DP World today signed a concession agreement with the Deendayal Port Authority to develop, operate and maintain a new 2.19 million TEU per annum mega-container terminal at Kandla in Gujarat on India’s western coast.
The concession agreement was signed between S. K. Mehta, Chairman of Deendayal Port Authority and Rizwan Soomar, MD & CEO, India Subcontinent, Middle East and North Africa, DP World. It was signed in the presence of Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways, Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, Shantanu Thakur, Minister of State for Ports, Shipping and Waterways, at a ceremony in New Delhi.
The Deendayal Port Authority awarded the concession in January to develop the mega-container terminal to Hindustan Infralog Private Limited -- a joint venture between DP World and National Investment and Infrastructure Fund, India’s collaborative investment platform anchored by the Government of India. The concession is on a Build-Operate-Transfer (BOT) basis for a period of 30 years with the option to extend for another 20 years.
The project involves the construction of a mega-container terminal at Tuna-Tekra near the existing Deendayal Port, at a cost of approximately $510 million through a Public Private Partnership (PPP).
Once complete in 2027, the 2.19 million TEU per year terminal will have state of the art equipment and a 1,100 m berth capable of handling next-generation vessels carrying more than 18,000 TEUs. As part of this concession agreement the berth can be further extended to 1,375 m.
The terminal will connect to the hinterland through the network of roads, highways, railways and Dedicated Freight Corridors, supporting the growing demand for logistics solutions from across Northern, Western and Central India, connecting businesses in the regions to global markets.
DP World currently operates five container terminals in India – two in Mumbai, one each in Mundra, Cochin and Chennai – with a combined capacity of approximately 6 million TEUs. With the addition of Tuna Tekra, DP World will have a combined capacity of 8.19 million TEUs.
The project is part of the National Infrastructure Pipeline and will complement initiatives of the Government of India, such as the PM Gati Shakti Master Plan and National Logistics Policy. The container terminal will be fully compliant with the green port guidelines ensuring sustainability in port operations by adopting best practices of port environment management contributing towards the long-term sustainability goals set out by the Government of India.
Speaking on the occasion, Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal said: “The signing of the concession agreement between Deendayal Port Authority and DP World is a momentous event indeed as it marks yet another significant breakthrough in building best-in-class infrastructure in India under the Public-Private Partnership model. The Project aligns with our Honourable Prime Minister’s Amrit Kaal Vision 2047 and would quadruple port handling capacity and develop multimodal logistics infrastructure to promote economic growth. Once operational, the terminal will play an important role in the government’s ambitious vision to make India an ‘Exports Hub' as also support the creation of direct and indirect employment in various sectors such as transportation, distribution and supply chain”.
S.K. Mehta Chairman, Deendayal Port Authority commented: “We are delighted to partner with DP World in developing one of our pathbreaking projects at the Deendayal Port. The Tuna-Tekra mega- terminal will be one of the largest container terminals to be set up in the country. It will help increase the productivity and cargo handling capacity of the port. As one of India’s busiest ports, we are committed to enhancing our capacity to serve the nation and businesses by reducing congestion and driving trade efficiencies. The Indian Railways have recently approved the quadrupling of Samakhiali – Gandhidham line, which will be a big boost for the upcoming container terminal at Tuna Tekra. In addition, we are in discussion to implement various other initiatives to enhance connectivity of Kandla and Tuna Tekra along with Ministry of Road Transport and Highways and Indian Railways.”
Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said: “We are honoured to partner with Deendayal Port Authority in developing this new mega-container terminal at Tuna-Tekra. It will enable DP World to deliver trade opportunities, by connecting Northern, Western and Central India with global markets, thereby driving value for all our stakeholders. India represents a significant landscape for opportunity. The signing of this concession agreement marks another milestone in our collective efforts with the National Investment and Infrastructure Fund to leverage DP World’s expertise in logistics infrastructure and local knowledge to further strengthen India’s supply chain to support the growth of trade and industry.”
Rajiv Dhar, CEO and Managing Director, National Investment and Infrastructure Fund, added: “We are excited to collaborate with Deendayal Port Authority and DP World to develop one of the largest greenfield infrastructure projects in India’s ports sector on a Public-Private Partnership basis. This project will create significant value for end-users and help the government achieve its goal of reducing logistics costs for trade. This project is a testament to our ability to drive large-scale infrastructure development by partnering with strategic players.”
Following today's announcement of a phased approach to CDS export migration, Steve Parker, Director General of the British International Freight Association (BIFA) said: "CDS has been a long-time in the making, and there has been a number of changes in the implementation timetable.
This revision to the deadline for businesses to move export declarations via the CDS system is quite short and any business must continue to work towards transitioning from CHIEF to CDS, as a large proportion of BIFA members are already doing.
"Today's announcement provides clarity to the trade and shows that HMRC has been listening to the ongoing lobbying on the subject that has been done by BIFA, and others.
"BIFA members now have clear time frames and should ensure that they have their own implementation plans, as well as test the system wherever possible. The trade association will continue to engage with HMRC on behalf of our members, as well as request that the department provides webinars and training materials to help with the revised implementation timetable."
DP World Limited has announced resilient financial results for the first six months to 30 June 2023.
On a reported basis, revenue grew by 13.9% to $9,037 million and adjusted EBITDA grew by 7.0% to $2,611 million with adjusted EBITDA margin of 28.9%.
Revenue growth of 13.9% is mainly attributable to the full six months consolidation of Imperial Logistics (2022 – 4 months).
Like-for-like growth driven mainly from strong performance of Imperial Logistics in Africa and Drydocks World in UAE.
Adjusted EBITDA grew 7.0% on higher revenue growth and EBITDA margin for the year stood at 28.9%. Like-for-like adjusted EBITDA margin stood at 30.8%.
Net cash generated from operating activities stood at $1,951 million 1H 2023 (compared to $1,931 million in 1H 2022).
Leverage (Net debt to adjusted EBITDA) on a pre-IFRS16 basis stands at 2.8x (FY2022: 2.7x). On a post-IFRS16 basis, net leverage stands at 3.2 times compared to 3.0 times in FY2022.
DP World’s credit rating improved by two notches by Fitch to BBB+ with Stable Outlook and one notch by Moody’s to Baa2 with Stable Outlook on improved financial performance and a stronger balance sheet.
DP World is committed to a strong investment grade rating in the medium term.
Capital expenditure of $910 million ($741 million in 1H 2022) was invested across the existing portfolio.
Capex split: $412 million Ports and Terminals, $284 million Logistics and Parks and Economic Zones, $187 million Marine Services and $27 million in Head Office.
Capital expenditure guidance for 2023 is for approximately $2.0 billion to be invested in UAE, Jeddah (Saudi Arabia), London Gateway (United Kingdom), Dakar (Senegal), Callao (Peru) and DPW Logistics (South Africa).
Enhanced logistics portfolio offers value-add capabilities in fast-growing markets and verticals.
Group is well-positioned to capitalize on the growing demand for customised solutions in the logistics industry.
Investment in renewable energy through the I-REC programme has resulted in 47% reduction in DP World UAE carbon emissions.
Committed to investing more than $500 million to reduce CO2 emissions by 700k tonnes in the next 5 years.
Solid 1H 2023 performance but outlook remains uncertain due to geopolitics, inflationary environment, higher interest rates and currency fluctuations.
DP World remains positive on the medium to long-term outlook for global trade and is focused on delivering integrated supply chain solutions to cargo owners to drive sustainable returns.
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, commented: “We are pleased to share a resilient set of results for the first half of 2023, with our adjusted EBITDA enhancing by 7.0% to surpass $2.6 billion. Despite facing a softer container market and weakened freight rates amid challenging economic conditions, our focus on high-margin cargo, end-to-end bespoke supply chain solutions and cost optimization has been crucial in securing these results. This strategy has not only been effective during these challenging times but also lays the foundation for our sustainable long-term growth and returns.
Our logistics vertical has demonstrated robustness in this demanding economic landscape, attracting more cargo owners to our platform. The positive feedback to our end-to-end product emphasis the value of our customised solutions enables customers to conduct trade more effectively. Strategic investments in high-growth sectors enable us to provide value-added solutions, and we remain committed to continuously enhancing our logistics platform. This includes addressing supply chain inefficiencies and enhancing connectivity in crucial trade lanes to serve cargo owners better.
Notably, we continue to make substantial progress towards our 2050 net zero carbon target. Our recent investment in renewable energy through the I-REC programme has significantly cut DP World UAE business carbon emissions by 47%. We are confident of achieving our goal to cut CO2 emissions by 700k tonnes which accounts for approximately 22% of our total emission within the next five years.
In summary, our balance sheet remains robust, and we continue to generate high levels of cash flow, which provides us the flexibility to invest in the growth of our existing portfolio and new investment opportunities when they arise. While the near-term trade outlook may be uncertain due to macroeconomic and geopolitical factors, the solid financial performance of the first six months positions us well to deliver a steady set of full-year results. We remain optimistic about the medium to long-term prospects of the industry and DP World’s capacity to consistently generate sustainable returns.”
Longtime Puerto Rico shipping and logistics company Crowley has partnered with El Nuevo Día to amplify the legacy of Roberto Clemente Walker— from San Juan to Pittsburgh and beyond.
This comes as the Pittsburgh Pirates and Clemente family prepare to welcome “3,000,” a photographic exhibit dedicated to honoring the Hall-of-Famer, humanitarian, and beloved Puerto Rican hometown hero.
Leaders from Crowley, El Nuevo Día, Puerto Rico’s most circulated newspaper, and the Clemente Foundation announced the unique partnership Thursday as the landmark exhibit was loaded in specially marked container aboard U.S.-based Crowley’s 455-3 vessel to journey to Pittsburgh by way of the company’s dedicated North Atlantic service between San Juan and Philadelphia. It will be on display from September 11-17 at the PNC Park grounds, home of Clemente’s Pirates.
“As Puerto Rico’s longest serving U.S. shipping and logistics company, we are grateful to carry forward the humanitarian legacy of a beloved national hero by delivering the ‘3,000’ exhibit from Puerto Rico to Pittsburgh,” said Sal Menoyo, vice president of Puerto Rico and Caribbean logistics, Crowley. “It is an awe-inspiring responsibility for every Crowley employee from Puerto Rico, the U.S. mainland and beyond to share Clemente’s history with future leaders, athletes and outstanding citizens, as we live out our commitment to the communities we serve.”
The exhibit, curated by Dennis M. Rivera Pichardo, director of photography for El Nuevo Día and designed by Luisel Zayas, Franco Marcano and Francisco Rullán team from Formatería, honors Clemente by offering a unique and intimate view of the career, family life and the timeless legacy of the legendary baseball player as seen through the lens of veteran photojournalist Luis Ramos. The exhibit features memorable black-and-white photographs and includes never published images of the behind-the-scenes moments from September 30, 1972, when Clemente joined baseball’s elite 3000th club in the company of such baseball greats as Willie Mays, Hank Aaron, Alex Rodriguez, and Albert Pujols—to name a few.
“We have witnessed the life-changing impact that the ‘3,000’ images have had on those who visited the exhibit here in San Juan; it has been especially compelling to see the wonderous eyes and beautiful smiles on children’s faces as they learn about the life of one of our national heroes. I am certain that Pittsburgh will welcome ‘3,000’ with the same sense of pride as they would celebrating one of the city’s hometown heroes,” said Pedro Zorrilla, CEO of GFR Media.
During its San Juan presentation, more than 120,000 residents and visitors enjoyed the exhibit. Pittsburgh area residents and baseball fans visiting the park during the Pirates two series against the Washington Nationals and New York Yankees will have an opportunity to enjoy the public exhibit. An estimated 25,000 people are expected to visit the stadium daily during the series.
Clemente received many honors during his storied professional baseball career. He was an All-Star, MVP and two-time World Series Champion in 1960 and 1971. Born and raised in Carolina, Puerto Rico, Clemente starred with the Pirates for 18 seasons from 1955 to 1972. Clemente’s legendary career was tragically cut short by a plane crash enroute to deliver aid to earthquake victims in Nicaragua on December 31, 1972. He was 38.
“Our father lives on through his many achievements. On behalf of my family, we are grateful to GFR and El Nuevo Día, for documenting his life and the milestone 3,000th hit so beautifully while shining a light on his legacy,” said Luis Roberto Clemente, son of the late Roberto and Vera Clemente and director of the Roberto Clemente Foundation Legacy Program.
Jettainer is continuing its path to drive forward digital and non-digital innovation by appointing Christine Klemmer as Chief Innovation Officer.
The newly established department aims to enhance ULD management services through cutting-edge technology, strategic AI applications and tracking solutions. As the company continues its growth trajectory, Klemmer’s focus will ensure that Jettainer remains the industry’s leading innovator in ULD management, providing forward-looking services to customers worldwide.
As newly appointed Chief Innovation Officer, Christine Klemmer is driving forward digital and non-digital innovation. The primary goal of this new department is to leverage cutting-edge technological developments to enhance Jettainer’s ULD management services even further. This includes the strategic utilization of AI applications and exploring innovative tracking solutions beyond BLE. Additionally, Jettainer’s own IT landscape JettwareNG will be further improved and automated, facilitating faster and more user-friendly experiences for customers, service providers and employees through smart workflows.
“Staying innovative and leveraging the latest technological opportunities is crucial to ensure efficient ULD management for our customers around the globe. That is why we have now created the structures that give room for new and creative solutions. Christine Klemmer’s experience at home and abroad and her wide-ranging expertise in ULD management, air freight, and IT, makes her the ideal fit,” remarked Jettainer’s CEO, Thomas Sonntag.
“Jettainer’s customer-centric and innovation-driven approach puts us in an outstanding position to continue on our successful growth trajectory. I am eager to explore new possibilities and to ensure Jettainer remains the leading innovator in ULD management, offering top-notch and forward-looking services to our customers and the industry,” said Jettainer’s new Chief Innovation Officer, Christine Klemmer.
In addition to her new role, Christine Klemmer will remain responsible for strategic development at the ULD specialist and manage Jettainer’s project portfolio and corporate communications. Christine Klemmer joined Jettainer in 2019 to further develop the ULD sharing platform skypooling. Previously, she held several international management positions in air cargo where she was responsible for business development, operations as well as quality and process management.
CEVA Logistics announced today that it has signed an agreement to acquire 96 percent of Mumbai-based Stellar Value Chain Solutions from an affiliate of private equity firm Warburg Pincus and other shareholders.
Started in 2016 by Anshuman Singh, Stellar Value Chain Solutions has grown into a key local player in contract logistics with omni-channel fulfillment services in the eCommerce, automotive, food products, consumer, fashion and retail, healthcare and pharmaceuticals market segments. Anshuman Singh will continue driving this business following the acquisition.
CEVA will acquire approximately 7,700,000 square feet of space across more than 70 facilities in 21 cities across India. In addition, CEVA will inherit the Stellar workforce of nearly 8,000 full-time and temporary employees, who have strong expertise and relationships in India. The Stellar acquisition will help CEVA diversify its presence in India, boosting its local workforce, assets, customer roster and capabilities. The deal strengthens CEVA’s strategy to provide its customers with end-to-end supply chain solutions.
Next step in CEVA’s strategic development in APAC
CEVA Logistics is currently present in 75 locations across 35 cities in India with approximately 2,700,000 square feet of warehouse space. With the acquisition, CEVA Logistics would become a much stronger player in Indian contract logistics, offering its new customers global expertise and increased operational efficiency and innovation.
In addition to India, the acquisition complements recent growth in CEVA’s contract logistics business elsewhere in the Asia Pacific region. The deal is also expected to benefit CEVA’s freight management and customs business in the region. With new manufacturing trends and supply chain routes developing, CEVA’s global network and wide range of logistics solutions provides its APAC clients with the agility needed to navigate changing market conditions.
Mathieu Friedberg, chief executive officer, CEVA Logistics, said “With the addition of Stellar VCS, we will continue our strategic growth with the goal of becoming a Top 5 global logistics player. We are expanding into more key market segments and boosting our presence in this strategic country. Stellar has an important network of contract logistics facilities across India and a top roster of customers. Bringing on their expertise and footprint in India is a major step forward for CEVA Logistics.”
Anshuman Singh, founder, Stellar Value Chain Solutions, said “We have built a strong network across India based on our commitment to serving our customers through long-term partnerships. Warburg Pincus has been an extremely valuable and supportive partner in building this company right from its inception and is now passing on the baton to another global giant, CEVA Logistics, to take this company ahead. I look forward excitedly to the future with CEVA, further supporting our commitment to our customers and allowing them to benefit from CEVA’s global capabilities with our knowledge of India. The shared values of our Stellar associates and those of the CEVA Logistics team will allow for a quick integration and new, global opportunities for our associates.”
The Montreal Canadiens announced Tuesday that the club’s training facility in Brossard will now be known as the CN Sports Complex.
"We are proud to welcome CN as a partner of the Montreal Canadiens. CN is not only a world leader in transportation, but also an iconic Canadian company which, like the Canadiens, has been based in Montreal for over a century. We are delighted to begin this multi-year partnership with CN and we look forward to working together with them," said Groupe CH president, sports and entertainment, France Margaret Bélanger.
"We are very proud of this new partnership with the Montreal Canadiens. The Habs are a quintessential Montreal institution and as a Montreal-based company ourselves, we wanted to contribute to our hometown in a meaningful way. The Sports Complex is a great opportunity to give back via a state-of-the-art facility, which uses physical activity as a means to create special moments for users," added Tracy Robinson, President and CEO of CN.
As part of Rail Safety Week and to mark the start of the Canadiens' training camp, CN is inviting the public and Habs fans to come meet the CN team on September 23 at the facility where Canadiens promotional items will be up for grabs, including a signed Nick Suzuki jersey.
The Montreal Canadiens would like to thank Bell for their support and confidence since the training center's inauguration in 2008. The facility's interior and exterior signage will be updated in the coming days to reflect the new partnership.
Dachser has appointed a new general manager for its branches in the Northeastern United States.
With Andreas Kayser, an experienced logistics manager is responsible for the branches in New York, Boston and Baltimore since August 1, 2023. Additionally, Robert Crimmins has been appointed branch manager for Dachser’s location in Boston and is steering Dachser’s representation in Massachusetts since mid-July.
As General Manager Northeast, Andreas Kayser is responsible for a total of three branches of Dachser in the United States: New York, Boston and Baltimore. Prior to his new role in the United States, Kayser has been with Dachser in Germany since April 2022, acting as a National Account Manager within the Air & Sea Logistics (ASL) EMEA business unit. Before joining the company, Kayser has held the position of Director Global Airfreight at Forto Logistics. Additionally, he acted as Managing Director Germany at both Gebrüder Weiss and BDP International. With plentiful experience in sales management and other management roles in logistics, he brings over 15 years of leadership experience in the industry to his new position.
Kayser is based at Dachser’s branch in New York, which is located in closest proximity to John F. Kennedy International Airport. He reports directly to Ralph Riehl, Managing Director ASL Americas.
“The Northeastern United States are one of the most important economic areas in the country. Although Dachser’s setup in the region is already well-established, Andreas Kayser brings a wealth of experience to develop our commitment in the area even further”, says Ralph Riehl, Managing Director ASL Americas.
Additionally, Robert Crimmins has been appointed branch manager for Dachser’s branch in Boston in mid-July. As a seasoned logistics executive with over 28 years of experience in building successful teams in the industry, he has worked in seven metropolitan areas across the United States. Thanks to a diverse background with leadership experience in both sales and operations, he has a profound track record in all facets of logistics. Prior to joining Dachser, he has acted as general manager for C.H. Robinson’s location in Miami and as East Region Director of Sales at Morrison Express. In his new position as branch manager in Boston, Crimmins reports to Andreas Kayser.
Bechtel Energy Inc. (“Bechtel”) and Five Point Energy LLC (“Five Point”) announced an agreement that enables Five Point to utilize Bechtel’s proprietary Low Energy Ejector Desalination System (“LEEDS”) technology to provide produced water desalination services to customers across the Permian Basin.
The agreement establishes an exclusive relationship between Bechtel and Five Point for the marketing, development, and sale of plants utilizing the LEEDS technology for produced water in the Permian Basin.
Deep Blue Holdings, LLC (“Deep Blue”), a portfolio company of Five Point, will operate Bechtel’s pilot unit at a saltwater disposal well near Midland, Texas, to support the development of and demonstrate the technology’s reliability.
“Bechtel places a core focus on protecting people and the environment, and we’re proud to help our customers find new and innovative ways to meet their sustainability goals,” said Paul Marsden, president of Bechtel Energy. “LEEDS is part of Bechtel's strategic approach to creating a cleaner world by tackling water scarcity at the source.”
David Capobianco, CEO of Five Point Energy, said, “We are excited to partner with Bechtel on this compelling and innovative solution to desalinate produced water across the Permian Basin. Five Point, and our dedicated platforms, have always been pioneers in addressing the produced water needs of blue-chip clients and reducing reliance on freshwater sources for drilling and completion activities. Today’s announcement is yet another milestone in our journey to treat and preserve water in an environmentally efficient and economical manner.”
“Deep Blue has worked for years to advance the preservation of freshwater resources in energy development,” said Scott Mitchell, CEO of Deep Blue. “The LEEDS pilot test marks a crucial next step to further that effort.”
US-based freight forwarder OnBoard Logistics has partnered with intelligent logistics platform Raft to successfully optimize warehousing operations and redefine the way cargo is received and processed.
OnBoard Logistics now boasts a fully automated warehouse pre-check process, utilizing Raft’s platform to optimize the receipt and processing of cargo before its physical arrival, streamlining operations and eliminating potentially costly mistakes.
Since implementation, which was completed within a two-week period, OnBoard Logistics has achieved a capacity lift of over three times its previous capabilities, and has eliminated human errors in its warehousing processes.
“Our goal has always been to optimize our services and provide unparalleled quality to our clients,” said Rodrigo Sosa Quiroga, Co-founder and VP, OnBoard Logistics.
“We recognized the need for innovation in our industry, especially in streamlining warehouse operations. With Raft’s expertise, we have been able to automate and optimize our processes, delivering faster and more accurate results.”
OnBoard Logistics has recently embarked upon an aggressive digitalization strategy, investing heavily in its technological infrastructure to significantly enhance its warehousing capabilities.
“OnBoard Logistics’ forward-thinking approach and commitment to leveraging technology to optimize operations is truly commendable,” said Lionel van der Walt, Chief Growth Officer, Raft.
“We are confident that our partnership will unlock new opportunities for OnBoard Logistics as they continue to expand,” he said.
OnBoard Logistics’ adoption of Raft is part of a larger initiative known as the Digital Warehouse Project, aimed at transforming the company’s operations to meet the evolving needs of the market.
The integration of handheld scanners and artificial intelligence capabilities, combined with the existing software infrastructure, has further solidified OnBoard Logistics’ competitive edge.
“In an industry where creativity and differentiation are often limited, optimization is the key to success,” added Sosa Quiroga.
“By incorporating Raft’s innovative solutions, we are able to offer a level of service that is unrivalled in the market. Our ability to pre-check and process cargo faster ensures our clients receive exceptional service, save time and money, and gain a competitive advantage in their own operations.”
Having experienced significant growth in recent years, OnBoard Logistics intends to continue investment into cutting-edge technologies as it expands its reach into new markets, further facilitating the digital transformation of the industry.
FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, has successfully concluded its community outreach program in Hong Kong in partnership with Green Monday.
The final two community events took place on July 30 and August 6 respectively. During these events, 14 volunteers from both FedEx and Green Monday collaborated to prepare and distribute more than 300 nutritious meal boxes to individuals in need at Ginko House.
FedEx is committed to making a positive difference to the local communities by promoting positive changes through various activities. In collaboration with Green Monday, FedEx aims to support the communities it serves while promoting sustainable living. The program included three community outreach events for the underprivileged and one nutrition seminar aimed at educating local employees about the significance of adopting a sustainable and well-balanced diet. Nearly 50 FedEx employees volunteered their time to support the program and give back to the community.
