risk factors.
Port giant DP World has partnered with Virgin to create a company to provide cargo-carriage systems that use a futuristic, high-speed tube-transport method described as the first new major transportation mode in a century.
Somalia's foreign minister has said DP World should reconsider its contract with Somaliland and work with Somalia’s federal authorities so the country’s sovereignty is not violated.
DP World has issued a statement warning that its concession agreement to operate the Doraleh Container Terminal (DCT) in Djibouti “remains in full force and effect.”
DP World confirmed it hasn’t received a purchase offer for its 33% stake in Doraleh Container Terminal following state-controlled Djibouti Ports and Free Zone Authority’s (DPFZA) claim that it is prepared to buy the company out to avoid legal action.
DP World has won a 30-year concession for the management and development of a greenfield multi-purpose port project at Banana, Democratic Republic of the Congo (DRC).
A dispute over plans to develop Somaliland’s Port of Berbera risks destabilising the Horn of Africa region, Somaliland’s foreign affairs minister has claimed.
DP World reported total revenue of $4.7bn and total profit of $1.2bn in 2017, marking increases of 13.2% and 7.3% respectively from 2016.
DP World may develop a US$1.2bn deepwater port in the Democratic Republic of Congo (DRC), according to documents published by a Senegalese whistle-blowing organisation.
A Port of Berbera investment deal between DP World, the state of Somaliland and Ethiopia has been declared “non-existent, null and void” by the Federal Government of Somalia.
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