Middle East

Nearly all of the 35 ports in the Middle East Gulf region are currently undergoing expansion, with $46.5bn already committed. This follows $38.2bn invested up to 2008 and $38.5bn alone in 2009.

Israels Government Companies Authority has begun the process to privatise the port of Eilat. Bids can be made up until May 19 for a 100% stake in Eilat Port Company Limited.

DP World is to pitch a one for 20 share consolidation to shareholders at its annual meeting on 11 May.

Abu Dhabi Ports Company has ditched its planned bonds issue later this year after failing to raise the necessary $7.2bn for its Khalifa Port and Industrial Zone development from private lenders.

DP World has denied that it is in talks to restructure the company and seek new terms for its debt. Rumours arose following its decision to sell off its equity stake in…

DP World has ceded management of Mina Zayed to Abu Dhabi Terminals. It had previously enjoyed a five-new management contract at the site. ADT is a joint-venture between Abu Dhabi Ports Company…

DP World announced it handled 49.6m teu across its 50 terminals in 2010, an increase of 14% against the prior year.

American business students would learn a great deal from DP World’s business model: that’s the conclusion from a group of academics from some of America’s leading universities who visited the company’s HQ…

Saudi Ports Authority has signed a $36m contract to build a dry bulk berth at Yanbu commercial port. Work will take no more than 24 months.

Iran Cooperative Chamber and Chinas Chamber of Commerce in the Middle East have signed a contract which will see the latter build a third-generation port in Iran. This will be in cooperation…

The Port of Salalah has confirmed that it has received bids from 19 companies interested in building a major new general cargo terminal and liquid jetty. The estimated cost is $181m.

In the first nine months of 2010, DP World global traffic rose 15% to 36.7m teu, marking a return to 2008 levels.

Vessel tracking management specialist Transas Marine has signed a “multi-million Euro” VTMS contract with Libyan Ports and Maritime Transport Authority (PMTA). Transas will now supply and install Libya’s national scale Coastal Surveillance…