CEO of global port operating giant DP World, Sultan Ahmed bin Sulayem, has stated in a recent press conference that while DP World has looked into the US for opportunities, the Dubai-based company is yet to find a truly profitable investment option.
Sultan Ahmed bin Sulayem made the comments after Gulftainer, another major UAE-based operator, made a high-profile investment into the US market in 2018.
Gulftainer purchased the Port of Wilmington on the US East Coast, and has since made significant investments into the port area.
At a ceremony marking DP World’s excellent 2018 results, Sultan Ahmed bin Sulayem said: “As far as the United States, there’s nothing to stop us from going there, but we haven’t found an opportunity that is profitable.”
The DP World chief also pointed out that his company was looking at other opportunities worldwide.
According to reports, DP World is to invest US$12 million to improve operations at the Port of Berbera in Somaliland.
Suhail Al Banna, CEO and managing director of DP World Middle East and Africa, said: “The three mobile harbour cranes currently being commissioned are strategically important for the development of the Port of Berbera.
“They will enable more ships to be served at and ultimately increase the flow of trade to both the country and the region.
“As construction work for the expansion of the port progresses, we are witnessing a transformation in the capacity of this major infrastructure asset, benefiting people both here and across the Horn of Africa.”
DP World has significant history in the region after its operation at Doraleh Container Terminal was illogically seized by the Djiboutian government towards the end of 2018.
DP World has twice won a case at the International Court over its right to operate at the terminal.