DP World Completes Acquisition of Ukraine's TIS Container Terminal
Dubai-based provider of worldwide smart end-to-end supply chain logistics, DP World, with a global network of 123 business units in 54 countries, has announced the completion of its acquisition of a 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine.
This follows satisfaction of specific conditions including confirmation of regulatory approval from the relevant government authorities.
This project will be DP World's second partnership with TIS shareholders, the first being a successful partnership in the P&O Maritime Ukraine which provides harbour towage services in the principal Black Sea ports in the Ukraine.
Under the terms of agreement, DP World has acquired a majority stake and will take control of the terminal operations going forward. DP World will be a key player in the region and will look to expand the catchment of the terminal using its market leading rail connectivity.
Commenting on this important step forward, Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: "Today ushers in a new and promising era, as we expand our global portfolio in Ukraine. We are excited about this important milestone and this acquisition supports our long-lasting commitment to enabling global trade.
"This acquisition establishes DP World in a highly attractive market, we look forwar to contributing our experience, expertise and resources to the continued development and growth of the TIS container terminal.
"In so doing, we will look to build on and expand the commercial success that TIS Container terminal has achieved".
Furthermore, this acquisition helps make Ukraine's trade more resilient during challenging economic times and gives DP World the potential to offer a unique Black Sea product by linking its terminals in Constanta and Yarimca with TIS Container Terminal using its Unifeeder network.
This suite of trade enabling solutions offers cargo owners the ability to deploy their cargo strategically across essential trade lanes that serve Eastern European markets and complement DP World's existing portfolio in Romania and Turkey.
The Ukrainian container market has grown over 20% in 2019. TIS Container Terminal with excellent maritime and landside connectivity including the market leading rail connectivity is a the ideal facility for DP World in the country.
Following DP World's acquisition of SeaRates.com, a digital platform that enables customers to transport cargo worldwide, along with LandRates.com and AirRates.com.
DP World has also created the Digital Freight Alliance which is an online association that brings freight forwarders globally onto one platform, giving them access to new tools, routes and services, and enabling them to do more business anytime anywhere, which can be harmonised with DP World's Ukraine footprint.