Photo: DP World

DP World to Invest $1bn in Expansion

By Aiswarya Lakshmi!!!

DP World is planning to annually inject up to $1 billion in global investments until 2020, local media quoted company chairman and CEO Sultan Ahmed Bin Sulayem as saying.

The expansion at Prince Rupert in Canada opened for business. DP World Limassol in Cyprus opened a new cruise terminal. A series of acquisitions, technology tie-ups and sustainable business achievements all formed part of the activities that saw the global trade enabler expand its business horizons across the world.
The global port operator has begun work on a new logistics centre in Kigali (Rwanda) and at a new terminal project in Posorja (Ecuador).
DP world said in a press release that growing global trade opportunities, diversifying its business across the supply chain and exploring smart innovation technologies were key elements of its activities during the year.
"The recovery of global trade in 2017 has been stronger than expected and we are pleased to have outperformed market growth once again. We are on course to deliver approximately 10% growth in gross volumes for 2017, and look forward to continued growth in 2018," said Sultan Ahmed Bin Sulayem.
The chairman stressed that DP World's large budget has enabled the company to make further investment and acquisitions, noting that the company was about to acquire Dubai Maritime City and Drydocks World in consideration of $180 million and $225 million, respectively.
Ibrahim (Ibo) Cördük (Photo: Dan-Bunkering)

Dan-Bunkering Promotes Cördük

A/S Dan-Bunkering Ltd. has announced the promotion of Ibrahim (Ibo) Cördük to Senior Bunker Trader effective January 9, 2018.   Cördük originally joined Dan-Bunkering’s

(File photo: Teekay Corporation)

Baltic Exchange to Develop LNG Freight Index

The Baltic Exchange is looking into launching a freight index for liquefied natural gas (LNG) and is working with leading ship brokers to explore potential shipping routes that

New vessels being built by Hyundai Mipo Dockyard will be used to cater to the growing demand for the import of essential grains into Saudi Arabia. Photo: Bahri Dry Bulk

Bahri Dry Bulk Secures Newbuild Finance

Bahri Dry Bulk, a business unit of global transportation and logistics leader Bahri, has announced that it has secured a Sharia-compliant funding of SAR 360 million (USD 96mln)

Photo: Kees Torn, Port of Rotterdam

More Vessels Call on Port of Rotterdam

Over the past year, 29,646 sea-going vessels entered the port of Rotterdam. This is over 600 more than the preceding year (29,022 sea-going vessels).    The number of incidents

 Dr Dirk Claus MD Port of Kiel. Photo: Port of Kiel

Record Numbers for the Port of Kiel

The Port of Kiel in Germany handled 7,407,376 tonnes of cargo in 2017 – a record that was 14.3% higher than the previous year.   "In 2017 Kiel again posted record handling while

Photo: TGP

Trans Global Projects Celebrates 30 Years

International logistics solutions provider Trans Global Projects Ltd (TGP) celebrates its 30th anniversary in 2018. TGP was founded on January 4, 1988 by Julian Clarke