Global trade enabler DP World has signed a Memorandum of Understanding (MoU) with US - based Hyperloop One to explore the role of innovation in the future of world trade, the company said in its press release.
The collaboration is for feasibility studies that analyse the value of using Hyperloop systems in the UAE, with an initial focus in Phase 1 on moving containers from ship s docked at DP World’s flagship Jebel Ali Port via the Hyperloop tube to a new inland container depot in Dubai.
The initial study will focus on efficient handling of containers, costs, benefits, demand and volume patterns of moving cargo using the new technology.
About DP World
DP World is a leading enabler of global trade and an integral part of the supply chain. DP World operates multiple yet related businesses – from marine and inland terminals, maritime services, logistics and ancillary services to technology - driven trade solutions. DP World has a portfolio of 77 operating marine and inland terminals supported by over 50 related businesses in 40 countries across six continents with a significant presence in both high - growth and mature markets. Container handling is the company’s core business and generates more than three quarters of its revenue. In 2015, DP World handled 61.7 million TEU (twenty - foot equivalent units) across its portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 79.6 million TEU is expected to rise to more than 100 million TEU by 2020, in line with market demand.