London Court of International Arbitration rules in favour of Dubai port operator DP World in dispute with Government of Djibouti
DP World said on Thursday that it is reviewing its options after a tribunal of the London Court of International Arbitration ruled against the Government of Djibouti in its seizure of the Doraleh Container Terminal.
In a tweet, the Dubai-based port operator said the tribunal has confirmed the confirmed the illegitimacy of the seizure action.
It added that its concession agreement for the terminal "remains valid and binding", according to the ruling.
"DP World will now reflect on the ruling and review its options," another tweet said.
Last month, DP World warned that the government’s illegal seizure of the facility doesn’t give the right to any third party to violate the terms of the concession.
Its warning came in the wake of news reports on the opening of the first phase of the Chinese-built International Free Trade Zone, in violation of DP World's exclusive management rights.
In February, the Government of Djibouti unlawfully seized control of the terminal, forced DP World employees to leave the country and purported to terminate the concession agreement.