Revenue up 62% to $1.22 billion; net profit up 327% to $307 million; Awarded $975 million of EPC contracts
logistics operations
Latest in logistics operations
cargo operations
DP World’s spectacular performance and fiscal policies earns Moody’s upgrade
The credit rating agency praises DP World’s diversified global operations and how it reduced net debt to EBITDA below 4.0x
Abu Dhabi Ports
AD Ports, International Development Bank sign pact to explore opportunities for ports and logistics projects in Iraq
The MoU with IDB followed AD Ports Group signing a series of agreements to explore opportunities for the management and development of ports and logistics assets across Iraq
DP World
DP World’s growth numbers outperform industry average by 127%
CEO Bin Sulayem remains optimistic about company’s medium-to-long term future despite the headwinds of inflation and currency fluctuation
DP World
DP World adds new trade routes to open global markets, ease supply chain congestion
New routes opened this year include connections between India, Middle East, Africa, and new connections between Latin America, Europe and Asia
DP World
DP World to use metaverse technology to solve supply chain challenges and expand reach
Use of the technology will provide full visibility to take corrective actions in case of logistic bottlenecks
cargo operations
Saudi ports posts 14 percent jump in cargo handling to reach 212 million tonnes during Jan-August 2022
Passenger traffic during the period was up by 42.85 percent to reach 610,060 passengers
Dubai South
Maersk to double operations in UAE, signs deal to expand into Dubai South
Titled ‘Maersk Integrated Logistics Centre DWC’, the facility is 15,000 square metre (approximately 162,000 square feet) and will have a capacity to cater to 15,000 pallet positions and 10,000 bin locations
acquisitions
UAE-based Lyve acquires Jeebly to strengthen its e-commerce presence
Lyve sets to accelerate their growth across their cloud-based food platforms and services
Abu Dhabi economy
AD Ports Group, Uzbek oil and gas firm to develop logistics, freight and food trading infrastructure in Uzbekistan
The Abu Dhabi-based major has also announced opening the Group’s office in Uzbekistan, its first in the Central Asia region
Dubai carrier
Emirates expands cargo fleet with addition of a new Boeing 777-F
Emirates SkyCargo also announces an expansion in its cargo operations to China with an additional four freighter flights every week
DP World
India’s NIIF to acquire $300 million stake in DP World subsidiary
The transaction marks NIIF’s single largest investment, with the partnership expected to eventually amount to $500 million
Alsulaiman Group
Leading logistics platform Cartlow secures funding for regional expansion
The series A round was led by its strategic partner AlSulaiman Group, a Saudi Arabia based group with investments in omni-channel retail, logistics, and e-commerce
CDPQ
Dubai’s DP World, CDPQ announce $5bn investment in key UAE logistics assets
Global investment group will finance $2.5bn in Jebel Ali Port, Jebel Ali Free Zone and National Industries Park through joint venture
customer experience
Metaverse to help DP World offer immersive shopping, virtual training, reduce costs
DP World’s new metaverse – DPMETAWORLD – will go beyond social networks and entertainment to include education, trade, and government services
Digitisation
Four ways GCC nations can pivot from playing catch-up to being titans in the global logistics industry
Countries in the GCC region have fallen behind their global peers because of three major factors: the lack of modern and integrated infrastructure, insufficient service quality, and legacy processes, according to a Strategy& Middle East report
acquisitions
“Uncertain macro environment” contributes to softened volume growth for DP World in Q1 2022
DP World’s gross container volumes increased by 1.7 percent year-on-year on a reported basis and up 1.9 percent on a like-for-like basis