DP World eyes growth in Latin America, Africa

  • Share via facebook
  • Tweet this
  • Bookmark and Share

DP World, the world’s third-largest port operator, is looking to expand in Latin America and Africa, according to the Dubai-based company’s chairman.

“We are well placed in Latin America in key markets,” Sultan Ahmed bin Sulayem said in comments published by Bloomberg on Sunday.

“There are other markets we would like to go to. We do negotiate with certain countries in Latin American to acquire ports.”

He declined to specify which countries the company was seeking to enter, Bloomberg added.

DP World, which operates more than 60 terminals in six continents, said earlier this month that it posted a 21 percent jump in 2012 profit.

The port operator clocked $555m in profit attributable to shareholders for 2012, compared with $459m in 2011. Revenue for the period rose 5 percent to $3.12bn. 

For 2013, bin Sulayem was quoted as saying there are “uncertainties in the market” including concerns about fuel and energy costs needed to run the operation.

DP World isn’t expanding into the US, the world’s largest economy, as the cost of investment in ports deters the company, bin Sulayem said, adding that the company was confident about a rebound in the European economy.

The company invested $685m across its portfolio in 2012.

Related:
Companies

Market Performance

DP World - UAE
21.25
0.0 0.0 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
How to get the most out of social media, by Obama's 2008 campaign manager

How to get the most out of social media, by Obama's 2008 campaign manager

David Plouffe is credited with Barack Obama’s unlikely 2008 victory...

From bigger, faster and windowless planes to escape pods, pilotless cockpits & virtual reality entertainment: The future of aviation

From bigger, faster and windowless planes to escape pods, pilotless cockpits & virtual reality entertainment: The future of aviation

How will passengers’ flight experience be in the future? Advances...

How Gulf banks are helping to underwrite region's aviation boom

How Gulf banks are helping to underwrite region's aviation boom

Figures from Airbus show that 47% of MidEast aircraft deals in...

2
Most Discussed