Tag: DP World

DP World Australia will release another 100 stevedores in Sydney, as well as 100 stevedores in Melbourne. This decision comes to add to the 47 stevedores that DPWA already fired in Melbourne this week through voluntary redundancies. The ever-increasing of consolidations led to changes to global shipping line services calling Australia. This fact, along with excess stevedoring capacity were the factors which challenged DPWA’s outlook.

Amid a recently announced strike of stevedores in major Australian ports, DP World Australia expressed its disappointment and called for an end to the escalating industrial action, 'particularly at a time when shipping lines are reviewing stevedore contracts'.

The Maritime Union of Australia reported that wharfies are striking for 48 hours at DP World’s Brisbane, Sydney and Fremantle container terminals, and for 96 hours in Melbourne, to fight against automation, outsourcing, cuts to income protection insurance.

The Vancouver Fraser Port Authority, in collaboration with Centerm container terminal operator DP World, announced that it is donating $2 million to community initiatives as part of the Centerm Expansion Project in the Port of Vancouver. The Centerm Expansion Project aims to help meet near-term demand for containers shipped through the Port of Vancouver.

DP World Plc is under discussions on acquiring Topaz Energy & Marine Plc, which is to become the company's first venture into oil and gas sector. The acquisition will be for an enterprise value of $1,079 million.

DP World Southampton announced the launch of new hybrid equipment that will enable it further reduce its emissions and carbon footprint. According to the port's statement, the new hybrid equipment commenced its operation this week.

Jebel Ali Free Zone (Jafza), the Middle East’s special economic zone and part of DP World, announced it will waive an estimated AED 35 million (=USD 9,530) in fines owed by its customers, in commemoration of the UAE Government’s designation of 2019 as the Year of Tolerance.

The Prince Rupert Port Authority (PRPA) has announced plans to create up to 7 million TEU of additional capacity through the development of multiple new terminals. The Authority aims to expand the Fairview Terminal and build a second container terminal at Prince Rupert’s South Kaien Island site.

DP World agreed to buy Canadian marine terminal Fraser Surrey Docks from a Macquarie Group fund. The terminal will be purchased through the Canadian subsidiary DP World Canada Investment Inc, which is 45% owned by Caisse de dépot et placement du Québec. The deal is expected to finalize during the first half of 2019.

In a court filing, the Competition Commission of India said that a challenge by Dubai’s DP World of a probe into its alleged anti-competitive practices at a Mumbai port is an effort to halt or delay possible adverse findings against the firm.