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Global trade enabler DP World deepened its engagement with revolutionary new technologies, diversified its global business portfolio through investments and acquisitions worth US $3 billion and extended meaningful support to environmental initiatives around the world during 2018; achieving strategic growth in diverse fields.
The headline projects were the launch of DP World Cargospeed with Virgin Hyperloop One and taking over leadership of the technology company, digital transformation of business operations across the global portfolio, the game changing high bay storage system for containers at Jebel Ali, the successful launch of a $3 billion investment platform in India, acquisition of complementary businesses in Europe, India and Peru, and container port development projects in Africa. DP World also successfully closed the 100% acquisition of Drydocks World LLC (Drydocks).
People development was the other key area of focus through association with the Erasmus University in Rotterdam, to develop a strategic skills development programme and the 20Xel programme to recruit the brightest of the UAE nationals for future leadership roles.
DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said: “2018 was a successful year and a period of strategic growth for DP World in diverse fields. We made major strides in our evolution into a company that focuses on smarter trade to make lives better through data driven logistics. Innovation, with an eye on future trade solutions and acquisitions designed to expand our global business footprint were key.
Our sustained interest in tomorrow’s trade enabling technologies saw us taking a leadership role in Virgin Hyperloop One, our partners in developing DP World Cargospeed, the high speed transport system that will revolutionise the way we do trade. Simultaneously, we ended the year by embracing an existing technology to deliver a quantum leap in container stacking and storage in our flagship Jebel Ali Port. On its successful completion, we plan to adopt it across our other terminals.”
Mr. Bin Sulayem added: “Our partnerships and acquisitions too gathered pace in a wide range of locations and sectors. The $3 billion investment platform in India with the government’s National Infrastructure Investment Fund (NIIF) saw us acquire Continental Warehousing Corporation (Nhava Sheva) Ltd. Complementary businesses were also added to our global portfolio in Peru and in Europe with the Unifeeder Group.
“Our activity in Africa gathered pace as we signed an agreement with the Suez Canal Economic Zone (SCZone) to implement the first phase of an integrated industrial and residential zone in Sokhna, Egypt. We will also soon build and operate a 1,000-hectare modern logistics hub outside of Bamako in the Republic of Mali. In the Democratic Republic of Congo, we announced a new concession for the management and development of a greenfield multi-purpose port at Banana, the first deep-sea port in the country along its small coastline of 37 kilometres.
Last but not least, Ethiopia became a shareholder of the Port of Berbera as we invest in infrastructure to develop the Berbera Corridor as a trade gateway for the landlocked nation, which is one of the fastest growing economies in the world. Construction began on the expansion works in Berbera and we look forward to helping the region develop its economic potential.
Elsewhere, our activities in Kazakhstan developed as we signed two framework agreements to run Special Economic Zones (SEZ) in Aktau and Khorgos which act as primary transit points for trans-Eurasian cargo trains. DP World acquired a 51% stake in the Khorgos SEZ and 49% in the Aktau SEZ, with both facilities playing an important role in enhancing trade connectivity along the New Silk Route.
In the Americas, we have agreed on terms for the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal on the Pacific Coast of Canada. In Europe, a new cruise passenger terminal at DP World Limassol opened providing world-class facilities and services for passengers.
The Chairman& CEO of DP World Group concluded: “Despite the challenging global economic uncertainties, we have experienced continued revenue growth by focusing on high value cargo, operational efficiencies and consistently delivering value to our customers through smart solutions. We are committed to continue to build on the gains of the past year as we enter 2019.”
Some of DP World’s headlines in 2018 included:
January:
Global trade enabler DP World and the National Investment And Infrastructure Fund (NIIF) partner to create a $3 billion platform for investments in ports, transportation and logistics sector in India. The equity will invest in acquiring assets and develop projects beyond seaports such as river logistics, freight corridors, ICDs and cold storage.
DP World embarked on a programme to drive digital transformation across its business operations worldwide using Oracle Cloud Applications (SaaS). The digital transformation programme supports the company’s strategy to develop complementary sectors in the global supply chain such as industrial parks, free zones and logistics to add value for all its stakeholders. The move supports its vision to become a digitised global trade enabler. As part of this new platform it will also incorporate technologies in Artificial Intelligence, Machine Learning, Internet Of Things (IOT) and Block Chain, to deliver smarter operations and create intelligent logistics to benefit customers.
February:
As part of its growing India story, DP World signs agreement with the Government of Jammu and Kashmir to explore opportunities to develop trade infrastructure in the Indian state. Projects under discussion include warehouses and specialised storage solutions that will encourage inter-modal transfer of containers, bulk and break-bulk cargo. Opening up the Indian hinterland through new infrastructure and facilities is one of the ways that the Indian economy will continue to grow.
DP World commenced arbitration proceedings against the Government of Djibouti at the London Court of International Arbitration following the illegal seizure of the Doraleh Container Terminal S.A. The Terminal was designed, built and successfully operated by DP World under a concession awarded in 2006. The state-of-the-art Terminal is the largest employer and biggest source of revenue in the country. It has operated at a profit every year since it opened.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World and Admiral Mohab Mamish, Chairman of the Suez Canal Authority and the Suez Canal Economic Zone (SCZone), signed an agreement to implement the first phase of development of an integrated industrial and residential zone in Sokhna. The joint venture between SCZone (51%) and DP World (49%) with DP World managing the zone, will result in the development a comprehensive industrial zone in Sokhna spanning 75 square kilometres, as well as increasing the capacity of Sokhna port and linking it to the industrial zone to fuel foreign investment and trade growth.
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