Thursday, June 8, 2017

DP World Continues Expansion of Maritime Services with Purchase of Spanish Company

Over 150 Vessels Added to Group Portfolio
Shipping News Feature
SPAIN – DUBAI – With its latest acquisition the DP World group continues its expansion after fully owned subsidiary P&O Maritime announced today it has acquired Spanish maritime services provider Reyser (Remolques y Servicios Maritimos, S.L.). The purchase sees DP gain long term agreements in 10 ports in Spain and contracts with 2 international Liquefied Natural Gas (LNG) terminals at Saint John, New Brunswick in Canada and Point Fortin in Trinidad and Tobago. Services provided include harbour towage, mooring, bunkering, diving and environmental support.

Formed over 50 years ago, Reyser owns 151 vessels including 20 Tug boats, 53 mooring boats, 5 bunkering vessels and 73 ships conducting environmental work. P&O takes over as owner, subject to the usual regulatory approvals, from corporate group Bergé y Cía, S.A which began life in the 19th Century as stevedores and ships agents but which has diversified in the past few decades into other sectors such as energy and finance. Speaking of the deal Rado Antolovic, Managing Director of P&O Maritime, commented:

“This is a landmark deal in our more than 50-year history, underling our global intentions to provide maritime services across diverse markets around the world. The acquisition allows us to consolidate our market position in Spain while securing entry in new geographies and markets, offering significant scope to diversify and grow our business. We are confident about the medium-to long term growth potential of this business and our ability to drive sustainable value for all stakeholders.”

For ultimate owners DP World the deal means further diversification, particularly as an energy supply factor is built in to the arrangement, and Group Chairman and CEO, Sultan Ahmed Bin Sulayem was clearly pleased with the latest addition, observing:

“We are delighted to make this acquisition which underlines the further development of the Group’s maritime services business. As a global trade enabler we have been developing it globally spearheaded by the world renowned P&O Maritime brand to complement our core business of ports and terminals. This is all part of our broader strategy to grow complementary sectors in the global supply chain such as industrial parks, free zones and logistics supported by new technologies adding value for all our stakeholders.”

Photo: Officials from P&O Maritime and Bergé y Cía at the signing of the agreement for the acquisition of Reyser (Remolques y Servicios Maritimos, S.L.), in Spain.