Tag Archives: DP World

DP World Upgrading Eritrean Ports (Update)

“This Bloomberg report is inaccurate. There is NO contract between Eritrea and DP World to “upgrade, maintain Eritrean ports.” Eritrea is currently in discussions with a few potential partners.” – Gov’t official

Dubai based logistics operator, DP World, disclosed to Bloomberg that it is facilitating the replacement of important equipment in the port of Assab as per the request of the Eritrean gov’t. The Eritrean gov’t, however, rejects Bloomberg’s “contracting DP World to upgrade, maintain Eritrean ports” report as ‘inaccurate’.

BY TESFANEWS

Bloomberg business news today reported that the Eritrean government contracted DP World to upgrade and maintain the ports of Assab and Massawa as regional peace brings increased business to the its shores. Continue reading DP World Upgrading Eritrean Ports (Update)

Court Ordered Djibouti to Compensate DP World With $385m

Djibouti was dealt a heavy legal blow when a London Court of International Arbitration ordered it to pay $385 million in compensation to UAE global ports operator DP World over a breach of contract.

BY TESFANEWS 

A London Court of International Arbitration has ordered Djibouti government to pay $385 million plus interest in compensation to UAE global ports operator DP World for unilaterally breaching a 50-year concession contract over the Doraleh Container Terminal. Continue reading Court Ordered Djibouti to Compensate DP World With $385m

DP World Port Manager in Somalia’s Puntland State Assassinated

DP World has a 30-year deal to develop Bossasso port. (Photo: AFP)

BY BBC NEWS

Paul Anthony Formosa, who was the construction project manager for DP World, was killed near Bossasso port. Islamist militant group al-Shabab has said it carried out the attack. Continue reading DP World Port Manager in Somalia’s Puntland State Assassinated

Washington Wakes Up to East Africa’s Importance

Bringing the U.S. in from the Cold. Fears of growing Chinese and Russian influence in the region may have influenced Washington to suddenly shift its toxic policy against Eritrea, including reversing its opposition to the lifting of U.N. sanctions … as a prelude to improving its own bilateral ties with the country.

BY STRATFOR

The Horn of Africa is in the midst of profound change. From a summer peace deal between longtime enemies Ethiopia and Eritrea to multibillion-dollar infrastructure projects, the region is transforming, providing opportunities for outside powers to enhance their economic influence.  Continue reading Washington Wakes Up to East Africa’s Importance

Djibouti: DP World Sues China’s Merchants Port

The lawsuit was filed in the High Court of Hong Kong for unlawfully procuring and inducing the Republic of Djibouti to breach various agreements between the African country and DP World.

BY PAUL NYAKAREYA | FINANCIAL GAZETTE

United Arab Emirates’ DP World Limited and its subsidiaries have taken legal action against China for building an international free zone on a terminal being disputed with Djibouti.

The lawsuit was filed in the High Court of Hong Kong for unlawfully procuring and inducing the Republic of Djibouti to breach various agreements between the African country and DP World. Continue reading Djibouti: DP World Sues China’s Merchants Port

DP World Eyes Eritrea’s Assab and Massawa Ports after Djibouti Troubles

The Dubai-based harbor operator is evaluating its strategy and Eritrea could be key

“Eritrea’s strategic location near the Bab el-Mandeb Strait, a key shipping lane used by oil tankers & other cargo vessels en route to the Suez Canal, makes it an attractive investment destination.” – CEO, DP World

BY NIZAR MANEK | BLOOMBERG

The Red Sea state of Eritrea may play a key role in DP World Ltd.’s plans in the Horn of Africa, where a dozen ports could be needed to service the region, Chief Executive Officer Sultan Ahmed bin Sulayem said. Continue reading DP World Eyes Eritrea’s Assab and Massawa Ports after Djibouti Troubles