DP World

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

DP World
موانئ دبي العالمية
Dual-listed company
Traded as NASDAQ DubaiDPW
Industry Maritime
Founded 2005
Headquarters Dubai, United Arab Emirates
Key people
Sultan Ahmed bin Sulayem, Group Chairman and CEO
Jamal Majid Bin Thaniah, Vice Chairman
Yuvraj Narayan, Group CFO
Products Ferries, port services, logistics services
Revenue Increase $3,121 million[1] USD
Number of employees
37,000
Website http://web.dpworld.com

DP World (Arabic: موانئ دبي العالمية‎) operates multiple related businesses – from marine and inland terminals, maritime services, logistics and ancillary services to technology-driven trade solutions.

DP World has a portfolio of 77 operating marine and inland terminals supported by over 50 related businesses in 40 countries across six continents with a significant presence in both high-growth and mature markets.[citation needed]

Container handling is the company's core business and generates more than three quarters of its revenue. In 2015, DP World handled 61.7 million TEU (twenty-foot equivalent units).

The company was founded in 2005 by merging Dubai Ports Authority and Dubai Ports International (which had been founded in 1999). It purchased P&O Group 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 of U.S. ports led to high-level controversy.

History[edit]

Early History[edit]

Dubai Ports International (DPI) was founded in 1999.[2] 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.[2] In January 2005, DPI acquired CSX World Terminals (CSX WT).[3] It was later, in September 2005 that Dubai Ports International officially merged with the Dubai Ports Authority (DPA) to form DP World.[4] 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[edit]

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."[5] 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".[6]

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.[7] DP World later sold P&O's American operations to American International Group's asset management division, Global Investment Group for an undisclosed sum.[8]

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.[9] DP World had been favourite to win the Gwadar concession, but withdrew from the bidding.[10] Gwadar Port was subsequently awarded to PSA (Port of Singapore Authority) and opened in March 2007.[11]

2007-2010: NASDAQ Dubai listing[edit]

In June 2007 the company raised $3.25 billion in Islamic and conventional bond sales to refinance existing debt and fund expansion[12] 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.[13]

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.[2]

In December 2009 Moody's downgraded DP World's financial status to junk after the Dubai 2009 debt standstill.[14]

2010 – present[edit]

In the second quarter of 2010 DP World gave the go-ahead for construction of the £1.5 billion London Gateway port.[15][16] Work started in February 2010[17] 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'.[18] 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.[19]

Corporate Affairs[edit]

Supply Chain Security[edit]

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[20][21]

Counter Piracy[edit]

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.[22] 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".[23]

The April 2011 conference was the first time companies rather than governments had contributed financial support to the UN counter-piracy trust fund.[24] The inaugural conference was attended by more than 65 governments and representatives of international organisations, including the United Nations[25] and more than 120 leaders from maritime industry related companies.

Sponsorships[edit]

DP World sponsor the newly re-titled DP World Tour Championship, Dubai, played at Jumeirah Golf Estates.[26] For the first three editions of the tournament previously known as "The Dubai World Championship", DP World had been a presenting sp

onsor. 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[edit]

DP World's Portfolio - as of 01 March 2017
Qingdao Qianwan Container Terminal
Qingdao Qianwan Container Terminal
Qingdao New Qianwan Container Terminal
Qingdao New Qianwan Container Terminal
Qingdao Qianwan United Container Terminal
Qingdao Qianwan United Container Terminal
Qingdao Qianwan United Advance Container Terminal
Qingdao Qianwan United Advance Container Terminal
Tianjin Orient Container Terminal
Tianjin Orient Container Terminal
Yantai International Container Terminal
Yantai International Container Terminal
DP World Hong Kong
DP World Hong Kong
Terminal Petikemas Surabaya
Terminal Petikemas Surabaya
ATI Batangas
ATI Batangas
Port of Manila - South Harbor (MNS)
Port of Manila - South Harbor (MNS)
Pusan Newport Company
Pusan Newport Company
Laem Chabang International Terminal (LCIT)
Laem Chabang International Terminal (LCIT)
Saigon Premier Container Terminal (SPCT)
Saigon Premier Container Terminal (SPCT)
DP World Chennai
DP World Chennai
DP World Cochin
DP World Cochin
DP World Kulpi
DP World Kulpi
Mundra International Container Terminal MICT
Mundra International Container Terminal MICT
DP World Nhava Sheva
DP World Nhava Sheva
Visakha Container Terminal
Visakha Container Terminal
DP World Karachi
DP World Karachi
Terminales Rio de la Plata
Terminales Rio de la Plata
Empresa Brasileira de Terminais Portuários (EMBRAPORT)
Empresa Brasileira de Terminais Portuários (EMBRAPORT)
DP World Vancouver - Stevedoring Division
DP World Vancouver - Stevedoring Division
DP World Vancouver - Container Division
DP World Vancouver - Container Division
DP World Nanaimo
DP World Nanaimo
DP World Caucedo
DP World Caucedo
DP World Callao
DP World Callao
DP World Paramaribo
DP World Paramaribo
DP World Paramaribo
DP World Paramaribo
DP World Brisbane
DP World Brisbane
DP World Fremantle
DP World Fremantle
DP World Melbourne
DP World Melbourne
DP World Sydney
DP World Sydney
DP World Djazair
DP World Djazair
DP World Djen Djen
DP World Djen Djen
Port Autonome International de Djibouti PAID
Port Autonome International de Djibouti PAID
Doraleh Container Terminal (DCT)
Doraleh Container Terminal (DCT)
Maputo Intermodal Container Deport (MICD)
Maputo Intermodal Container Deport (MICD)
DP World Cargo Services Mozambique
DP World Cargo Services Mozambique
DP World Maputo
DP World Maputo
DP World Dakar - Terminal à Conteneur
DP World Dakar - Terminal à Conteneur
DP World Cargo Services - Cape Town
DP World Cargo Services - Cape Town
DP World Cargo Services - Durban
DP World Cargo Services - Durban
DP World Cargo Services - Port Elizabeth
DP World Cargo Services - Port Elizabeth
DP World Cargo Services - Richards Bay
DP World Cargo Services - Richards Bay
DP World Dakar - Port du Futur
DP World Dakar - Port du Futur
Antwerp Gateway
Antwerp Gateway
DP World Antwerp - Delwaide
DP World Antwerp - Delwaide
Beverdonk Container Terminal
Beverdonk Container Terminal
EUROFOS
EUROFOS
FOS 2xL
FOS 2xL
Terminal de France
Terminal de France
Quai des Amériques
Quai des Amériques
Quai de l'Europe
Quai de l'Europe
DP World Germersheim
DP World Germersheim
Rotterdam World Gateway
Rotterdam World Gateway
DP World Constanta
DP World Constanta
DP World Tarragona
DP World Tarragona
DP World Yarimca
DP World Yarimca
DP World London Gateway
DP World London Gateway
DP World Southampton
DP World Southampton
DP World Sokhna
DP World Sokhna
DP World Sokhna (new development)
DP World Sokhna (new development)
DP World Jeddah
DP World Jeddah
DP World Berbera
DP World Berbera
DP World Prince Rupert Inc
DP World Prince Rupert Inc
Al Hamriya Port
Al Hamriya Port
Port Rashid
Port Rashid
DP World Jebel Ali - Terminal 1
DP World Jebel Ali - Terminal 1
DP World Jebel Ali - Terminal 2
DP World Jebel Ali - Terminal 2
DP World Jebel Ali Terminal 3
DP World Jebel Ali Terminal 3
DP World Fujairah
DP World Fujairah
DP World's Portfolio - as of 01 March 2017

Red pog.svg Container Terminals
Yellow pog.svg Non-Container Terminals

Green pog.svg New Developments and Major Expansions

DP World has a portfolio of 77 operating marine and inland terminals supported by over 50 related businesses in 40 countries across six continents with a significant presence in both high-growth and mature markets.

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

Port City Country Type
DP World Hong Kong Hong Kong  Hong Kong Container Terminal
Terminal Petikemas Surabaya Surabaya  Indonesia Container Terminal
ATI Batangas Batangas  Philippines Container Terminal
Port of Manila - South Harbor (MNS) Manila  Philippines Container Terminal
Pusan Newport Company Pusan  South Korea Container Terminal
Laem Chabang International Terminal (LCIT) Laem Chabang  Thailand Container Terminal
Saigon Premier Container Terminal (SPCT) Ho Chi Minh City  Vietnam Container Terminal
DP World Chennai Chennai  India Container Terminal
DP World Cochin Kochi  India Container Terminal
DP World Kulpi Kulpi  India New Development and Major Expansion
Mundra International Container Terminal MICT Mundra  India Container Terminal
DP World Nhava Sheva Nhava Sheva  India Container Terminal
Visakha Container Terminal Visakhapatnam  India Container Terminal
Qingdao Qianwan Container Terminal Qingdao  China Container Terminal
Qingdao New Qianwan Container Terminal Qingdao  China Container Terminal
Qingdao Qianwan United Container Terminal Qingdao  China New Development and Major Expansion
Qingdao Qianwan United Advance Container Terminal Qingdao  China New Development and Major Expansion
Tianjin Orient Container Terminal Tianjin  China Container Terminal
Yantai International Container Terminal Yantai  China Container Terminal
DP World Karachi Karachi  Pakistan Container Terminal
Terminales Rio de la Plata Buenos Aires  Argentina Container Terminal
Empresa Brasileira de Terminais Portuários (EMBRAPORT) Santos  Brazil New Development and Major Expansion
DP World Vancouver - Stevedoring Division Vancouver  Canada Non-Container Terminal
DP World Vancouver - Container Division Vancouver  Canada Container Terminal
DP World Nanaimo Nanaimo  Canada Container Terminal
DP World Caucedo Caucedo  Dominican Republic Container Terminal
DP World Callao Callao  Peru Container Terminal
DP World Paramaribo Paramaribo  Suriname Non-Container Terminal
DP World Paramaribo Paramaribo  Suriname Container Terminal
DP World Brisbane Brisbane  Australia Container Terminal
DP World Fremantle Fremantle  Australia Container Terminal
DP World Melbourne Melbourne  Australia Container Terminal
DP World Sydney Sydney  Australia Container Terminal
DP World Djazair Algiers  Algeria Container Terminal
DP World Djen Djen Djen Djen  Algeria Container Terminal
Port Autonome International de Djibouti PAID Djibouti  Djibouti Container Terminal
Doraleh Container Terminal (DCT) Doraleh  Djibouti Container Terminal
Maputo Intermodal Container Deport (MICD) Maputo  Mozambique Non-Container Terminal
DP World Cargo Services Mozambique Maputo  Mozambique Non-Container Terminal
DP World Maputo Maputo  Mozambique Container Terminal
DP World Dakar - Terminal à Conteneur Dakar  Senegal Container Terminal
DP World Cargo Services - Cape Town Cape Town  South Africa Non-Container Terminal
DP World Cargo Services - Durban Durban  South Africa Non-Container Terminal
DP World Cargo Services - Port Elizabeth Port Elizabeth  South Africa Non-Container Terminal
DP World Cargo Services - Richards Bay Richards Bay  South Africa Non-Container Terminal
DP World Dakar - Port du Futur Dakar  Senegal New Development and Major Expansion
Antwerp Gateway Antwerp  Belgium Container Terminal
DP World Antwerp - Delwaide Antwerp  Belgium Container Terminal
Beverdonk Container Terminal Antwerp  Belgium Container Terminal
EUROFOS Fos  France Container Terminal
FOS 2xL Fos  France New Development and Major Expansion
Terminal de France Le Havre  France Container Terminal
Quai des Amériques Le Havre  France Container Terminal
Quai de l'Europe Le Havre  France Container Terminal
DP World Germersheim Germersheim  Germany Container Terminal
Rotterdam World Gateway Rotterdam  Netherlands New Development and Major Expansion
DP World Constanta Constanta  Romania Container Terminal
DP World Tarragona Tarragona  Spain Container Terminal
DP World Yarimca Yarimca  Turkey New Development and Major Expansion
DP World London Gateway Stanford-le-Hope  United Kingdom New Development and Major Expansion
DP World Southampton Southampton  United Kingdom Container Terminal
DP World Sokhna Sokhna  Egypt Container Terminal
DP World Sokhna (new development) Sokhna  Egypt New Development and Major Expansion
DP World Jeddah Jeddah  Saudi Arabia Container Terminal
DP World Berbera Berbera  Somaliland New Development and Major Expansion
DP World Prince Rupert Inc Prince Rupert  Canada New Development and Major Expansion
Al Hamriya Port Dubai  United Arab Emirates Non-Container Terminal
Port Rashid Dubai  United Arab Emirates Container Terminal
DP World Jebel Ali - Terminal 1 Dubai  United Arab Emirates Container Terminal
DP World Jebel Ali - Terminal 2 Dubai  United Arab Emirates New Development and Major Expansion
DP World Jebel Ali - Terminal 3 Dubai  United Arab Emirates New Development and Major Expansion
DP World Fujairah Fujairah  United Arab Emirates Container Terminal

References[edit]

  1. ^ "DP WORLD LIMITED ANNOUNCES STRONG FINANCIAL RESULTS". London Stock Exchange. Archived from the original on 2013-08-04. Retrieved 2013-03-20. 
  2. ^ a b c "About DP World - History". Archived from the original on 5 November 2012. Retrieved 2012-11-27. 
  3. ^ International, CSX Corporation; Dubai Ports. "Dubai Ports International Completes Acquisition Of CSX World Terminals". www.prnewswire.com. Retrieved 13 November 2017. 
  4. ^ "Dubai merger sees world's largest port operation". 29 September 2005. Retrieved 13 November 2017. 
  5. ^ "Bush threatens veto in ports row". BBC News. 2006-02-22. Retrieved 2010-05-01. 
  6. ^ Sale of P&O Ports North America[permanent dead link]
  7. ^ "H.R. 4939 (109th): Emergency Supplemental Appropriations Act for Defense, the ... -- House Vote #65 -- Mar 16, 2006". GovTrack.us. Retrieved 13 November 2017. 
  8. ^ King Jr., N.; Hitt, G. (2006-12-11). "Dubai Ports World Sells U.S. Assets". The Wall Street Journal. 
  9. ^ "DP World to invest on new terminal in Pakistan" (PDF). Retrieved 2012-03-21. [permanent dead link]
  10. ^ "PSA wins Gwadar". Retrieved 2012-03-21. 
  11. ^ "Pakistan launches strategic port". 20 March 2007. Retrieved 13 November 2017 – via news.bbc.co.uk. 
  12. ^ "DP World raises $3.25b from two bond issues". Gulf News. Retrieved 2009-12-09. 
  13. ^ "Investor Centre". DP World. Archived from the original on 7 August 2011. Retrieved 2009-12-08. 
  14. ^ Moya, Elena (2009-12-08). "Six Dubai companies downgraded to junk status". The Guardian. London. Retrieved 2009-12-08. 
  15. ^ Editorial, Reuters. "DP World to go ahead with London Gateway". Retrieved 13 November 2017. 
  16. ^ "Business & Technology - Dubai's port firm seeking stock listing in London - Seattle Times Newspaper". seattletimes.com. Retrieved 13 November 2017.  line feed character in |title= at position 74 (help)
  17. ^ "London Gateway port, Essex". Local Transport Today. Retrieved 2010-02-11. 
  18. ^ "Moody's upgrades DP World to Baa3; outlook stable". 11 April 2011. Retrieved 13 November 2017. 
  19. ^ "UPDATE 2-DP World sells Hong Kong assets for $742 mln". 7 March 2013. Retrieved 13 November 2017 – via Reuters. 
  20. ^ "DP World joins partnership against terrorism. - Free Online Library". www.thefreelibrary.com. Retrieved 13 November 2017. 
  21. ^ "WorldTribune.com: Mobile — Gulf firm is first international port operator to be certified for security by U.S". www.worldtribune.com. Retrieved 13 November 2017.  C1 control character in |title= at position 26 (help)
  22. ^ "2nd UAE Counter-Piracy Conference Renews Commitment To Public Private Partnership" (PDF). Retrieved 13 November 2017. 
  23. ^ "- The Washington Post". Washington Post. Retrieved 13 November 2017. 
  24. ^ Bloomberg Businessweek | Diplomats, businessmen urge tougher piracy fight | 19 April 2011 Archived 12 March 2016 at the Wayback Machine.
  25. ^ "Latest Statements - United Nations Secretary-General". www.un.org. Retrieved 13 November 2017. 
  26. ^ europeantour.com. "DP World enters three-year Race to Dubai agreement - European Tour". www.europeantour.com. Retrieved 13 November 2017. 

External links[edit]