DP World gearing up for new Russian venture

Chairman of the Dubai Company DP World, Sultan bin Sulayem, has visited the Russian President Vladimir Putin. DP World is ready to return to Russia after a three-year break, he said recently.

Dp Worlds terminal i London Gateway. | Photo: London Gateway

Terminal Operator DP World is likely on its way back to the Russian market, after the company divested its Russian business in 2012. Recently the Chairman of the Dubai-based company, Sultan bin Sulayem, met with the Russian President Vladimir Putin to discuss an investment in the Far-Eastern part of the country, reports Dubai newspaper The National.

Putin has allegedly given several ministers, including transport minister Maxim Sokolov, a mandate to clear the way for DP World so that there are no obstacles for future business in the region. Meanwhile, in July the Russian Parliament approved legislation whereby 15 cities near Vladivostok, Russia's largest port city, acquire the status of "free ports" which gives tax benefits to customers and makes the port competitive with other free ports such as Hong Kong or Southern Korean Busan.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Price of Maersk's new methanol ships drops

Maersk has just ordered six new methanol-powered container ships and now reveals that the added cost of building green ships compared to conventional ones is decreasing. Economies of scale, says equity analyst.

Esvagt pursues Taiwanese offshore wind

The Danish offshore service operator has located a possible partner on the island as a part of high hopes for the local offshore wind market. If successful, Esvagt could be ready to service wind at sea in the far east in a few years.

Further reading

Related articles

Latest news

See all jobs