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Sunday, December 4, 2011

Port Of Dubai, United Arab Emirates

Port of Dubai is a man made, commercial port in Dubai, United Arab Emirates. At the time the port only had two gantry cranes and a capacity of less than 100,000 TEUs. In 1978, the port was expanded to include 35 berths (five of which were able to be used by the largest container ships at the time). Today, the port (which has a depth of 13 metres (43 ft)) has 9 gantry cranes and a capacity of 1,500,000 TEUs.
Today, Port Rashid provides berths for general cargo, RoRo and passenger vessels. In the early 1980s, Port Rashid was supplemented by Port of Jebel Ali, which is further from the commercial centre of Dubai near the Abu Dhabi border.
Adjacent to the port are Dubai Drydocks and Dubai Maritime City. Both of these facilities were built due to Port Rashid's proximity. But, in January 2008, it was announced that the port would be redeveloped. All cargo operations will move to Jebel Ali Port by the end of March 2008. Also, part of the port will be reclaimed by Nakheel to create "a vibrant mixed use urban waterfront" that will house 200,000 residents. DP World operates more than 60 terminals across six continents(1), with container handling generating around 80% of its revenue.  In addition, the company currently has 10 new developments and major expansions underway in10 countries. 
DP World aims to enhance customers’ supply chain efficiency by effectively managing container, bulk and other terminal cargo.  Its dedicated, experienced and professional team of nearly 30,000 people serves customers in some of the most dynamic economies in the world. 
The company constantly invests in terminal infrastructure, facilities and people, working closely with customers and business partners to provide quality services today and tomorrow, when and where customers need them.
In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship Jebel Ali facility in Dubai, which has been voted “Best Seaport in the Middle East” for 17 consecutive years.
In 2010, DP World handled nearly 50 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia. With a pipeline of expansion and development projects in key growth markets, including India, China and the Middle East, capacity is expected to rise to around 95 million TEU by 2020, in line with market demand.
DP World was created in 2005 by a merger between the Dubai Ports Authority (DPA) and an Dubai Ports International (DPI) which had been founded in 1999. It purchased CSX World Terminals (CSX WT) in 2005 and the Peninsular and Oriental Steam Navigation Company (P&O) in March 2006. P&O was the fourth largest ports operator in the world and was acquired for £3.9 billion ($7 billion).
The ownership of various US ports by DP World (which had been acquired as part of the P&O deal) was seen as highly controversial by many in the US even though it was supported by the US president of the time (George W. Bush); the US ports were sold shortly afterwards.
In June 2007 the company raised $3.25 billion in Islamic and conventional bond sales to refinance existing debt and fund expansion and issued 3.818 billion shares, representing 23% of the company on the NASDAQ Dubai stock exchange in November 2007 in what was the Middle East's largest initial public offering (IPO) which raised 4.96 billion dollars.
By 2008 the company was handing 46.8 million TEU worldwide, up 8% on 2007, with expansion and development projects in India, China and the Middle East and elsewhere. Capacity was expected to rise to around 95 million TEU over the next ten years.
In December 2009 Moody's downgraded DP World's financial status to 'junk' after the Dubai 2009 debt standstill.
In January 2010, the company announced its intention to seek a share listing on the London Stock Exchange in the second quarter of 2010 and was given the go-ahead for construction of the £1.5b London Gateway port. Work on port started in February 2010.Dubai Drydocks is a drydocks facility located adjacent to Port Rashid in Dubai, United Arab Emirates. The idea for Dubai Drydocks began in 1971. After feasibility studies and construction, the facility opened in 1983. It is the only large drydocks facility in the Persian Gulf.




 

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