Posted by Neil King
Dubai Ports World is now the third largest port operator in the world, it has been revealed.
Data released by London-based Drewry Shipping Consultants shows that DP World handled 31.5 million containers last year, beating Holland-based APM Terminals which handled 31.1 million, Emirates Business 24/7 reported.
As the newspaper observed, the Dubai company was able to overtake its rival by opening new ports and registering a smaller decline in cargo handling.
DP World currently has 50 terminals and 11 new developments across 31 countries, as well as a staff of nearly 30,000.
It was also noted that the operator commands a 6.7 per cent global market share, behind only Hutchison Port Holdings of the British Virgin Islands at 6.8 per cent and Singapore's PSA International at 9.5 per cent.
Meanwhile, it was reported this week that Gulf Metal Craft (GMC), a subsidiary of Masharie, the private equity arm of Dubai Investments and the leading manufacturer of metal enclosures in the UAE, is to double production capacity by expanding its existing factory in Jebel Ali, Dubai.