Daily Digital Magazine: Pg. 1 — February 20, 2019

DP World intends to buy back P&O Ferries

Terminal operator’s move to strengthen its European short-sea presence follows last year’s acquisition of Unifeeder.

   Global marine terminal operator DP World on Wednesday announced that it will acquire the U.K. short-sea transportation services provider P&O Ferries for 322 million British pounds (about $420 million).
   P&O Ferries operates a fleet of 21 roll-on/roll-off feeder-size vessels across 11 ports in the North and Irish seas.

DP World intends to buy back P&O Ferries

Terminal operator’s move to strengthen its European short-sea presence follows last year’s acquisition of Unifeeder.

DP World intends to buy back P&O Ferries

Terminal operator’s move to strengthen its European short-sea presence follows last year’s acquisition of Unifeeder.

 
Continued from previous page
   Global marine terminal operator DP World on Wednesday announced that it will acquire the U.K. short-sea transportation services provider P&O Ferries for 322 million British pounds (about $420 million).
   P&O Ferries operates a fleet of 21 roll-on/roll-off feeder-size vessels across 11 ports in the North and Irish seas.
   The acquisition also includes P&O Ferrymasters, the company’s supply chain services arm.
   According to DP World, P&O Ferries’ revenue after EBITDA in fiscal year 2017 was about 100 million British pounds ($131 million).
   The transaction is still subject to customary regulatory approvals but is expected to close during the first half of 2019.
   DP World previously owned P&O Ferries through an acquisition in 2006, but sold the entity shortly thereafter to its parent, Dubai World.
   “We are pleased to announce the return of P&O Ferries back into the DP World family,” said DP World’s Chairman and CEO Sultan Ahmed Bin Sulayem (pictured), in a statement. “This transaction is in line with our strategy to grow in complementary sectors, strengthen our product offering and play a wider role in the global supply chain as a trade enabler.”
   DP World’s P&O Ferries acquisition is expected to not only strengthen the company’s presence in Europe’s short-sea transport sector but generate more container traffic through its London-Gateway marine terminal.
   Last year, DP World acquired Denmark-based Unifeeder Group, another short-sea transportation services provider and the largest feeder vessel operator in Europe, for 660 million euros ($765.4 million). At the time of the acquisition, it was reported that Unifeeder transported about 3.2 million TEUs annually to and from European ports on its fleet of 60 short-term chartered vessels.

We want to see meaningful changes in China’s trade practices, but it makes no sense to punish Americans as a negotiating tactic. If the administration wants to put more pressure on China, it should form a multinational coalition with our allies who share our concerns.

Six fully cellular container shipping services are offered from the India Subcontinent to North America (U.S. and Canada) and a total of seven container shipping companies deploy capacity on the trade, according to BlueWater Reporting's database.

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DP World intends to buy back P&O Ferries

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DP World intends to buy back P&O Ferries

Terminal operator’s move to strengthen its European short-sea presence follows last year’s acquisition of Unifeeder.

Feb 20, 2019 on Dec 27, 2018AmericanShipper.com

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DP World intends to buy back P&O Ferries

Terminal operator’s move to strengthen its European short-sea presence follows last year’s acquisition of Unifeeder.

Feb 20, 2019 on Dec 27, 2018AmericanShipper.com