DP World handled 16.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the second quarter of 2020. Bloomberg.
DP World handled 16.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the second quarter of 2020. Bloomberg.
DP World handled 16.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the second quarter of 2020. Bloomberg.
DP World handled 16.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the second quarter of 2020. Bloomberg.

DP World integrates its Unifeeder and Feedertech acquisitions


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Global port operator DP World integrated two of its logistics acquisitions, Unifeeder and Feedertech, to create a single platform for feedering services in Europe, the Middle East, Indian subcontinent and Southeast Asia.

The feedering and shortsea network will serve hundreds of ports around the world as DP World focuses on providing end-to-end supply chain solutions, the company said in a statement on Tuesday.

Feedering is a process of loading or unloading containers from large vessels using smaller boats called feeders, which takes place at a major port.

"Our smart logistics and feedering and short sea services, combined with our worldwide network of ports, terminals and storage facilities ... together with our increasing logistics capabilities on land ... mean that we can offer truly innovative solutions to our customers," Sultan bin Sulayem, chairman and chief executive of DP World, said.

Unifeeder and Feedertech both operate using an asset-light model.

"This flexibility has enabled DP World’s network to respond rapidly in enabling customers to keep trade flowing despite disruptions caused by the Covid-19 pandemic," the company said.

The Unifeeder Group is now working on further expanding its reach to include additional trade routes and destinations, according to the statement.

One example is in the UK where new services connecting DP World London Gateway with smaller British regional ports will enable containers to travel closer to their final destination by sea, providing a more sustainable and efficient way of transporting cargo than by truck, the company said.

DP World closed the €660 million (Dh2.75 billion) acquisition of Danish port-related logistics company Unifeeder in 2018.

Unifeeder, which recently acquired Feedertech, operates feeder and short sea services around northern Europe and throughout the Mediterranean and Northern Africa regions.

Feedertech provides similar services connecting ports in Southeast Asia, the Indian subcontinent and the Middle East.

The services have now been integrated onto one platform for a global "trade-oriented network", DP World said.

DP World’s Unifeeder and Feedertech platforms further boost the capabilities of its main ports in Dubai’s Jebel Ali, Jeddah Islamic Port and ports in India, Africa and Europe. This allows shippers and consignees worldwide to ship goods, through DP World’s major ports, to final destinations across the Middle East, South Asia, Europe and Africa using DP World’s integrated land and marine logistics network.

W.
Wael Kfoury
(Rotana)

Dubai Creek Open in numbers
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COMPANY PROFILE
Name: Mamo 

 Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua

 Based: Dubai, UAE

 Number of employees: 28

 Sector: Financial services

 Investment: $9.5m

 Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. 

 
Meydan race card

6.30pm: Baniyas (PA) Group 2 Dh125,000 (Dirt) 1,400m
7.05pm: Maiden (TB) Dh165,000 (D) 1,200m​​​​​​​
7.40pm: Maiden (TB) Dh165,000 (D) 1,400m​​​​​​​
8.15pm: Handicap (TB) Dh170,000 (D) 1,900m​​​​​​​
8.50pm: Rated Conditions (TB) Dh240,000 (D) 1,600m​​​​​​​
9.25pm: Handicap (TB) Dh175,000 (D)1,200m
10pm: Handicap (TB) Dh165,000 (D) 1,400m

The specs

Engine: 3.9-litre twin-turbo V8

Transmission: seven-speed

Power: 620bhp

Torque: 760Nm

Price: Dh898,000

On sale: now

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

500 People from Gaza enter France

115 Special programme for artists

25   Evacuation of injured and sick

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Bert van Marwijk factfile

Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder

Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia

Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands

Fight card

1. Bantamweight: Victor Nunes (BRA) v Siyovush Gulmamadov (TJK)

2. Featherweight: Hussein Salim (IRQ) v Shakhriyor Juraev (UZB)

3. Catchweight 80kg: Rashed Dawood (UAE) v Khamza Yamadaev (RUS)

4. Lightweight: Ho Taek-oh (KOR) v Ronald Girones (CUB)

5. Lightweight: Arthur Zaynukov (RUS) v Damien Lapilus (FRA)

6. Bantamweight: Vinicius de Oliveira (BRA) v Furkatbek Yokubov (RUS)

7. Featherweight: Movlid Khaybulaev (RUS) v Zaka Fatullazade (AZE)

8. Flyweight: Shannon Ross (TUR) v Donovon Freelow (USA)

9. Lightweight: Mohammad Yahya (UAE) v Dan Collins (GBR)

10. Catchweight 73kg: Islam Mamedov (RUS) v Martun Mezhulmyan (ARM)

11. Bantamweight World title: Jaures Dea (CAM) v Xavier Alaoui (MAR)

12. Flyweight World title: Manon Fiorot (FRA) v Gabriela Campo (ARG)

Sunday's fixtures
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