DP World acquires Fraser Surrey Docks in Canada

DP World

Photo has been used for illustrative purposes.

DP World, the leading enabler of global trade, and one of the world’s largest port operators, announced on Tuesday it has completed the acquisition of Fraser Surrey Docks from Macquarie Infrastructure Partners, alongside its partner, Caisse de depot et placement du Quebec, thus complementing DP World’s footprint in Canada, which also includes terminal operations in Vancouver, Nanaimo, Prince Rupert and St. John’s.

The integrated coast-to-coast platform provides customers with bulk, breakbulk and general cargo services. Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World, said, “The acquisition of Fraser Surrey Docks bolsters our footprint on the west coast of Canada.

DP World has been seeing growing demand from our customers for multi-purpose facilities in the region and we believe Fraser Surrey Docks has the relevant infrastructure and is in the right location to service this demand. We are confident that our innovative approach will bring DP World’s best-in-class terminal operations to Fraser Surrey Docks.”  Matt Leech, CEO and Managing Director, DP World Americas, said, “This new addition to DP World’s portfolio provides unique prospects for additional growth in the dynamic Canadian business environment. We look forward to helping Fraser Surrey reach its full potential and generating greater value over the long-term for DP World and its customers.”

Fraser Surrey Docks was founded in the early 1960s and has become the largest modern and multi-purpose terminal on the West Coast of North America. It operates more than 1,200 metres of berth, 189 acres of yard and is one of the region’s major steel import terminals. It moves approximately one million tonnes of agriproducts annually and serves several container lines, handling over 350,000 TEU in 2019.

DP World (Canada) Inc. General Manager, Maksim Mihic, noted, “DP World strives to create positive impacts for our people, our customers and the communities in which we operate. The addition of Fraser Surrey Docks will create new jobs, and provide overall economic benefit to our community, the Province of British Columbia and to Canada as a whole.”

DP World has been a significant investor in Canada. As the operator of three terminals on Canada’s West Coast, the company provides a key gateway between Asia and the Pacific North West and looks forward to Fraser Surrey becoming the leading stevedore and general cargo operator in Canada. Meanwhile, Breakbulk Middle East (BBME) 2020, the two-day GCC-based breakbulk and project cargo event, will officially kick off on Tuesday.

After a year-long process of laying down foundational groundwork, the comprehensive conference and exhibition is ready to help guide the regional industry to the next level. BBME 2020 is being held under the patronage of  Dr. Abdullah Belhaif Al Nuaimi, the UAE Minister of Infrastructure Development and Chairman of the Federal Transport Authority (FTA) for Land and Maritime.

The event will occur on the 25th and 26th of February, at the Dubai World Trade Centre in Dubai, UAE. The opening ceremony for BBME 2020 will take place in Za’abeel Hall 5 at the Breakbulk Main Stage at10:00 am sharp. With over 125 exhibitors, and more than 4000 anticipated visitors, the event is on pace to experience an unprecedented amount of participation.

Moreover, the event’s conveniently located venue will attract more than 1700 companies from over 75 countries to represent the international strength of the industrial supply chain. Dr. Abdullah Belhaif Al Nuaimi, the UAE Minister of Infrastructure Development and Chairman of the Federal Transport Authority (FTA) for Land and Maritime commented, “This year marks the beginning of an important decade for the UAE, with Expo 2020 positioned to be at the forefront of the many milestone achievements that the country expects to accomplish.

With regional infrastructure investment rising, optimism is emitting itself from the GCC and Middle East. Accordingly, we will leverage Breakbulk Middle East’s robust representation of the industrial supply chain to build greater momentum into Expo 2020.” Al Nuaimi added, “The UAE has been diligently working to diversify and integrate our economy.

The successful realization of this will set up the country to thrive for years to come. In turn, we will be able to better serve the best interests of the region to ultimately benefit the global economy. With a huge variety of projects rising in the region, the next two days should prove useful in making progress to fast-track the UAE’s ambitions.”

Chiming in, Eng.

Ahmed Al Khouri, Director-General of the Federal Authority for Land and Maritime Transport added, “The UAE’s firm commitment to fostering its shipping infrastructure and functionality involves addressing key points of focus which can be greater strengthened.

Agencies

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