DP World buys remaining Southampton terminal stake
DP World has acquired the remaining 49% stake in DP World Southampton from Associated British Ports (ABP) which has made the operator the sole owner of the business.
The operator has also agreed with ABP to extend its license agreement for DP World Southampton for a further 25 years until 2047.
A DP World spokesperson told Port Strategy that from DP World’s perspective, it makes sense to be in the position to offer its customers a two port solution in the UK at DP World Southampton and DP World London Gateway.
"The combined port cities of London and Southampton provide the right geographic split with flexibility, intermodal connectivity and operational backup facilities. We believe that DP World now has the opportunity to offer our customers the best possible UK coverage and long term growth with a credible, more cost effective and flexible alternative to our competitors."
The spokesperson told PS that DP World’s primary commercial focus is to offer our liner customers and their customers the best possible service.
"This deal enables us to do that in the UK on several levels and we shall of course be discussing that with our customers. As shipping line consortiums and vessels get bigger, our aim is to always offer our customers a progressive and upgraded, unique level of service and alternatives in the UK. We believe that this agreement allows us to do that for many years to come."
The operator has said that the synergies between London and Southampton will make operations even more efficient and make a huge contribution to the UK economy in terms of infrastructure and local employment.
DP World has previously said that it is committed to the UK and developing its presence in developed markets as part of its global network.
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