DP World has completed the acquisition of a 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine, after receiving regulatory approval.
According to a statement, acquisition will expand DP World’s operations as well as strengthen TIS Container Terminal as one of the key market leading purpose-built terminals in Ukraine by leveraging DP World’s global network of ports, economic zones, warehousing and inland logistics solutions.
The acquisition marks DP World’s second major partnership with TIS shareholders, the first being with P&O Maritime Ukraine which provides harbour towage services in the principal Black Sea ports in Ukraine.
Furthermore, the acquisition will make Ukraine’s trade “more resilient” and enable DP World to link its terminals in Constanta and Yarimca with TIS Container Terminal using its Unifeeder network.
“Today ushers in a new and promising era, as we expand our global portfolio in Ukraine,” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World.
“We are excited about this important milestone and this acquisition supports our long-lasting commitment to enabling global trade.
“This acquisition establishes DP World in a highly attractive market, we look forward to contributing our experience, expertise and resources to the continued development and growth of the TIS container terminal.
“In so doing, we will look to build on and expand the commercial success that TIS Container terminal has achieved”.
The Ukrainian container market grew by 20% in 2019 which in DP World’s view makes it “an attractive market to enter”.
TIS Container Terminal, in particular, has “excellent maritime and landside connectivity” including the market leading rail connectivity is a the ideal facility for DP World in the country.
Following DP World’s acquisition of SeaRates.com, a digital platform that enables customers to transport cargo worldwide, along with LandRates.com and AirRates.com.
DP World has also created the Digital Freight Alliance which is an online association that brings freight forwarders globally onto one platform, giving them access to new tools, routes and services, and enabling them to do more business anytime anywhere, which can be harmonised with DP World’s Ukraine footprint.
https:/www.porttechnology.org/news/dp-world-acquires-tis-container-terminal/