DP World announces that it has acquired an additional 23.94% stake in Pusan Newport Company Limited (PNC) in South Korea from Samsung Corporation & Subsidiaries. This increases DP World’s holding in PNC to 66.03%, and the terms of the transaction are undis closed.
PNC is the largest terminal in the port of Pusan with 5.25 m TEU capacity, handling 34% of the new port volumes. The New Port of Pusan began operations in 2006, and operates 23 container berths connecting to 500 ports in 100 countries. Overall, the Port of Pusan is the 6 th largest port worldwide with volumes of 19.5m TEU in 2015 and accounts for approximately 75% of total container volumes in South Korea.
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. In 2015, DP World handled 61.7 million TEU (twenty - foot equivalent units). 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 b y 2020.