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Dubai Ports World

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Dubai Ports World

Coordinates: 24°59′N 55°05′E / 24.983°N 55.083°E / 24.983; 55.083

DP World
Dual-listed company
Traded as DPW
Industry Maritime
Founded 2005
Headquarters Dubai, United Arab Emirates
Key people Sultan Ahmed bin Sulayem, Chairman
Jamal Majid Bin Thaniah, Vice Chairman
Mohammed Sharaf, CEO
Anil Wats, COO
Yuvraj Narayan, CFO
Products Ferries, port services, logistics services
Revenue Increase $3,121 million[1] USD
Employees 30,000
Website www.dpworld.com

DP World operates more than 60 terminals across six continents, with container handling generating around 80% of its revenue. In addition, the company has 11 new developments and major expansions underway in 10 countries. In 2011, DP World handled nearly 55 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia. With a pipeline of expansion and development projects in key growth markets, including India, China and the Middle East, capacity is expected to rise to around 92 million TEU by 2020, in line with market demand. It employs 30,000 people.[2] A majority of the company is owned by Dubai World

The company was founded in 2005 by merging Dubai Ports Authority and Dubai Ports International (which had been founded in 1999). It purchased Peninsular and Oriental Steam Navigation Company (P&O) of the United Kingdom in 2006 for £3.9 billion ($7 billion), which was at the time the world's fourth largest ports operator. Shares representing 20% of the company were floated on the NASDAQ Dubai stock exchange in 2007. The company does not currently operate in the United States where its purchase of a number U.S. ports led to high-level controversy.

History

Early History

Dubai Ports International (DPI) was founded in 1999.[3] Its first project was at Jeddah, Saudi Arabia, collaborating with a local partner on the management and operation of the South Container Terminal (SCT). DPI then went on to develop operations at the ports of Djibouti in 2000, Vizag, India in 2002 and Constanta, Romania in 2003.[3] In January 2005, DPI acquired CSX World Terminals (CSX WT).[4] It was later, in September 2005 that Dubai Ports International officially merged with the Dubai Ports Authority (DPA) to form DP World.[5] The rapid expansion through acquisition continued in March 2006 when DP World purchased the fourth largest ports operator in the world, The Peninsular and Oriental Steam Navigation Company (P&O) for £3.9 billion ($7 billion).

2006: US Port security controversy

The ownership of various U.S. ports by DP World (which had been acquired as part of the P&O deal) was seen as highly controversial by many in the United States even though it was supported by the U.S. president of the time (George W. Bush); the US ports were sold shortly afterwards.

P&O operated major U.S. port facilities in New York, New Jersey, Philadelphia, Baltimore, New Orleans, and Miami. Before the deal was secured, the arrangement was reviewed by the Committee on Foreign Investment in the United States headed by the U.S. Treasury Department and including the Departments of State, Commerce, and Homeland Security. It was given the green light, but soon after, both Democratic and Republican members of Congress expressed concern over the potential negative impact the deal would have on port security.

On 22 February 2006, President George W. Bush threatened to veto any legislation passed by Congress to block the deal, which would be the first time in his presidency he would exercise the privilege. In a statement to reporters, Bush claimed, "It would send a terrible signal to friends and allies not to let this transaction go through."[6] On 23 February 2006, DP World volunteered to postpone its takeover of significant operations at the seaports and on 9 March 2006, is said that it would transfer its operations of American ports to a "U.S. entity".[7]

The United States House of Representatives held a vote on 16 March 2006 on legislation that would have blocked the DP World deal, with 348 members voting for blocking the deal, and 71 voting against.[8] DPs World later sold P&O's American operations to American International Group's asset management division, Global Investment Group for an undisclosed sum.[9]

In August 2006, DP World signed an agreement with the Port Qasim Authority, to invest in a new container terminal at Port Muhammad Qasim near Karachi and announced that it was in discussions with the Pakistani Government about the development of a container terminal at Gwadar in Balochistan.[10] DP World had been favourite to win the Gwadar concession, but withdrew from the bidding.[11] Gwadar Port was subsequently awarded to PSA (Port of Singapore Authority) and opened in March 2007.[12]

2007-2010: NASDAQ Dubai listing

In June 2007 the company raised $3.25 billion in Islamic and conventional bond sales to refinance existing debt and fund expansion[13] and issued 3.818 billion shares, representing 20% of the company on the NASDAQ Dubai stock exchange in November 2007 in what was the Middle East's largest initial public offering (IPO) which raised 4.96 billion dollars.[14]

By 2008 the company was handing 46.8 million TEU worldwide, up 8% on 2007, with expansion and development projects in India, China, the Middle East, and elsewhere. Capacity was expected to rise to around 95 million TEU over the next ten years.[3]

In December 2009 Moody's downgraded DP World's financial status to junk after the Dubai 2009 debt standstill.[15]

2010-Present: London dual listing

In the second quarter of 2010 DP World gave the go-ahead for construction of the £1.5 billion London Gateway port.[16][17] Work started in February 2010[18] with the port due to open in the fourth quarter of 2013. By April 2011, Moody's upgraded DP World's financial status to 'investment grade'.[19] In June 2011, the company dual listed on the London Stock Exchange.[20] Since December 2010, DP World has undertaken a series of asset disposals, exiting markets where it does not have a significant presence and seeking to redeploy funds in fast-growing markets.[21]

Corporate Affairs

Supply Chain Security

DP World has been certified as a partner in the Customs-Trade Partnership Against Terrorism (C‑TPAT) initiative by U.S. Customs and Border Patrol - to date, the only international port operator to have achieved this recognition. This certification is primarily based on DP World's commitment to the independently audited international ISO 28000 security standards. DP World was the first global maritime terminal operator to achieve ISO 28000 supply chain security certification and is rolling out the standard to all its terminals[22][23]

Counter Piracy

In June 2012, in partnership with the UAE Ministry of Foreign Affairs, DP World convened the second high-level, public-private counterpiracy conference, in Dubai.[24] The Washington Post reported "Diplomats and business leaders...are pushing for stronger partnerships between the public and private sectors in combating piracy off the coast of Somalia".[25]

The April 2011 conference was the first time companies rather than governments had contributed financial support to the UN counter-piracy trust fund.[26] The inaugural conference was attended by more than 65 governments and representatives of international organisations, including the United Nations[27] and more than 120 leaders from maritime industry related companies.

Sponsorships

DP World sponsor the newly re-titled DP World Tour Championship, Dubai, played at Jumeirah Golf Estates.[28] For the first three editions of the tournament previously known as "The Dubai World Championship", DP World had been a presenting sponsor. DP World also support the Hong Kong Open, the penultimate event on The Race to Dubai and the BMW PGA Championship at Wentworth Club.

Location of DP World's operations

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Qingdao Qianwan Container Terminal
Qingdao New Qianwan Container Terminal
Qingdao Qianwan United Container Terminal
Qingdao Qianwan United Advance Container Terminal
Tianjin Orient Container Terminal
DP World Yantai
DP World Hong Kong
Terminal Petikemas Surabaya
ATI Batangas
Port of Manila - South Harbor (MNS)
Pusan Newport Company
Laem Chabang International Terminal (LCIT)
Saigon Premier Container Terminal (SPCT)
DP World Chennai
DP World Cochin
DP World Kulpi
Mundra International Container Terminal MICT
DP World Nhava Sheva
Visakha Container Terminal
DP World Karachi
Terminales Rio de la Plata
Empresa Brasileira de Terminais Portuários (EMBRAPORT)
DP World Vancouver - Stevedoring Division
DP World Vancouver - Container Division
DP World Nanaimo
DP World Caucedo
DP World Callao
DP World Paramaribo
DP World Paramaribo
DP World Brisbane
DP World Fremantle
DP World Melbourne
DP World Sydney
DP World Djazair
DP World Djen Djen
Port Autonome International de Djibouti PAID
Doraleh Container Terminal (DCT)
Maputo Intermodal Container Deport (MICD)
DP World Cargo Services Mozambique
DP World Maputo
DP World Dakar - Terminal à Conteneur
DP World Cargo Services - Cape Town
DP World Cargo Services - Durban
DP World Cargo Services - Port Elizabeth
DP World Cargo Services - Richards Bay
DP World Dakar - Port du Futur
Antwerp Gateway
DP World Antwerp - Delwaide
Beverdonk Container Terminal
EUROFOS
FOS 2xL
Terminal de France
Quai des Amériques
Quai de l'Europe
DP World Germersheim
Rotterdam World Gateway
DP World Constanta
DP World Tarragona
DP World Yarimca
DP World London Gateway
DP World Southampton
DP World Sokhna
DP World Sokhna (new development)
DP World Jeddah
Al Hamriya Port
Port Rashid
DP World Jebel Ali - Terminal 1
DP World Jebel Ali - Terminal 2
DP World Jebel Ali Terminal 3
DP World Fujairah
DP World's Portfolio - as of 26th October 2012

Red pog.svg Container Terminals
Yellow pog.svg Non-Container Terminals
Green pog.svg New Developments and Major Expansions

DP World operate more than 60 terminals across six continents, with container handling generating around 80% of its revenue. In addition, the company has 11 new developments and major expansions underway in 10 countries.

The company employs more than 30,000 people and is headquartered in Dubai, UAE.

The table below lists current terminals and new developments managed by DP World.

Operation Location and
Coordinates
Region Berths
(no.)
Depth Alongside
(m)
Terminal Area
(ha)
Local Website
Qingdao Qianwan Container Terminal (QQCT)[29]

Red pog.svg Container terminal

www.qqct.com.cn

Qingdao New Qianwan Container Terminal (QQCTN)[30]

Red pog.svg Container terminal

www.qqct.com.cn

Qingdao Qianwan United Container Terminal (QQCTU)[32]

Green pog.svg New Development / Major Expansion

www.qqct.com.cn

Qingdao Qianwan United Advance Container Terminal (QQCTUA)[29]

Green pog.svg New Development / Major Expansion

www.qqctua.com

Tianjin Orient Container Terminal (TOCT)[34]

Red pog.svg Container terminal

www.toct.com.cn

DP World Yantai[35]

Red pog.svg Container terminal

www.dpwyt.com

DP World Hong Kong[36]

Red pog.svg Container terminal

www.dpworld.hk

Terminal Petikemas Surabaya (TPS)[37]

Red pog.svg Container terminal

www.tps.co.id

ATI Batangas (Phase 2)[38]

Red pog.svg Container terminal

www.asianterminals.com.ph

Asian Terminals Incorporated (ATI)
Port of Manila South Harbor (MNS)[38]

Red pog.svg Container terminal

www.asianterminals.com.ph

Pusan Newport Company (PNC)[39]

Red pog.svg Container terminal

www.pncport.com

Laem Chabang International Terminal (LCIT)[40]

Red pog.svg Container terminal

www.lcit.com

Saigon Premier Container Terminal (SPCT)[41]

Red pog.svg Container terminal

www.spct.vn

DP World Chennai[42]
Chennai Container Terminal (CCT)

Red pog.svg Container terminal

www.dpworldchennai.com

DP World Cochin[43]
International Container Transshipment Terminal (ICTT)

Red pog.svg Container terminal

www.dpworldcochin.com

DP World Kulpi (tbc)[44]

Green pog.svg New Development / Major Expansion

www.dpworld.com

Mundra International Container Terminal (MICT)[45]

Red pog.svg Container terminal

www.mict.poports.com

DP World Nhava Sheva[46]

Red pog.svg Container terminal

www.dpworldmumbai.com

Visakha Container Terminal (VCTPL)[47]

Red pog.svg Container terminal

www.vctpl.com

DP World Karachi[48]

Red pog.svg Container terminal

www.dpworldkarachi.com

Terminales Rio de la Plata[49]

Red pog.svg Container terminal

www.trp.com.ar

Empresa Brasileira de Terminais Portuários (EMBRAPORT)[50]

Green pog.svg New Development / Major Expansion

www.terminalembraport.com.br

DP World Nanaimo[52]

Red pog.svg Container terminal

www.dpworld.ca

DP World Vancouver[53] Container Terminal Division

Red pog.svg Container terminal

www.dpworld.ca

DP World Vancouver[53] Stevedoring Division

Yellow pog.svg Non-container terminal operation

www.dpworld.ca

DP World Caucedo[54]

Red pog.svg Container terminal

www.caucedo.com

DP World Callao[55]

Red pog.svg Container terminal

www.dpworldcallao.com.pe

DP World Paramaribo[56]
Integra Port Services (IPS)

Red pog.svg Container terminal

www.dpworld-paramaribo.com

DP World Paramaribo[56]
Suriname Port Services (SPS)

Red pog.svg Container terminal

www.dpworld-paramaribo.com

DP World Brisbane[58]

Red pog.svg Container terminal

www.dpworld.com

DP World Fremantle[59]

Red pog.svg Container terminal

www.dpworld.com

DP World Melbourne[60]

Red pog.svg Container terminal

www.dpworld.com

DP World Sydney[61]

Red pog.svg Container terminal

www.dpworld.com

DP World Djazair[62]

Red pog.svg Container terminal

www.dpworld.com

DP World Djen Djen[63]

Red pog.svg Container terminal

www.djendjen-port.com

Port Autonome International de Djibouti (PAID)[64]

Red pog.svg Container terminal

www.dpworld.com

Doraleh Container Terminal (DCT)[65]

Red pog.svg Container terminal

www.dpworld-doraleh.com

DP World Maputo[66]

Red pog.svg Container terminal

www.portmaputo.com

DP World Maputo[66]
Intermodal Container Depot (MICD)

Yellow pog.svg Non-container terminal operation

www.portmaputo.com

DP World Cargo Services Mozambique (DPWCS)[66]

Yellow pog.svg Non-container terminal operation

www.portmaputo.com

DP World Dakar[67] Terminal à Conteneur

Red pog.svg Container terminal

www.dpworld.sn

DP World Dakar[68] Port du Futur

Green pog.svg New Development / Major Expansion

www.dpworld.sn

DP World Cargo Services[70] Cape Town

Yellow pog.svg Non-container terminal operation

www.dpwcs.co.za

DP World Cargo Services[70] Head Office

Yellow pog.svg Non-container terminal operation

www.dpwcs.co.za

DP World Cargo Services[70] Port Elizabeth

Yellow pog.svg Non-container terminal operation

www.dpwcs.co.za

DP World Cargo Services[70] Richards Bay

Yellow pog.svg Non-container terminal operation

www.dpwcs.co.za

DP World Antwerp
Antwerp Gateway (Deurganck Dock)[71]

Red pog.svg Container terminal

www.antwerpgateway.be

DP World Antwerp[72] Delwaide Dock

Red pog.svg Container terminal

www.dpworld.be

DP World Intermodal[73]
Beverdonk Container Terminal (BCT)

Red pog.svg Container terminal

intermodal.dpworld.be

Eurofos SA[74]

Red pog.svg Container terminal

www.eurofos.fr

FOS 2xL[75]

Green pog.svg New Development / Major Expansion

www.eurofos.fr

Générale de Manutention Portuaire (GMP)[76]
Terminal de France (TDF)[77]

Red pog.svg Container terminal

www.gmportuaire.fr

Générale de Manutention Portuaire (GMP)[76]
Quai des Amériques[78]

Red pog.svg Container terminal

www.gmportuaire.fr

Générale de Manutention Portuaire (GMP)[76]
Quai de l'Europe[79]

Red pog.svg Container terminal

www.gmportuaire.fr

DP World Germersheim[80]

Red pog.svg Container terminal

www.dpworld.com

Rotterdam World Gateway[81]

Green pog.svg New Development / Major Expansion

www.rotterdamworldgateway.nl

DP World Constanta[82]

Red pog.svg Container terminal

www.dpworld.ro

DP World Tarragona[83]

Red pog.svg Container terminal

www.dpworldtarragona.com

DP World Yarimca[84]

Green pog.svg New Development / Major Expansion

www.dpworld.com.tr

DP World London Gateway[85]

Green pog.svg New Development / Major Expansion

www.londongateway.com

DP World Southampton[86]

Red pog.svg Container terminal

www.dpworldsouthampton.com

DP World Sokhna[87]

Red pog.svg Container terminal

www.dpworldsokhna.com

DP World Sokhna[88]

Green pog.svg New Development / Major Expansion

www.dpworldsokhna.com

DP World Jeddah[89]

Red pog.svg Container terminal

www.dpworldmejed.com.sa

Al Hamriya Port[90]

Yellow pog.svg Non-container terminal operation

www.dpworld.ae

Port Rashid[91]

Yellow pog.svg Non-container terminal operation

www.dpworld.ae

DP World Jebel Ali[92] Terminal 1

Red pog.svg Container terminal

www.dpworld.ae

DP World Jebel Ali[93] Terminal 2

Green pog.svg New Development / Major Expansion

www.dpworld.ae

DP World Jebel Ali[95] Terminal 3

Green pog.svg New Development / Major Expansion

www.dpworld.ae

DP World Fujairah[96]

Red pog.svg Container terminal

www.dpworld.ae

References

External links

  • DP World - Global
  • BBC story on takeover of P&O
  • Republican Congresswoman Sue Myrick's letter to President Bush regarding the DP World ports purchase
  • SourceWatch article on DP World
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