• 2019 November 23 15:04

    DP World Sokhna nearing completion of $520 million port expansion project

    DP World Sokhna says it is near completion of a major expansion project that will bring DP World’s total investment in Egypt to $1.6 billion. Basin 2 will be operational by the second quarter of 2020 and nearly double capacity at the port to 1.75 million TEUs per year. The expansion cements DP World Sokhna’s position as a major gateway for Egypt’s trade, and the only port in the country capable of handling the largest container ships in the world.

    Built at a cost of $520 million and complementing two operational basins, the expansion into Basin 2 includes a 1.3-kilometre-long quay with 400 meters in use in Phase 1, and a 350,000 square meter container yard. It is one of the largest direct investments into the Egyptian economy this year.

    The expansion comes as the UAE and Egypt agreed to support a $20bn joint strategic platform to invest in a range of vital sectors and assets, with ports and economic zones being an integral driver for global competitiveness and economic prosperity.

    Basin 1 is already operational with a capacity of 945,000 TEUs. Basin 3 is a liquid bulk station spanning 400 square meters which is a major gateway for Egypt’s energy imports.

    The world-class facilities of the port have played a significant role in adding value to its customers’ operations by enhancing productivity, speed and cargo cost reduction while attracting leading global shipping lines and beneficial cargo owners.

    Suhail Al Banna, CEO and Managing Director of DP World Middle East and Africa said: “Our success in enabling trade and stimulating commerce at DP World Sokhna over the last decade is a testament to our market strength as a key trade and logistics hub in the south of the Suez Canal with access to the world’s busiest maritime trade routes. We are confident that our expansion into Basin 2 will significantly facilitate greater volume capacity at the port, which in turn, supports our commitment to bolstering Egypt’s economic growth by attracting greater investment and strengthening the foundations for a lucrative trade eco-system.”

    Al Banna added, “Through our end-to-end commercial strategy, we have expanded our role to support port operations in industrial, economic, and logistic zones by facilitating the most efficient movement of cargo and access to global consumption centres, while adopting the latest innovative technologies.”

    Ajay Singh, CEO of DP World Sokhna said: “From the beginning, we set out to position DP World Sokhna as Egypt’s leading port, and we remain committed to sustaining this success through in-depth market knowledge, constant improvement and operational versatility as we continue to mobilise our expertise and resources to develop infrastructure that caters to our customers’ needs, from point of origin to consumption.”

    The 10-year anniversary event of DP World Sokhna, was held at the Nile Ritz Carlton hotel in Cairo, on Tuesday November 19.It was attended by H.E. Hisham Tawfik, Egyptian Minister of Public Enterprise Sector, H.E. Engineer Yahya Zaki, chairman of the Suez Canal Economic Zone as well as other officials.

    About DP World
    DP World is a leading international operator of marine terminals and provider of logistics and related services. DP World has a portfolio of over 150 operations in over 45 countries across six continents, with a significant presence in both high-growth and mature markets. Container handling is the company’s core business generating more than 50% of its revenue. In 2018, DP World's terminals handled 71.4 million TEU. With its committed pipeline of developments and expansions, capacity is expected to rise to more than 100 million TEU by 2020, in line with market demand. DP World employs over 46,000 people from 120 countries. With its committed pipeline of developments and expansions, the current gross capacity of 91 million TEU is expected to rise in line with market demand.




2020 May 27

18:36 Nexans wins major subsea HVDC cable contract from Greece's Ariadne Interconnection S.P.S.A
18:06 The lock gate of the Pierre Vandammelock at the port of Port of Zeebrugge gets decoupled and transported to the inner harbour for renovation works
17:36 Sales of “Honesty” - device to measure the level of liquid in tanks - exceeds 1,000 units
17:06 ZIM posts Q1 2020 results
16:58 NOVATEK-Murmansk obtains resident status at Advanced Special Economic Zone
16:31 Transport Ministry addressed with proposal to introduce criteria for coal ports to be acknowledged as dedicated ones
16:04 UN agencies call for urgent action on crew changes and keyworker designation for sea and air workers
15:59 Cai Mep International Terminal welcomes maiden call of TP17 service
15:13 Traficom extends validity of certain seafarers’ competency and proficiency certificates
14:37 Krasnoye Sormovo shipyard launches Pola Agata of Project RSD59
14:02 First global standard for ship hull cleaning essential for marine ecosystems
13:44 Experts consider development of autonomous shipping as advantage for seafarers
13:29 Introduction of autonomous cargo carriers en masse expected within five-ten years
13:02 DEME Offshore successfully completes the inter-array cable laying works at the SeaMade offshore wind farm
12:45 Industry experts discussed trial project on unmanned navigation in Russia
12:30 Multipurpose Reloading Complex in Ust-Luga: environmental performance conforms with standards
12:01 Payment term for sea port dues remains 30 days for the time being in the Port of Rotterdam
11:03 Wärtsilä upgrades the SCANTS Simulation Complex to provide advanced training at the United States Coast Guard Academy
10:32 Alexeev’s Hydrofoil Design Bureau launches fifth Valdai 45R hydrofoil for Nizhny Novgorod Region
10:05 Oil prices decrease by 0.17%-0.32%
10:03 HMM Algeciras, the largest container ship worldwide, on its way to Rotterdam
09:44 Baltic Dry Index on May 26
09:18 Bunker prices continue going up at the port of Saint-Petersburg, Russia
09:11 CMA CGM announces Overweight Surcharge (OWS) from Asia to the Mediterranean & Black Sea
09:02 MABUX: Bunker market this morning, May 27
08:19 Diana Shipping announces time charter contract for m/v Crystalia with Glencore

2020 May 26

18:32 Diana Shipping signs a term loan facility with ABN AMRO Bank to refinance two separate existing loans with the bank
18:06 Jotun hull skating solutions tested by Wallenius Wilhelmsen
17:31 Bunker prices are going up at the Far East ports of Russia (graph)
17:05 CMA CGM ends PSS for exports from West Med, North Europe, Scandinavia & Poland, Baltic, Italy Adriatic & Black Sea to Mayotte, Seychelles, Comoros & Madagascar outports
16:30 Damen announces Electric Cutter Suction Dredger 650
16:05 Aker Solutions starts CCS test program at Preem refinery in Sweden
15:35 Norsepower Rotor Sail installation completed on Scandlines ferry in just hours
15:01 Baltiysky Zavod lays down forth 60-MW icebreaker of Project 22220
13:59 Mitsui O.S.K. Lines and LNG Terminal Wilhelmshaven sign a contract to build and charter an LNG terminal ship
13:42 RF Government approves Customs Service Development Strategy till 2030
13:15 Rospotrebnadzor issues guidelines on prevention of COVID-19 spread for sea and river passenger ports and terminals
12:37 Sredne-Nevsky Shipyard starts cutting steel for construction of first passenger ship of Project А45-90.2
11:58 Vostochny Port invests RUB 850 million in completion of wind and dust protection facilities
10:40 A.P. Moller - Maersk, DSV Panalpina, DFDS, SAS and Ørsted join forces on an ambitious sustainable fuel project
10:04 Oil prices rise by 1.97%-3.43%
09:49 Cai Mep International Terminal welcomes the first maiden call of TP17 service deployed by 2M alliance
09:43 4 Caspian Ports discussed joint measures to combat COVID-19 pandemic
09:21 LUKOIL installs accommodation platform jacket at v.i. Grayfer field
08:47 MABUX: Bunker market this morning, May 26

2020 May 25

17:46 Transit cargo flow by Primorye 2 ITC to Zarubino port surged by 64.8%
17:20 Wilson ASA enters into agreement with Arkon Shipping to strengthen European presence
16:42 Oboronlogistics took part in RF Transport Ministry’s meeting
16:18 Average wholesale prices for М-100 HFO rose to RUB 6,405 in RF spot market
15:55 RF Government bans imports of diesel and marine fuel
15:30 Second shallow-draft dry cargo barge of Project RDB20, Belmax 10, floated out
15:04 Upgrading of Wärtsilä FuelFlex Injection Control Unit enables reliable operation with low-sulphur fuels
14:14 UN must persuade governments to adopt crew change protocols or risk ‘humanitarian disaster’ - ICS
13:14 Port of Melbourne appoints Shaun Mooney to lead commercial operations
12:13 APM Terminals Algeciras connects to the national 66KV energy network
11:51 Global Ports handles first batch of BMWs in Saint Petersburg under its contract with ROLF SCS
11:33 Russia's Main Department of State Expertise approves construction of MSCC Bronka terminal
11:00 Drone delivers package to vessel in the port of Rotterdam for the first time
10:55 Austal Vietnam launches first vessel - 94 metre catamaran ferry for Trinidad and Tobago
10:12 C&C Marine and Repair increases its production capacity