Dubai-based DP World will acquire a majority 51% stake in TIS Container Terminal in the Ukrainian port of Yuzhny, boosting its position and presence in the market-leading terminal of Ukraine.
Through a statement, DP World commented that the acquisition compliments the operator’s existent operations, providing tugging, pilotage and other marine services in several Ukrainian ports.
The acquisition is in line with DP Wold’s goal to develop data-driven integrated logistics solutions for moving cargo from the point of manufacture to final destination, deploying technology to remove inefficiencies in the supply chain, and focusing on fast-growing markets and key trade routes.
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The Ukrainian container market increased by 20% in 2019 and TIS Container terminal has one of the most efficient railway connections in the region to major Ukrainian cities, supporting trade flows to the hinterland.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World commented that
Our goal is to build the industry’s leading data-driven supply chain solutions through our global portfolio, creating opportunities for our customers to realise game-changing value and accelerate their cargo deployments. We believe the strategic partnership with TIS Group will enable the terminal to continue growing, further cementing TIS Container Terminal’s position as the leading gateway to Ukraine.
Recently, DP World reported its 2019 TEUs stating that despite the challenges resulting from the US-China trade war, their portfolio saw a development representing their resilience.
