Filter content by area of interest
Ports & Terminals
Port AuthoritiesContainerBulkBreakbulk/General CargoRo-Ro/AutomotiveGTOs
Cargo Handling Equipment
STS CranesYard CranesMobile CHERo-Ro EquipmentBreakbulk EquipmentLow ThroughputBulk Handling Equipment
Shipping & Logistics
Container ShippingBreakbulk/General CargoRo-Ro ShippingDry Bulk ShippingLiquid cargoesLogistics
ICT
TOSPlanning & Optimisation TechnologyWiFiMobile ComputingPort Community SystemsAsset Tracking & Monitoring
Automation
Automated EquipmentGate AutomationRemote ControlProcess Automation
Multimodal
RailInland WaterwaysShortsea ShippingRoadAir-Cargo
Container Industry
Container manufactureContainer leasingRepair/StorageTradingConversion/Innovation
Refrigeration
Operations/TransportContainer leasingEquipmentM&R/Storage
Breakbulk
General cargoProject Cargo/Heavy LiftForest productsRo-Ro/AutomotiveAgribulks
Safety & Security
InsuranceHazardous cargoLashings/SecuringLegal/Regulatory
Civil Engineering
Port & terminal construction/designCivil & Consulting EngineersDredging & ReclamationMooring & FenderingLightingPaving & Surfacing
Environment
Business
InsuranceLegal/RegulatoryAppointments/PeopleMergers/Acquisitions/RestructuringFinance/Financial ResultsTrade & Professional AssociationsBusiness/Commerce Miscellaneous
 View all Topics View all Topics A-Z
More View all Topics View all Topics A-Z

You are viewing 1 of your 1 guest articles


register  or  login  for full access to online news

DP World quits Aden

DP World has reached an agreement with Yemeni parties to divest its entire interest in Dubai and Aden Ports Corporation (DAPC) to Yemen Gulf of Aden Ports Corporation (YGAPC).
Linked InTwitterFacebook

Under the agreement, DP World will cease its management of Aden Container Terminal (ACT) and Ma’alla Container Terminal at the Port of Aden with immediate effect and Aden Port Development Company (APDC), a wholly owned subsidiary of YGAPC, will take full responsibility for the port’s operations.

The move follows claims earlier this year by Yemeni Transport Minister Waed Abdullah Bathib, as well as the country’s anti-corruption body, that DP World had not fulfilled its contractual obligations under the 30-year management contract signed in 2008, which DP World rejected at the time as unfounded.

“We are pleased to have reached an agreement with DP World on an amicable basis after due deliberation. The agreement protects the interests of the Republic of Yemen and YGAPC and secures the future for this strategically located terminal. It provides stability and an excellent base from which to boost the national economy,” YGAPC said in a statement.

DP World added: “We are very satisfied with the agreement we have reached with the Yemeni parties including YGAPC, our joint venture partner. The agreement reached protects the interests of DP World, its partners and the Yemeni parties who will run and operate a terminal boosted by two new Liebherr superpost-Panamax quay cranes.

“We believe that the work we have started will go a long way in further supporting the facility’s position.”

In a separate move, DP World has sold its 60% shareholding DP World Breakbulk NV and AProjects NV in Belgium to Orienta NV for US$61.0M.

“This sale forms part of a restructure of our businesses in Antwerp and will allow us to strategically focus on our expertise in container terminal management and technical capability in which we have extensive experience,” said Rob Harrison, managing director of DP World’s businesses in Belgium.

The transaction was signed on 19 September and will finalise before the end of 2012.

Linked InTwitterFacebookeCard

You may also be interested in...

Optimisation for SAGT

Optimisation for SAGT

Damen completes first Sendo Liner build

Bertram Rickmers launches feeder shipping company

Capespan sets up firm focussed on logistics

BigLift and CY link up

RCL expands network

Related Stories

Forth Ports rolls out Reactec HVAS monitoring across all its ports

Forth Ports Ltd has rolled out Reactec’s innovative wearable system to monitor t...

Maritime commits more to Tilbury

Maritime Transport Ltd (Maritime) has opened a new rail-connected distribution t...

More logistics investments for Dunkirk

SFAN (Société Foncière Axe Nord) is to build a 42,000 m2 warehouse and a high ba...

Halifax and Quebec on the infrastructure trail

Halifax is getting a new rail link between is box terminals, while Hutchison Por...
Linked In
Twitter