DP World sets focus on expanded Panama Canal

DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem met with Panama President Juan Carlos Varela to explore logistics and industrial parks, and other opportunities relating to the expanded Panama Canal.

   DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem met with Panama President Juan Carlos Varela to explore logistics and industrial parks, and other opportunities relating to the expanded Panama Canal, the Dubai-based port terminal operator said Wednesday.
   The Panama Canal’s third set of locks opened in June 2016, allowing ships with up to 14,000 TEUs to transit the waterway. Prior to the Panama Canal expansion, only vessels up to 5,000 TEUs could transit the waterway.
   Mr. Bin Sulayem stressed the importance of the Americas to DP World and outlined how its operations in the region from Latin America to the Dominican Republic and Canada are supporting economies and facilitating trade.
   In 2016, trade between Dubai and Panama reached over AED 77 million (U.S. $21 million), up from the AED 71.5 million in 2015.