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            october 15, 2019

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DP World has failed to fulfil obligations


The Yemen Gulf of Aden Port Corp. is believed to have raised concerns that DP World has failed to fulfil obligations stipulated in a 2008 agreement, to jointly develop and operate Aden Port.
A report by Port Technology International said the Yemen port authority will attempt to renegotiate the deal with DP World.
Yemen's transport minister, Waaed Bazeeb, was cited as saying in a Reuters' report that DP World had fallen short of its target of achieving a raised capacity at the container port of 900,000 TEU by the end of 2011.
According to Mr Bazeeb, the global port operator is also yet to improve and build new infrastructure as stipulated in the original agreement, including the build of a key berth extension.
"According to the operating agreement, the company was obligated to raise the number of containers arriving at the port to 900,000 by the end of last year. The number is not higher than 140,000 containers," Mr Bazeeb was quoted as saying.
"Consequently, we have decided to renegotiate with the company regarding fulfilment of its obligations."
The report added that the 2008 deal was to include US$220 million of investment to develop the port.
The logistics group's LCL network currently comprises 45,000 international point pair combinations and 2 million cubic metres of consolidation loads per year, the Shipping Gazette reports.

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