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Djibouti Courts Ethiopia in DP World Terminal Wrangle
Djibouti is reportedly in discussions with neighbouring Ethiopia over a major sharing of logistical assets, including the Dolareh Container Terminal
Djibouti is reportedly in discussions with neighbouring Ethiopia over a major sharing of logistical assets, including the Dolareh Container Terminal, which an international court previously ruled belonged to DP World, according to Bloomberg.
The deal on the table between Djibouti and Ethiopia includes an exchange of shares in Ethiopia Airlines Enterprise, as well as shares in Djibouti’s Horizon Oil Terminal and the Doraleh Container Terminal.
Ethiopian Telecommunications Corp. and Djibouti Telecom SA will also be up for exchange.
Reports suggest the deal has already been agreed despite DP World previously stating that it still had the rights to the Dolerah Terminal and was willing to stake that claim against any new bidders.
As Ethiopia is a landlocked nation, it relies heavily upon Djibouti for its imports and exports, with up to 95% of its trade heading through Djibouti.
There has been several reports of liners willing to operate the Doraleh Container Terminal, however nothing has as yet come to pass.
DP World won a battle in the International Court in London over the right to operate the terminal, however Djibouti has been unwilling to negotiate since the decision.