DP World taking majority stake in Ukrainian terminal

Dubai-based DP World is taking a majority 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine.

DP World’s P&O Maritime Services business already has 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,” fast expanding DP World stated in a release.

Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: “We are delighted to extend our Ukraine footprint with this venture and are excited about the significant growth potential of the terminal. Our goal is to build the industry’s leading data-driven supply chain solutions through our global portfolio, creating opportunities for our customers to realise game-changing value and accelerate their cargo deployments.”