DP World eyes 10 pct of globally traded goods

Dubai-based terminal operator DP World plans to acquire 10% of goods traded on global level by the end of the year, the company’s Chairman Sultan Ahmed bin Sulayem is quoted as saying by the Daily News Egypt.

As revealed by bin Sulayem during a media forum on ports held in Dubai last week, the company plans to attain this by trading 56 million containers in addition to entering into new markets in East and West Africa. These particularly relate to terminals in London and Australia, the newspaper said.

The company is also in talks with Egyptian partners on expansion in the Ain Sokhna Port. The expansion plans are, however, subject to attaining of 70% operating capacity, 20% more than the current level.

“DP World’s expansion in Egypt and its acquiring new projects next to the Ain Sokhna container port, as well as expanding its investments in Ain Sokhna Port itself, are related to the requirements of global navigation companies,” the Egyptian newspaper cited Bin Sulayem as explaining.

The terminal operator currently manages 65 container terminals on global scale.

DP World’s terminals across Australian ports have been targeted over the past few days by industrial action launched by the Australian Maritime Union (MUA) amid failure to reach a bargaining agreement with the company. Among reasons behind the industrial action, MUA also cited fears for job security and announced penalty rates stripping.

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