DP World, from a local operator to expansion around the worldTed Blackwater ▼ | August 5, 2019
DP World started as a local port operator, today they are a respectable company, doing business in many parts of the world.
Middle East DP World delivered a broadly stable volume performance despite uncertainties
You recently signed $1.2 billion deal in Indonesia with their leading conglomerate. How important is Indonesia to you as a country with a significant economy, and also as, let's put it that way, a base for further expansion into the region?
Indonesia is one of the most important world economies, and the partnership will be a major addition to our global portfolio and a new step in our ongoing expansion. Any future expansion in the region will be announced in due course, says DP World spokesperson.
Regarding the Northern Sea Route, in which you will also be present, how do you see the importance of it? This is Arctic's most trafficked shipping lane, do you think that unfortunate global warming will open the route even more, making it even more important in the future?
DP World sees enormous potential in the Northern Sea Route and looks forward to creating new successes with its partners. We can comment on new developments when they occur.
We see that you are actively engaged in expansion through acquisitions, recent examples are Topaz Energy and Marine Limited. Do you set your eyes on other companies you might acquire in the future, or maybe there is a region in which you would like to strengthen your presence through acquisitions?
Our latest acquisition complements the operations of our P&O Maritime Services (POMS) business, which maintains over 300 vessels globally.
We are open to new acquisitions, and the new partnership opens the door for DP World to explore new business areas more extensively, for example, increasing transit volumes through Azerbaijan within the East-West trade corridor, explains DP World spokesperson.
You reported respectable 35.8 million TEU handled and a constant growth. Are you experiencing any downside from the U.S.-China trade war and tensions in Asia, such as Korea-Japan dispute?
This is a global trade issue. DP World is a leading enabler of global trade, and we have delivered a broadly stable volume performance in the first half of 2019 despite uncertainties from the trade war.
Do you have any plans to expand in the U.S., still one of the most important markets?
No immediate plans, but we are always open to new opportunities wherever they may be.
You began as a local port operator, today you are respectable company present in many parts of the world. What are you plans for the future and do you see any serious competition in your field of work?
Today we are a global trade operator in my diverse areas. We have been strengthening our product offering, allowing us to enable trade and connect directly with end customers to deliver a range of logistic solutions.
Our near-term focus is on integrating our recent acquisitions, managing costs and disciplined investment to cement DP Worlds position as the trade partner of choice.
That means diversifying our services becoming a data driven logistics business adding value at more points of the supply chain. Our purpose – to deliver smarter trade for the benefit of everyone, concludes DP World spokesperson. ■