Dubai-Based Global Port Operator Commits to Green Shipping Challenge
Dubai-based global port operator DP World plans to invest up to US$500 million to reduce carbon dioxide emissions by 700,000 tonnes over the next five years.
DP World’s plans, which would cut emissions by 20 percent from 2021 levels, include transitioning its port and terminal equipment from diesel to electric, investing in renewable power and exploring the use of alternative fuels.
Via a video link address to delegates at the COP27 climate summit in Sharm El-Sheikh, DP World’s chairman and CEO Sultan Ahmed Bin Sulayem also restated the operator’s commitment to the Green Shipping Challenge, or GSC, a worldwide initiative encouraging governments, ports, carriers, shippers and others in the industry to improve maritime emission levels.
“We have already committed to becoming a carbon neutral enterprise by 2040 and net zero carbon enterprise by 2050,” Bin Sulayem said. “We will work with our global partners to develop an action plan to advance the goals of the GSC and encourage industry players to devise plans to address climate change.”
“Decarbonising the maritime industry requires the complete rewiring of the entire system, imagining new supply chains and structures. It is a huge undertaking, but one that we are ready to venture into.”
DP World operates a network of 295 businesses in 78 countries across six continents. The company’s UAE division operates Jebel Ali Port in Dubai – the Middle East’s busiest shipping destination.
In the third quarter, DP World handled 20.1 million twenty-foot equivalent units, or TEUs, across its global network of terminals, a year-on-year increase of 1.5 percent. In the first nine months, volumes were up by 2.0 percent to 59.6 million TEUs.
“Growth in the third quarter was primarily driven by a solid performance across our Asia Pacific, Americas and Australia terminals. Encouragingly, our flagship port of Jebel Ali continues to deliver robust volumes with growth of 2.0 percent year-on-year,” Bin Sulayem said in a filing.
“Looking ahead, the near-term outlook remains uncertain given the geopolitical environment, inflationary pressures and currency fluctuations, but we remain positive on the medium to long term outlook for global trade. Overall, given the solid nine-month volume performance, we expect to deliver an improved set of full year results.”
DP World will be sponsoring Breakbulk Middle East on 13-14 February 2023 at the World Trade Centre in Dubai. To reserve your ticket to the region’s largest gathering of breakbulk and project cargo professionals, click on the link below.
