Tuesday, August 2, 2016

DP World Establishes Another Container Freight Terminal Agreement in Canada

Investment Will Bring Atlantic Gateway Up to Modern Standards
Shipping News Feature
CANADA – UAE – Port and logistics management group DP World has signed a long-term lease agreement for the expansion and operation of the multi-purpose Rodney Container Terminal at Saint John, New Brunswick, Canada. The Dubai based company will commence the running of existing freight operations from the beginning of 2017 and, in company with the Saint John Port Authority, work on a planned expansion programme for the ensuing four years with a lease continuing for another thirty years thereafter.

Saint John is the only Canadian Atlantic port that is served by the country’s Class I railways, Canada National Railway (CN) and Canada Pacific Railway (CP) and is CP’s only Atlantic gateway port. The lease will follow the Port Authority’s completion of the expansion works, which will create a 350 metre long deep-water berth, an enhanced stacking area and a 12,000 foot intermodal rail yard capable of handling a full train. Jim Quinn, CEO, Saint John Port Authority, said:

“We are delighted to welcome DP World as the new operator of Rodney Container Terminal and to share in the expansion project for the terminal. The commitments that DP World has made to invest in equipment and systems, commercial promotion and sustainability are critical for the long-term success of the project.”

DP World is already a major investor in Canada operating the CENTERM terminal in Vancouver, the Fairview Terminal in Prince Rupert and the Duke Point Terminal in Nanaimo. Its entry into Saint John will focus on Canada’s trade with Europe and Latin America increasing sector competition in eastern Canada. Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, commented:

“We are delighted to further extend our presence in Canada to the Port of Saint John, New Brunswick. We believe that the future growth prospects for the port are strong and we are excited to be participating with Saint John Port Authority in their expansion plans. Our investments and commitment to Canada are for the long term, contributing to trade and the development of its national and local economies as well as providing employment for people with a leader of world trade. Our international experience and expertise will be further enhanced with this project.”

DP World’s involvement in Saint John is expected to bring significant benefits to importers and exporters in New Brunswick and the Maritimes, a region of Canada that also includes other Atlantic Provinces Prince Edward Island, Nova Scotia and Newfoundland. The transaction is apparently not subject to any pre-closing Canadian regulatory approvals and the investment will mean the installation of modern container handling equipment capable of serving post-Panamax container vessels with additional gantry cranes and container handling equipment in line with the Port Authority’s expansion works programme.

Photo: Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World at the signing of the long-term lease agreement for the expansion and operation of the multi-purpose Rodney Container Terminal at Saint John, New Brunswick, Canada.