Wednesday, April 19, 2017

Management of Container Freight Terminal Transfers to Port Authority

Twelve Year Agreement Concluded
Shipping News Feature
UAE – Dubai based port operator DP World has reached an agreement with the Port of Fujairah to end the deal to operate the Fujairah Port concession. DP World entered into the agreement in 2005 on a build, operate and transfer basis (BOT) to expand and develop the Fujairah Container Terminal at the port for container handling and transhipment. Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO, commented on this change in what is the fifth largest of the United Arab Emirates, saying:

“For over a decade we worked closely with the Port of Fujairah to build a major asset that complements the infrastructure of the UAE, serving the needs and requirements of the country and Fujairah in line with the vision of our leadership to diversify the national economy in preparation for the post oil era. We will continue to work closely with them to build on our strategic partnership and to ensure the interests of our customers and the country.”

The two parties have now completed the transfer of operations from DP World to the Port of Fujairah authorities. Mohammed Al Muallem, DP World UAE Region SVP and Managing Director, said:

“The termination and handover of the management of the port is taking place in accordance with the conditions of the agreement. We are proud of our record in supporting our partners in Fujairah, developing the capability of the port and its efficiency and we wish them continued success.”