{"id":212254,"date":"2019-04-12T07:00:00","date_gmt":"2019-04-12T10:00:00","guid":{"rendered":"https:\/\/anba.com.br\/?p=212254"},"modified":"2019-06-30T12:36:45","modified_gmt":"2019-06-30T15:36:45","slug":"dp-world-considering-more-latin-america-port-concessions","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/dp-world-considering-more-latin-america-port-concessions\/","title":{"rendered":"DP World considering more Latin America port concessions"},"content":{"rendered":"

S\u00e3o Paulo \u2013 The Dubai, UAE-based port operator\u00a0DP World<\/a> is considering investing in new Latin America seaport concessions next year. The announcement was made by DP World Operations director Mahmood Al Bastaki during the Latin America edition of the Global Business Forum\u00a0(GBF<\/a>) held by the Dubai Chamber of Commerce and Industry this week in Panama City. The news is from online magazine\u00a0Arabian Business<\/a>.<\/em><\/p>\n

The company is eyeing five to seven concessions across the region, although Arabian Business wouldn\u2019t mention in what countries.<\/p>\n

Al Bastaki\u00a0said the operator \u201chas a big focus\u201d on the region. \u201cThere are lots of ports that require advanced equipment and know-how,\u201d Arabian Business<\/em>. quoted the director as saying. DP World\u2019s latest move in Latin America was the acquisition of a 71.3% stake in\u00a0Chile<\/a> port operator Pulogsa last January.<\/p>\n

\u201cA port is a long-term investment. Wherever we go, we do capacity building, we create jobs for the local economy and local talent have an opportunity to get into a strategic business,\u201d he said.<\/p>\n

Al Bastaki said Latin America is particularly attractive to DP World for its relative stability compared with other parts of the world. \u201cIt (Latin America) is in good shape. Lately Venezuela has been having some problems, but other than that, the whole continent is in a safe condition,\u201d he said.<\/p>\n

Dubai newspaper Gulf News<\/em><\/a> quoted the director as saying geopolitics is impacting global trade, citing the examples of Venezuela, Sudan and Algeria. Algeria\u2019s president Abdelaziz Bouteflika recently stepped down amid protests, and this Thursday (11) saw Sudan\u2019s army oust president Omar Al Bashir, who\u2019d been in power for 30 years, also amid protests.<\/p>\n

\u201cThese things affect trading hubs, supply chains and goods movement. All these war countries when they are in crisis they will not get into consuming and spending and it will affect the world trade. We being in the business of port terminal operator we don\u2019t carry much cargo because there is no demand. So political stability plays a big role,\u201d he said.<\/p>\n

Al Bastaki said he expects to see Latin America trade soar, and mentioned operations in Brazil. \u201cBrazil was always the main player because of the size and due to manufacturing and exporting capabilities and there\u2019s been little bit slowdown and it is bound to grow because of the population increase.\u201d The company runs the\u00a0DP World Santos<\/a>\u00a0terminal\u00a0(pictured)<\/em>, previously named Embraport, on the S\u00e3o Paulo coast.<\/p>\n

Last year saw DP World invest USD 3 billion in diversifying its global portfolio. Investments included the purchase of 100% of Peruvian logistics company Cosmos Agency Maritima SAC in a USD 315 million deal that gave DP World a 50% stake in the Paita port, which is home to the country\u2019s second biggest shipping container terminal.<\/p>\n

Translated by Gabriel Pomerancblum<\/strong><\/p>\n

Press Release<\/div>\n","protected":false},"excerpt":{"rendered":"

So said Operations director Mahmood Al Bastaki during the Global Business Forum Latin America, in Panama. The Dubai-based port operator is currently active in Peru, the Dominican Republic, Argentina, Brazil and Chile.<\/p>\n","protected":false},"author":2316,"featured_media":212251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[8146,2257,38154,139,8089,1762,8091,8147,228],"class_list":{"0":"post-212254","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-al-bastaki","9":"tag-dp-world","10":"tag-dp-world-en-2","11":"tag-dubai","12":"tag-global-business-forum","13":"tag-latin-america","14":"tag-panama","15":"tag-port-operator","16":"tag-uae"},"wps_subtitle":"So said Operations director Mahmood Al Bastaki during the Global Business Forum Latin America, in Panama. The Dubai-based port operator is currently active in Peru, the Dominican Republic, Argentina, Brazil and Chile.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/212254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=212254"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/212254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/212251"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=212254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=212254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=212254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}