NORTH AMERICA

New York seeks to dump P&O

21 years ago

Amidst the political storm raging in the US over DP Worlds acquisition of P& O Ports, the Dubai company is to separate the US part of P& O Ports which will effectively put on indefinite hold plans take control of its US terminal interests.

As a result, two government departments have been asked to look into anomalies amounting to US$3.8m.

The Port Authority of New York and New Jersey had earlier announced it will go court to terminate its lease with P&O. Describing it as a “simple landlord-tenant dispute”, the port authority said P&O had violated the terms of its tenancy by failing to seek the landlord’s blessing for the transfer to DP World.