DP World is an Emirati multinational logistics company based in Dubai, United Arab Emirates. It specialises in cargo logistics, port terminal operations, maritime services and free trade zones. Formed in 2005 by the merger of Dubai Ports Authority and Dubai Ports International, DP World handles 70 million containers that are brought in by around 70,000 vessels annually. This equates to roughly 10% of global container traffic accounted for by their 82 marine and inland terminals present in over 40 countries. Until 2016, DP World was primarily a global port operator, but since then, it has acquired other companies up and down the value chain.
Sultan Ahmed bin Sulayem became chairman of DP World in 2007. He has been credited with transforming DP World from a regional ports operator into a global logistics firm. Sulayem resigned from DP World in 2026 after it came to light that Sulayem had an extensive relationship with disgraced child sex offender Jeffrey Epstein.
History
Early history
Dubai Ports International (DPI) was founded in 1999.[5] Its first project was at Jeddah, Saudi Arabia, collaborating with a local partner on the South Container Terminal (SCT). DPI then began operations at the ports of Djibouti in 2000, Vizag, India in 2002 and Constanța, Romania in 2003.[5] In January 2005, DPI acquired CSX World Terminals (CSX WT).[6] In September 2005 Dubai Ports International officially merged with the Dubai Ports Authority to form DP World.[7] The rapid expansion through acquisition continued in March 2006 when DP World purchased the fourth largest ports operator in the world, P&O, for £3.9 billion.
P&O operated major US port facilities in New York, New Jersey, Philadelphia, Baltimore, New Orleans, and Miami. Before the deal was secured, the arrangement was reviewed by the Committee on Foreign Investment in the United States headed by the US Treasury Department and including the Departments of State, Commerce, and Homeland Security. It was given the green light, but soon after, both Democratic and Republican members of Congress expressed concern over the potential negative impact the deal would have on port security.
On 22 February 2006, President George W. Bush threatened to veto any legislation passed by Congress to block the deal, which would be the first time in his presidency he would exercise the privilege. In a statement to reporters, Bush claimed, "It would send a terrible signal to friends and allies not to let this transaction go through."[8] On 23 February 2006, DP World volunteered to postpone its takeover of significant operations at the seaports and on 9 March 2006, it said that it would transfer its operations of American ports to a "US entity".[9]
The United States House of Representatives held a vote on 16 March 2006 on legislation that would have blocked the DP World deal, with 348 members voting for blocking the deal, and 71 voting against.[10] DP World later sold P&O's American operations to American International Group's asset management division, Global Investment Group for an undisclosed sum.[11]
In August 2006, DP World signed an agreement with the Port Qasim Authority, to invest in a new container terminal at Port Muhammad Qasim near Karachi and announced that it was in discussions with the Pakistani Government about the development of a container terminal at Gwadar in Balochistan.[12] DP World had been favourite to win the Gwadar concession, but withdrew from the bidding.[13] Gwadar Port was subsequently awarded to PSA (Port of Singapore Authority) and opened in March 2007.[14]
2006: US Port security
The ownership of various US ports by DP World (which had been acquired as part of the P&O deal) was seen as controversial by many in the United States even though it was supported by the US president George W. Bush; the US ports were sold shortly afterwards.
2022: UK mass redundancy
On 17 March 2022, P&O Ferries sacked its entire British work force and abruptly suspended its operations, cancelling all sailings and offloading passengers and cargo. Eight hundred UK staff were told in a video call that their employment was "terminated with immediate effect due to redundancy", and that their work would in future be undertaken by staff contracted to a third-party supplier. A spokesman for the National Union of Rail, Maritime and Transport Workers said that there had been no consultation with the staff or trade unions.[15] Staff on some ferries refused to leave their vessels. Some replacement staff, unaware of the circumstances or location of their deployment, declined to work,[16] and a recruitment agency who supplied replacement staff said that they were unaware of the plans.[17]
The method of the expulsion, overseen by ex-military security guards, has been criticised by government and business leaders, and Mark Russell, a non-executive director of DP World, resigned afterwards in disagreement. P&O Ferries had recently seen losses during the COVID-19 pandemic as well as deficits in its pension fund. Industry sources have also cited its high overheads and competition from Irish Ferries as contributory factors. Verity Slater, expert in maritime employment law at Stephens Scown, commented that P&O may not have to follow UK employment laws, since some of its ships are not registered in Britain.
Recent history
In June 2007 the company raised $3.25 billion in Islamic and conventional bond sales to refinance existing debt and fund expansion[19] and issued 3.818 billion shares, representing 20% of the company on the NASDAQ Dubai stock exchange in November 2007 in what was the Middle East's largest initial public offering (IPO) which raised 4.96 billion dollars.[20]
By 2008 the company was handing 46.8 million TEU worldwide, up 8% on 2007, with expansion and development projects in India, China, the Middle East, and elsewhere. Capacity was expected to rise to around 95 million TEU over the next ten years.[5]
In December 2009 Moody's downgraded DP World's financial status to junk after the Dubai 2009 debt standstill.[21]
Location of DP World's operations
DP World has a portfolio of 78 operating marine and inland terminals supported by over 50 related businesses in 40 countries across six continents.[45]
The table below lists current terminals and new developments managed by DP World.[46]
Corporate affairs
Supply chain security
DP World has been certified as a partner in the Customs-Trade Partnership Against Terrorism (C‑TPAT) initiative by US Customs and Border Protection – to date, the only international port operator to have achieved this recognition. This certification is primarily based on DP World's commitment to the independently audited international ISO 28000 security standards. DP World was the first global maritime terminal operator to achieve ISO 28000 supply chain security certification and is rolling out the standard to all its terminals.[47]
Counter-piracy
In June 2012, DP World convened the second high-level, public-private counterpiracy conference, in Dubai.[48] The Washington Post reported "Diplomats and business leaders...are pushing for stronger partnerships between the public and private sectors in combating piracy off the coast of Somalia".[49]
Startup accelerator
DP World and Innovation360 setup the TURN8 accelerator in 2013.[59]
Sport sponsorship
DP World sponsored the European Tour's season ending DP World Tour Championship, Dubai, played at Jumeirah Golf Estates.[60] DP World also supported the Hong Kong Open and the BMW PGA Championship at Wentworth Club. In November 2021, DP World invested US$400 million in the European Tour to become the tour's new title sponsor, with the tour being renamed as the DP World Tour.[61][62]
In the 2020 Formula One Season, DP World and Renault F1 Team have signed an agreement making DP World the Global Logistics Partner and title sponsor for Renault, renaming the team as Renault DP World F1 Team.[63]
In the 2020 season of the Indian Premier League, DP World is the Global Logistics Partner for the Royal Challengers Bangalore team.[64]