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.