DP World looks to Iran
DP World is looking to invest in Iran after reporting a strong first half of the year, with a 21.9% increase in profit to US$405m, local media reports.
According to Shipping and Marine Events, the company is looking to launch operations in Iran, spurred by the country’s rail link that connects the Silk Route from China to Europe.
"Regarding specific investments in Iran, we constantly explore opportunities around the world," a spokesperson told Port Strategy. "While we expect any easing of sanctions to create opportunities for the region and beyond, any actions that lead to an increase in trade flow is likely to benefit Jebel Ali given its position as the regional hub."
The terminal operator continues to grow its portfolio following the acquisition of Economic Zones World, and investing over US$3.5bn in acquisitions and expansionary capex in 2015 alone.
“We remain on course to deliver over 100 million teu of capacity by 2020, while maintaining the existing shape of our portfolio that has a 70% exposure to origin and destination cargo and 75% exposure to faster growing markets,” said Sultan Ahmed Bin Sulayem, chairman.
“The near term outlook remains uncertain with limited visibility. However, we believe our business is well positioned to continue to outperform the market,” added Mohammed Sharaf, Group chief executive. “We remain focused on delivering relevant new capacity in the right markets, improving efficiencies and managing costs to drive profitability.”
DP World says it’s on track for approximately 85 million teu of capacity globally.
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