DP World Acquires majority stake in terminal
DP World Acquires Majority Stake in Terminal
February 13,2020– PortStrategy.com
DP World has agreed to acquire a majority 51% stake in a Ukraine container terminal. The stake in TIS Container Terminal in the Port of Yuzhny, Ukraine complements the existing operations of DP World’s P&O Maritime Services business through a joint venture with TIS Group, providing tugging, pilotage and other marine services in several Ukrainian ports. The Ukrainian container market grew over 20% in 2019, and TIS Container Terminal has one of the most efficient railway connections in the region to major Ukrainian cities, supporting trade flows to the hinterland.