Dubai-based port and terminal operator DP World reported a smaller profit for the first half of the year despite a considerable increase in revenue.
On the same day as the Unifeeder acquisition went through, port company DP World had its credit rating upgraded by the recognized agency Moody's.
Unifeeder's new owner, DP World, has planted its flag in numerous of European ports, and the feeder carrier's network will now be integrated into the port operator's network. See the map here.
Germany is planning to further toughen rules against how much non-EU countries, such as China, can invest in critical companies, including infrastructure. Also the shipping industry puts pressure on the EU.
Dubai-based port operator DP World buys feeder and shortsea operator Unifeeder from equity fund Nordic Capital for EUR 660 million.
DP World insists that a concession arrangement for the container terminal in Doraleh in Djibouti remains valid. The Djibouti government refuses to acknowledge the outcome on an arbitration case in London that sided with the Dubai-based port operator in the dispute.
DFDS is bracing itself for long lorry queues in Dover after Brexit, bad bunker reached the world's largest bunker port and DSV's guidance upgrade were among this week's top stories on ShippingWatch. Also read about Kontainers, which will challenge startups such as US firm Flexport.
The world's largest port and terminal company, Hutchison, has performed nicely in the first half of 2018 with improved revenue and operating profit. But the trade war puts a damper on expectations for the rest of the year.
London arbitration court sides with DP World and finds the Djibouti government's seizure of the Doraleh container terminal illegal, according to a press release from DP World.
The Nigerian Port Authority has lifted its suspension of four carriers at several of the country's ports. These carriers will now have to comply with certain requirements.
Port company DP World experienced a slowdown in growth in the second quarter. However, the company maintains that ports have delivered "an encouraging performance in the first half of 2018."
Have we reached the bottom? An increasing number of analysts believe that the Maersk stock can deliver decent returns over the next couple of years.
Operations Specialist - Laytime - NORDEN
Legal Counsel - Swire Blue Ocean A/S
IT Operations Manager for International Shipping Company - J. Lauritzen
Experienced Chartering profile - Norient Product Pool ApS
