|Bid||12.90 x 150000|
|Ask||14.10 x 250000|
|Day's Range||12.70 - 12.80|
|52 Week Range||12.60 - 17.60|
|Beta (3Y Monthly)||-0.10|
|PE Ratio (TTM)||9.10|
|Forward Dividend & Yield||0.38 (3.02%)|
|1y Target Est||N/A|
The $1.2 billion container port and logistics park in Gresik, East Java will be a joint venture with Maspion. DP World (Dubai: DPW) said July 24 that it has reached agreement to create a $1.2 billion container port and industrial logistics port in East Java with the Indonesian conglomerate Maspion. The Maspion International Container Port in Gresik, East Java, will have the ability to handle 3 million TEU and will integrated with an 890 acre logistics park.
Maharashtra has granted infrastructure project status for a $10-billion plan to build the world's first ultra-fast hyperloop project, aiming to link the financial hub of Mumbai with the neighbouring city of Pune. Proposed as a replacement to existing rail infrastructure, hyperloops use magnets to levitate pods inside an airless tube, creating conditions in which the pods can shuttle people and freight at speeds of up to 750 miles (1,200 km) per hour. The status could help fasttrack land acquisition for the project over a 117.5-km (73-miles) stretch that will shuttle people between the cities in about 35 minutes.
Hyperloop, the futuristic and still theoretical transportation system that could someday propel people and packages at speeds of more than 600 miles per hour, has been designated a "public infrastructure project" by India lawmakers in the state of Maharashtra. Wrapped in that government jargon is a valuable and notable outcome. The upshot: hyperloop is being treated like any other public infrastructure project such as bridges, roads and railways.
(Bloomberg) -- U.S. sanctions against Iran and competition from Abu Dhabi are reducing traffic at DP World Plc’s home ports in Dubai, according to industry consultant Drewry.Restrictions on cargo shipments to Qatar due to an embargo by the United Arab Emirates and some other Arab nations have also hurt container traffic in Dubai. However, the recent surge in tensions over shipping incidents in the Persian Gulf region have had little if any impact on DP World’s second-quarter throughput, said Neil Davidson, senior analyst for ports and terminals at London-based Drewry.DP World, which operates ports from Vancouver to Hong Kong, released data on Tuesday showing that it handled smaller cargo volumes in Dubai for the fifth consecutive quarter. The company runs cargo terminals at Jebel Ali and Port Rashid in Dubai in the U.A.E.Davidson also said:U.S. President Donald Trump’s tightening of sanctions on Iran in November was a “significant factor” behind the company’s declining cargo volumes in DubaiTough competition from Khalifa Port in the neighboring emirate of Abu Dhabi also had an impact, particularly due to Khalifa Port’s joint venture agreements with Hong Kong-based Cosco Shipping Ports and MSC Mediterranean Shipping Co.Jebel Ali will remain the Gulf region’s biggest port, even if expansion of Khalifa Port erodes Jebel Ali’s market share Khalifa Port will be able to handle more cargo this year. Abu Dhabi Ports Chief Executive Officer Mohamed Al Shamsi said in December that Khalifa Port’s capacity will double in 2019.DP World Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem said that U.A.E. ports handled less cargo in the second quarter because of “a loss of lower-margin cargo and challenging market conditions,” without elaborating. A company media official had no immediate response when Bloomberg asked on Wednesday for details.To contact the reporter on this story: Verity Ratcliffe in Dubai at email@example.comTo contact the editors responsible for this story: Bruce Stanley at firstname.lastname@example.org, Rachel GrahamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A simmering industrial dispute in Australia burst into fire this morning when maritime box terminal operator DP World Australia used local media to threaten longshoremen with job losses if they won't agree to a new collective employment deal. Strikes have also been confirmed for DPWA's box terminals in Brisbane and Fremantle in addition to the strike at Sydney. FreightWaves confirmed with DP World Australia that the contents of the reports in local media are correct.
Another two-day strike has been called at the DP World Australia container terminal at Port Botany, Sydney, Australia, as the longshoreman's strike intensifies. The new strikes follow hot from a series of strikes around Australia last week including a four day strike in Melbourne. Thursday's 48 hour strike at Port Botany is not the only strike this coming week.
There is still a long way to go before hyperloop or this particular route thatVirgin Hyperloop One is exploring becomes a reality
Port operator DP World is set to raise $1.3 billion on Thursday through conventional and Islamic bond issues, documents issued by banks involved in the deal showed. Majority owned by the Dubai government, DP World plans to borrow $1 billion by issuing sukuk with a 10-year maturity and offering a profit rate equivalent to 195 basis points over mid-swaps. The Islamic paper was marketed earlier on Thursday with an initial guidance of around 230 basis points over mid-swaps.
Longshoremen around Australia are walking out on the job for two-, three- and four-day strikes in the latest collective employment dispute. Workers in highly unionised sectors in Australia enter into three-year collective employment contracts, known locally as Enterprise Bargaining Agreements, which are negotiated between employers and their unions. Waterfront workers at DP World Australia are striking against automation, outsourcing, cuts to income protection insurance and changes to existing bargaining agreements, according to their union, the Maritime Union of Australia (MUA).
Port operator DP World has hired banks to arrange a series of investor meetings ahead of a potential issue of 10-year U.S. dollar-denominated sukuk, or Islamic bonds, a document issued by one of the banks leading the deal showed on Monday. DP World, majority owned by the Dubai government, mandated Citi, Dubai Islamic Bank and Standard Chartered to arrange the meetings to be held in Hong Kong, Singapore and London, starting on Wednesday July 10. DP World said last week it plans to buy Topaz Energy and Marine Limited, a provider of marine logistics to the global energy industry, for $1 billion from Standard Chartered and Renaissance Services.
Efforts by marine container terminal operators to extract cash from trucking companies in Australia continues unabated with new fee hikes in the range of 73 to 88 percent to use the Vehicle Booking System. The VBS is a 24/7 online slot booking system so that trucking companies can organise the receival and delivery of ocean shipping containers. There are four main marine container ports in Australia and these are in the cities of Sydney, Fremantle, Melbourne and Brisbane.
DP World, one of the world's largest port operators, on Monday said it had acquired Dubai-headquartered oil services and marine logistics company Topaz Energy and Marine in a deal worth $1.08 billion on an enterprise value basis. DP World, also based in Dubai, acquired the company from Oman-listed Renaissance Services and Standard Chartered Private Equity. "The transaction supports our objective of increasing the company's presence in the global logistics and maritime services industry," DP World said in a bourse statement.
A consortium comprising DP World of the United Arab Emirates, the Russian Direct Investment Fund (a sovereign wealth fund), Rosatom and Norilsk Nickel have agreed to look into developing the Russian Northern Sea Route (NSR). It is hoped that the project will boost traffic and cargo volumes on the Russian Northern Sea Route and across the Russian Arctic, the sovereign wealth fund said in a statement. The first step in the program is to set up a joint working group to check feasibility and the best available commercial operations for using the Northern Sea Route.
Australia's import, export and logistics industries are in dismay at a massively escalating series of surcharges that are being unilaterally charged to truckers and shippers by the nation's main box terminal operators. There have been hikes in surcharges of hundreds of percentage points. "The result has been a disaster for Australian exporters," commented local industry and lobby group, the Freight & Trade Alliance, which represents Australian shippers.
DUBAI (Reuters) - The United Arab Emirates said on Thursday that the London Court of International Arbitration had ordered Djibouti to pay Doraleh Container Terminal (DCT), partially owned by DP World, ...
Australia's Competition and Consumer Commission (ACCC) has handed out a smack-down to the three main longshoremen companies in Australia, which were using their oligopoly market power to impose unfair terms on trucking companies. The stevedoring companies involved are DP World Australia, Hutchison Ports Australia and Victoria International Container Terminal.
India's antitrust regulator said in a court filing that a challenge by Dubai's DP World of a probe into its alleged anti-competitive practices at a Mumbai port is an effort to halt or delay possible adverse findings against the firm. The Competition Commission of India (CCI) told a Mumbai court that DP World's local unit had "prematurely" rushed to court to stall or delay the probe, according to a filing by the watchdog dated Jan. 30 and seen by Reuters. The CCI filing has not been previously reported, and DP World did not respond immediately to an email requesting comment.
International box terminal mega-operator, DP World, has announced a very solid set of results for 2018. Growth in revenues was attributed to acquisitions (for more details, see below). DP World reports that like-for-like revenue increased by 4.2 percent, driven by a 6.3 percent increase in total containerized trade.
DUBAI, United Arab Emirates (AP) — Global port operator DP World said Thursday its profit rose 10 percent to $1.29 billion last year despite worldwide trade tensions, buoying a firm that may try again to enter the U.S. market after a failed attempt a decade ago became a political maelstrom.
Dubai's DP World has asked an Indian court to halt an investigation into alleged antitrust violations at the country's largest container port in Mumbai, saying the regulator was seeking excessive information, a court document seen by Reuters showed. The Competition Commission of India (CCI) last year said it suspected antitrust violations by DP World and Denmark's A.P. Moller-Maersk at the terminals they operate at state-owned Jawaharlal Nehru Port Trust (JNPT).