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LCIA rules DP World contract ‘valid and binding’

According to a statement from the government of Dubai, the London Court of International Arbitration (LCIA) has ruled that DP World’s port container terminal contract in Djibouti is “valid and binding”.

HLPFI reported in February 2018 that the government of Djibouti had seized control of the Doraleh Container Terminal DP World.

DP World, which has operated the terminal since 2006, says it has acted in accordance with a concession awarded by the government. At the time, DP World described the seizure as "illegal" adding that it is "an oppressive and cynical" move in the government's campaign to force DP World to renegotiate the terms of the concession.

The LCIA tribunal has ruled that Doraleh Container Terminal’s concession agreement remains valid; DP World said it would now reflect on the ruling and review its options.

www.dpfza.gov.dj

www.dpworld.com  

Heavy Lift | News

Mozambique green-lights first LNG project thumbnail image

Mozambique green-lights first LNG project

June 27 - After years of delays and setbacks, US oil and natural gas exploration and production company, Anadarko, has been given the go-ahead to develop Mozambique’s first onshore LNG facility. 
Views: 34
Mohembo bridge parts move in Namibia thumbnail image

Mohembo bridge parts move in Namibia

June 17 - 10,720 tonnes of project cargo, destined for the Mohembo bridge project in Botswana, has moved through the port of Walvis Bay in Namibia.
Views: 1007
EGL delivers for Benban thumbnail image

EGL delivers for Benban

June 11 - Egyptian Global Logistics (EGL) has transported three transformers for the Benban solar power project, located in the eastern region of the Sahara Desert.
Views: 1269

Heavy Lift Across The World

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