Tag: DP World

Dubai-based port operator DP World informed of a third quarter decline in cargo handled across its global portfolio, with volumes in Dubai falling for a sixth consecutive quarter. Releasing figures for the third quarter of 2019 on Tuesday, the port operator said it handled 18 million TEU containers in its ports, 1.6% down compared to the same period one year ago.

The $538 million first phase of the new Deepwater Port of Posorja in Ecuador by DP World, has been completed and is now successfully operational. The US$1.2 billion project will replicate Dubai’s Jebel Ali Port and freezone, opening a gateway for large container ships with capacities exceeding 10,000 TEUs.

The largest container vessel in the fleet of Russian carrier Oboronlogistics, Sparta III, successfully delivered cargo from China to Europe via the Northern Sea Route. The carrier in particular, stated that the overall saving on the journey is estimated to be USD $330,000. Moreover, significant savings in fuel and increase of security were also reported since the vessel navigated through pirate-free regions.

Dubai-based port operator DP World is expected to complete merger of its P&O Maritime and recently-acquired Topaz Energy and Marine businesses by the end of the year, Topaz CEO Rene Kofod-Olsen said on Monday. DP World bought Dubai-based oil services company Topaz in July.

Maritime and transport unions from numerous countries have supported Australian wharfies in fighting job losses, outsourcing, automation and threats to conditions at container terminals in Melbourne, Sydney, Brisbane and Fremantle, the International Transport Workers’ Federation (ITF) stated.

DP World stands against a decision to be taken later this week by the government of Djibouti to implement the country’s high court to rule all previous international adjudications. The company said that such a decision is 'a complete disregard for and contravention of the global legal system and existing contracts.'

Virgin Hyperloop One announced its partnership with Saudi Arabia's Economic City Authority (ECA) on a study to construct the world's longest test and certification hyperloop track, and also a research and development center and hyperloop manufacturing facility north of Jeddah.

UAE-based terminal operator DP World and Indonesian conglomerate Maspion Group inked two preliminary agreements to create a US$ 1.2 billion container port and industrial logistics park in East Java, in line with Indonesian President's efforts to accelerate economic growth.

As Bloomberg reports, the US sanctions against Iran and Abu Dhabi's competition are having a negative impact at DP World Plc's ports in Dubai, who are seeing a less cargo volumes for a fifth year in a row. Drewry focuses on the fact that the Dubai's container volumes have also been affected by the restrictions on cargo shipments to Qatar because of an embargo by the UAE and additional Arab nations.

As Australia's Maritime Union reported, a crucial safety incident took place at DP World’s Port Botany container terminal, in Australia. The wire ropes of the crane used to load and unload shipping containers slipped; Yet, there were no injuries.