Dubai-based port operator DP World partnered with US-based Virgin Hyperloop One to launch DP World Cargospeed, a new global company intended to provide hyperloop-enabled cargo systems to support the fast, sustainable and efficient delivery of palletised cargo. The first initiative of its kind in the world, the company is expected to deliver freight at the speed of flight and closer to the cost of trucking.
Hyperloop is a futuristic mode of passenger and freight transportation in which a pod-like vehicle is propelled through a near-vacuum steel tube, with most of its air removed, at higher than airline speed. Next-generation magnetic levitation technology combined with a lowpressure tube environment enables the pods to move quickly with little friction. Hyperloop can achieve top speeds of up to 300 metres/second, making it two to three times faster than highspeed rail.
In addition, the technology facilitates autonomous operations designed to reduce human errors and run with minimal delays. Hyperloop is more cost-effective to implement and operate than high-speed rail. Its fully electric and zero direct emissions make it a highly environmentally friendly technology.
DP World Cargospeed systems, enabled by Virgin Hyperloop One technology, will transport high-priority, time-sensitive goods including fresh food, medical supplies, electronics, and more. It will expand freight transportation capacity by connecting with existing modes of road, rail and air transport.
Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO, stated:
We have made a significant investment in Virgin Hyperloop One because we see the need for a hyperloop-enabled cargo network to support rapid, on-demand deliveries globally. We believe in Virgin Hyperloop One’s long-term vision. They are the right partner to shape the future of global logistics, and we look forward to developing the first DP World Cargospeed systems with them.
Rob Lloyd, CEO of Virgin Hyperloop One, commented:
Based on McKinsey’s assessment of our technology, Virgin Hyperloop One-enabled supply chains can dramatically impact business bottom lines by reducing both finished goods inventory and required warehouse space by 25%. Collectively, we chose to call our Virgin Hyperloop-enabled cargo solution DP World Cargospeed, because speed is about more than just getting from A to B; it’s about optimising the entire end-to-end journey.
The Virgin Hyperloop One system underpinning DP World Cargospeed doesn’t need to be passenger-only or cargo-only. It is a mixed-use system that fully utilises system capacity and maximises economic and social benefits. Systems are 100% electric and can be powered by renewable energy, creating a more sustainable solution for cargo transport.
