Freight News, Sea

Port investors set their sights on Europe

[ September 3, 2020   //   ]

DP World and institutional investor Caisse de dépôt et placement du Québec (CDPQ) say they will expand their ports and terminals activities to new regions including Europe and Asia Pacific as part of a US$4.5 billion (CA$6 billion) expansion of their commitment.

It will increase the total size of the platform to US$8.2 billion (CA$ 10.6 billion). DP World holds 55% share of the platform, and CDPQ the remaining 45%.
Since its launch in December 2016, the platform has invested in ten port terminals across the world.

The partners also pledged to broaden their footprint in existing geographies and expand across a wider part of the marine supply chain, such as logistics services linked to terminals. 
DP World group chairman and chief executive Sultan Ahmed Bin Sulayem, said: “The partnership between DP World and CDPQ has been very successful, and we have benefited from each other’s expertise. The opportunity for the port and logistics industry is significant and the outlook remains positive as consumer demand triggers major shifts across the global supply chain. Best-in-class, well connected ports and efficient supply chains will continue to play an active role in advancing global trade and cultivating the business environments closest to their operations.

CDPQ executive vice-president and head of infrastructure, Emmanuel Jaclot, said: “The enhanced platform will seek investments in high-quality port and terminal infrastructure assets that will help design the future of smart trade and logistics. As we take the next step in our partnership, we will further diversify our geographic reach and look to seize new opportunities in a sector that, even during a uniquely challenging period, is driven by long-term fundamental trends.”
Despite the impacts of COVID-19 and shifts in the global supply chain landscape, the ports sector has demonstrated a fair degree of resilience, say the partners. DP World has strengthened its logistics capabilities, combined with their maritime services operations and worldwide network of ports and terminals and says it is well positioned to face current challenges.