Global ports operator DP World and industrial engineering firm SMS Group entered into a joint venture that aims to change the way that containers are handled in ports.
The companies announced "Boxbay", a new and 'smart' shipping container storage system that will be ready in time for the Dubai Expo 2020, with a pilot project scheduled at Jebel Ali Terminal 4, DP World said on Wednesday.
DP World said the system is touted as faster, cheaper and safer than traditional methods of moving and storing containers.
"We are excited by the prospects for Boxbay as handling speed and efficiencies are key aspects of the ports and terminals business and the system is a major development for the sector around the world," Sultan bin Sulayem, DP World's chairman, said. "We continue to explore new technologies that push boundaries, disrupt and add value for our operations and customers."
Dubai will host the Expo 2020 event that's expected to contribute Dh122.6 billion to the UAE's economy in the period from 2013 to 2031, according to a study released this week by auditing firm Ernst & Young.
The design and rack structure of the Boxbay system means that containers are stored up to eleven stories high, offering the same capacity of traditional terminals but in a third of the surface area, the company said.
The system eliminates unpaid and unproductive reshuffling because it's fully automated and has direct access to each container, according to DP World.
"It also features significant gains in handling speed, energy efficiency, safety and a major reduction in operating costs," DP World said.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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