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DP World purchases major stake in TIS Yuzhny port's box terminal

DUBAI's DP World has completed its acquisition of a 51 per cent stake in TIS Container Terminal in the Ukrainian Port of Yuzhny, 50 kilometres east of Odessa, after winning the regulatory green light from the government

07 July 2020 - 19:00

DUBAI's DP World has completed its acquisition of a 51 per cent stake in TIS Container Terminal in the Ukrainian Port of Yuzhny, 50 kilometres east of Odessa, after winning the regulatory green light from the government.

'This acquisition establishes DP World in a highly attractive market, we look forward to contributing our experience, expertise and resources to its continued development and growth,' said DP World chairman and CEO Sultan Ahmed Bin Sulayem.



The deal represents DP World's second partnership with TIS shareholders, after forming P&O Maritime Ukraine, which provides harbour towage services in the country's Black Sea ports, reports London's Loadstar.



He also suggested DP World could use the acquisition as a platform for its shipping line subsidiary, Unifeeder, to launch Black Sea operations, linking Ukraine with its facilities in Constanza and the Turkish port of Yarimca.



'This acquisition helps make Ukraine's trade more resilient during challenging economic times and gives us the potential to offer a unique Black Sea product by linking its terminals in Constanza and Yarimca with TIS Container Terminal using its Unifeeder network,' said DP World.



The terminal has 470 metres of quay and a depth alongside of 16 metres, plus considerable spare capacity - according to eeSea data, it boasts an annual capacity of 500,000 TEU but handled around 145,000 TEU last year.


SeaNews Turkey

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