DP World is a major operator of marine ports with 49 terminals in operation and a further 9 under development across 31 countries. In 2010, DP World handled nearly 50 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia. With a pipeline of expansion and development projects in key growth markets, including India, China and the Middle East, capacity is expected to rise to around 92 million TEU by 2020, in line with market demand. It employs 30,000 people. A majority of the company is owned by Dubai World.
The company was founded in 2005 by merging Dubai Ports Authority and Dubai Ports International (which had been founded in 1999). It purchased Peninsular and Oriental Steam Navigation Company (P&O) of the United Kingdom in 2006 for £3.9 billion ($7 billion), which was at the time the world's fourth largest ports operator. Shares representing 23% of the company were floated on the NASDAQ Dubaistock exchange in 2007. The company does not currently operate in the United States where its purchase of a number US ports led to high level controversy.
DP World was created in 2005 by a merger between the Dubai Ports Authority (DPA) and an Dubai Ports International (DPI) which had been founded in 1999. It purchased CSX World Terminals (CSX WT) in 2005 and the Peninsular and Oriental Steam Navigation Company (P&O) in March 2006. P&O was the fourth largest ports operator in the... Read More