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Tag Archives: DP World

QICT, Maersk evading billions of rupees sales tax with SRB connivance?

KARACHI: Top officials of Sindh Revenue Board (SRB), Qasim International Container Terminal (QICT) and M/s Maersk Pakistan (Pvt) Ltd are allegedly involved in country’s biggest ports and shipping scandal worth billions. SRB’s active connivance with QICT and Maersk is suspected as it is not taking any action against these companies for evading billions of rupees sales tax. Sources said QICT ... Read More »

Indians working at QICT without MOI clearance pose security risk: Qazi Jaffar

PESHAWAR: The Indians working unlawfully at Qasim International Container Terminal (QICT) without the issuance of No Objection Certificate (NOC) by the Ministry of Interior (MOI) might be a national security risk. The law enforcement agencies must hold the license of M/s QICT due to its operations without clearance of MOI. Talking with Customs Today, advocate Peshawar High court Qazi Jaffer expressed shock ... Read More »

Customs issues notice to Maersk for cancellation of license; goods loaded may not reach Pakistan

KARACHI: Model Customs Collectorate of Preventive, Karachi has issued a notice to M/s Maersk Pakistan (Pvt) Ltd as it started the process to cancel license of the company for sheer violation of the Customs Act 1969 and SRO 1220(I)/2015. Maersk Line and its subsidiary M/s Maersk Pakistan (Pvt) Ltd kept on harassing and blackmailing importers to get additional demurrage and ... Read More »

QICT poses threat to nation with discreet Habibullah control

KARACHI: The National Accountability Bureau (NAB) and Federal Investigation Agency (FIA) received a complaint seeking probe to ascertain link of Habibullah Khan with Qasim International Container Terminal (QICT) / DP World in parking billions of rupees black money. Habibullah Khan, the alleged mastermind of Panama-like offshore companies having questionable financial backing controlling one of the strategic assets of Pakistan in ... Read More »

FIA asked to probe QICT /DP World, Maersk involvement in Rs610b mega scam

KARACHI: The Federal Investigation Agency (FIA) has received a complaint seeking probe to ascertain role of 65 employees of QICT / DP World and Maersk in country’s biggest shipping scandal involving 610 billion rupees. The complaint received by the FIA demanded legal action for recoveries of amounts looted and recovering losses of Rs. 610 billion to the national exchequer per ... Read More »

NAB asked to probe Habibullah link with QICT / DP World in parking billions of rupees black money

KARACHI: The National Accountability Bureau (NAB) has received a complaint seeking probe to ascertain link of Habibullah Khan with Qasim International Container Terminal (QICT) / DP World in parking billions of rupees black money. A local newspaper reported that Habibullah Khan recently declared liquid assets of $1.25 billion outside of Pakistan in the single largest Amnesty declaration in the South ... Read More »

Maersk ship arrested, executives of QICT/DP World may also get arrested soon

KARACHI: Shipping Watch reports that Maersk ship is recently arrested in Tunisia by displeased Honam customers who were demanding their lost money due to negligence of the shipping line. Experts say that their displeased customers across the globe may take a cue from this incidence due to criminal activities of Maersk and QICT/DP World. Maersk Line recently changed its ownership ... Read More »

FIR application against Maersk and QICT for taking illegal charges & holding goods

KARACHI: Shipping line Maersk, its subsidiary in Pakistan, M/S Maersk Pakistan (Pvt) Ltd and Qasim International Container Terminal (QICT) are blackmailing genuine importers through illegal holding & blocking of their imported goods for the sake of demanding additional demurrage and detention charges in violation of relevant customs laws. Importers have filed application to lodge FIR against this shipping line, its ... Read More »

DP World, Kazakhstan to build port system for Eurasian corridor

DUBAI: Global operator of marine and inland terminals, DP World today said it has inked two pacts with Kazakhstan for developing a port community system (PCS) for Eurasian Transcontinental Trade Corridor. PCS is one-stop electronic platform developed by DP World company Dubai Trade which enables the exchange of information between organisations involved in maritime, inland and airport processes. “Two Memorandums ... Read More »

DP World, Egypt discuss expansion of Sokhna port

DUBAI: UAE-based global ports operator DP World and Egypt’s General Authority for Investment and Free Zones have discussed a proposal to increase the capacity of Sokhna port in Egypt. The port, operated by DP World, sits south of the Suez Canal on the Red Sea on a busy maritime trade route from Asia to the Middle East and beyond, to ... Read More »

DP World’s Antwerp Gateway to get major crane upgrade from 3 Kalmar STS

PARIS: Three Kalmar STS cranes operated by DP World at the global port operator’s Antwerp Gateway are to be heightened by 6m to allow the port to accommodate larger container ships. The project is to be undertaken by Kalmar, which will carry out all planning and engineering, including the installation of leg extensions underneath the portal beams in the existing ... Read More »

UAE, UK struggle to expand $25b trade volume till 2020

DUBAI: The governments of the United Kingdom and UAE aim to double the value of trade between the two countries to £25 billion (Dh142.29bn) a year by 2020. Just over £12bn of goods and services were exchanged between the two countries in 2014, according to the UAE-UK Business Council. The UAE is the UK’s largest export market in the Arabian ... Read More »

DP world returns to market after 8 years interval

DUBAI: Dubai port operator DP World is returning to the bond markets after an eight-year hiatus as the Gulf emirate seeks to cement its role as a global trading hub. The offering would be DP World’s first straight bond sale since 2007 and comes just weeks after the company announced $3.1 billion of acquisitions in Canada and Dubai. DP World, ... Read More »

4.4% of Dubai’s GDP comes from maritime sector: Chairman DP World

DUBAI: Chairman of DMCA, Sultan Ahmed bin Sulayem, Customs, and Free Zones Corporation and DP World, said on the side lines of a DMCA coordinating supervisory meeting that the maritime sector now accounts for more than 4% of Dubai’s GDP. Sulayem also called for the joint efforts of all stakeholders of maritime affairs in the emirate to be increased to ... Read More »

Dubai Port Company purchases Canadian terminal worth $457m

DUBAI: Dubai-based port operator DP World says it has reached a deal to acquire the Fairview container terminal in Canada from Deutsche Bank for $457 million. The port company said that the deal represents a “growth opportunity in a market with attractive and growing demand.” Fairview is located in Prince Rupert, British Columbia, and has the capacity to handle the ... Read More »

DP World to facilitate Port of Antwerp’s development with open access container terminal

BRUSSELS: In a bid to boost business growth for the Port of Antwerp, global terminal operator DP World is helping to facilitate the port’s development with a new open access container terminal, which will be built alongside the Albert Canal in Grobbendonk. The partnership between the Port Authority and DP World to set up an open access container terminal alongside ... Read More »

DP World profit up 25% as revenue grows

DUBAI: DP World Chairman, Sultan Ahmed bin Sulayem, said that DP World earned double digit growth of over 25 percent till the end of December 31, 2014. Like-for-like revenue grew 11.3 per cent and adjusted EBITDA increased 16 per cent, delivering profit attributable to owners of the company, before separately disclosed items of $675 million, up 25.1 per cent on ... Read More »

Dubai port earns $675m revenue in 2014

DUBAI: Dubai-based international port operators said that Dubai ports earned $675 million revenue in 2014, a profit rose 12 percent as compared to $604 million in 2013. DP World ranks among the world’s largest port operators, with business at more than 65 marine terminals globally. It is heavily focused on fast-growing developing markets, and it runs the Middle East’s busiest ... Read More »

Kuwait, Dubai trade mounts to AED 10.3 billion in 2014

KUWAIT CITY: Dubai and Kuwait are both working on some high level projects. Kuwaiti Customs delegation was welcomed in Port DP by Sultan Ahmed bin Salayem, Chairman of DP World, where more hopes of mutual cooperation were reflected on the future of both’ countries. Dubai Customs received a high-level delegation from Kuwait Customs to reinforce inter-GCC cooperation and exchange of ... Read More »

DP World gets $2.6b contract of Dubai’s Jebel Ali port

ABU DHABI: DP World, being one of the largest port operators said that $2.6b acquisition would help flourish Jebel Ali port’s operations and Free Zone Complex along with increasing earnings by 15%. EZW’s primary business unit is a vast commercial and industrial logistics park adjacent to the port. The two firms are both majority owned by the government through its ... Read More »