The Dubai, United Arab Emirates-based global port terminal operator signed a memorandum of understanding with state-run Taiwan International Ports Corporation to build and operate Kaohsiung Port’s Terminal 7 in Taiwan.
DP World has signed a memorandum of understanding (MOU) with state-run Taiwan International Ports Corporation to develop a new terminal at Kaohsiung Port in Taiwan, the company said yesterday.
The MOU covers the construction and operation of Kaohsiung’s Terminal 7 area and “marks the beginning of a joint effort to seek future business opportunities and to steer growth in Taiwan’s port infrastructure, while enhancing the country’s trade potential by establishing seamless cargo movement across its supply chain,” said the Dubai, United Arab Emirates-based global port terminal operator.
Further details of the agreement were not disclosed.
DP World noted it is the first global port terminal operator to enter the Taiwan market, as well as Kaohsiung Port’s “key geographical location” and “excellent natural harbor.”
“Our strategy in developing in strategic locations where our customers want us to be, serving global trade and being able to handle the new generation of ultra large vessels shows how we are investing in the future, translating our vision into reality,” DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said of the deal.
The company in recent years has looked to expand in fast-growing, emerging markets such as Asia and Africa.
DP World’s portfolio in the Asia-Pacific and the Indian Subcontinent includes 26 operating terminals with 35 million TEUs in capacity across 11 countries, said Asia Pacific Region Senior Vice-President and Managing Director Rashid Abdulla.
“Kaohsiung has the potential to benefit from our operational efficiencies in the region,” said Abdulla. “It has enough container capacity to serve immediate growth in Taiwan but does not yet have the capability to attract new growth resulting from the Ultra Large Container Vessels added to linehaul services. This MOU marks the intention to tackle this challenge.”
DP World earlier this week reported a 2.5 percent year-over-year increase in container volumes handled by its terminals in the first six months of 2016.
DP World to develop terminal in Kaohsiung
