DP World has taken a small step forward in its tussle with the Djibouti government over the Doraleh Container Terminal. The international port operator said in a press release that an Arbitral Tribunal of the London Court of International Arbitration (LCIA) has confirmed the illegitimacy of the Government of Djibouti’s action of seizing control of the Doraleh Container Terminal (DCT) from DP World.
A continued upswing in global trade saw DP World reporting 4.8% growth in gross container volumes to 35.6m teu across its global portfolio of container terminals in the first half of 2018.
The fight over port facilities in Djibouti continues and potentially pits port operating giants DP World and China Merchants against each other as the former reiterated in a press release that its concession agreement for the Doraleh Container Terminal (DCT) remains in force, and warned that the Djibouti government’s illegal seizure of the facility “doesn’t give the right to any third party to violate the terms of the concession agreement”.
DP World is expanding its facilities at the DP World Prince Rupert Fairview Container Terminal after agreeing with the Port of Prince Rupert on the terms of a project development plan that outlines the next phase of expansion at the terminal.
In line with World Environment Day on June 5, DP World’s Jebel Ali Free Zone (Jafza) launched the UAE’s first green storage and warehouse facilities in Dubai, helping businesses to reduce their carbon footprint.
DP World has announced the successful closing of the acquisition of Cosmos Agencia Marítima (CAM) in Peru which also bring 50% stake in Terminales Portuários Euroandinos in the Port of Paita. Cosmos Agencia Maritima is one of the largest logistics companies on Latin America.
Major port operator DP World is teaming up with Egyptian government-linked parties to develop a new inland container deport (ICD) that is expected to boost the flow of cargo into inland areas.