Stena Impero Docks In Dubai After Detention By Iran

by Anna Ringstrom (Reuters) A British-flagged tanker that was detained by Iran for 10 weeks, docked in Dubai on Saturday, after a standoff that has stoked tensions along a vital global shipping route for oil. The Stena Impero, which sailed out of Iranian waters on Friday, was seized by Iran’s Revolutionary Guards on July 19, shortly after British forces detained an Iranian … [Read more...]

Drewry Sees DP World’s Traffic Jarred by Politics, Rival Port

By Verity Ratcliffe (Bloomberg) --U.S. sanctions against Iran and competition from Abu Dhabi are reducing traffic at DP World Plc’s home ports in Dubai, according to industry consultant Drewry. Traffic Woes Restrictions on cargo shipments to Qatar due to an embargo by the United Arab Emirates and some other Arab nations have also hurt container traffic in Dubai. However, … [Read more...]

DP World to Buy Dubai Maritime City and Drydocks World for $405 Million

DUBAI, Sept 18 (Reuters) - DP World, one of the world's largest port operators, has agreed to buy two fellow state-owned maritime companies from its parent for $405 million. DP World will acquire Dubai Maritime City owner Maritime World for $180 million and Drydocks World for a capital injection of $225 million from Dubai World, the port operator said in a statement on … [Read more...]

Uber Launching UberYACHT This Weekend in Dubai

The world's most popular ride sharing app is expanding its ever-growing modes of transportation to include luxury yachts. Silicon Valley-based Uber has announced the launch of UberYACHT to debut this weekend in Dubai. The launch further expands the company's motto of connecting people with reliable rides by car, helicopter, and even boats through the use of data and … [Read more...]

Dubai’s DP World Kicks Off $1.6 Billion Jebel Ali Port Expansion

  By Tom Arnold DUBAI, July 28 (Reuters) - DP World, one of the world's largest port operators, has started building a new $1.6 billion container terminal in Dubai in response to demand for more capacity and larger vessels, it said on Tuesday. Jebel Ali port, owned by DP World, has established itself as one of the largest container ports in the Middle East, … [Read more...]