DP World wins again and legal costs rack up for Djibouti and China Merchants
The republic of Djibouti is running up a significant legal bill; DP World has won ...
The shape of DP World’s intended integrated logistics portfolio became clearer today with the signing of a common carrier agreement between the parent company at its land freight subsidiary, P&O Ferrymasters.
Covering India-Europe trade, the agreement will see DP World India and P&O Ferrymasters provide shippers with “comprehensive turnkey solutions to move their goods between India and Europe”.
The company said: “This integrated offering will solve complex logistics challenges for customers using seamless combinations of DP World’s global maritime and logistics footprint and P&O’s expanding pan-European network of warehouses and integrated road, rail and sea links.”
It added that the agreement was likely to be the first of several between the multimodal transport operator and DP World’s global network of terminals.
Mike Bhaskaran, chief operating officer – logistics and technology at DP World, said: “Our mission is to ensure the smooth and efficient flow of our customers’ goods and resources across the world.
“These agreements will achieve this by integrating P&O Ferrymasters’ expansive European logistics network with DP World’s global web of trade enabling businesses, from ports and terminals, to industrial parks, logistics and economic zones, to maritime services.”
P&O Ferrymasters MD Thorsten Runge added: “Supply chains are becoming ever more global, crossing more borders and traversing more jurisdictions.
“The rollout of these exciting new agreements across the world means we can seamlessly access DP World’s global footprint of port facilities and logistics and maritime operations, to simplify the challenges our customers face when moving their goods between Europe and the rest of the world.
“By joining forces, two of the world’s foremost providers of logistics solutions can offer new comprehensive services with global reach to our customers and convey considerable benefits in speed, reliability, efficiency and transparency,” he said.
In August, DP World’s feeder shipping line subsidiary, Unifeeder, boosted its presence in the Indian market bu buying Indian feeder operator Transworld Feeders and Avana Global, which together handle around 1.2m teu a year.
Unifeeder had been acquired by DP World in 2018 for $764m, while the acquisition of P&O Ferrymasters was completed in February 2019.
As with much of the industry, DP World’s port network posted a recovery in the third quarter. According to its latest handling figures, it saw a combined throughput of 18.3m teu across its portfolio during the period, a 3.1% year-on-year increase. On a nine-month basis, DP World handled 52.2m, down 2.5% on 2019.