DP World signs partnership with Turkish port operator

Wam

Global port operator DP World has signed a partnership deal to strengthen its position in Turkey.

The equity agreement between DP World Yarimca Port and Turkey’s Evyap Group will secure supply chain services in the critical Marmara gateway market.

The transaction remains subject to regulatory approvals.

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Once complete, DP World will own 58 percent of Evyap Port and Evyap Group will own 42 percent of DP World Yarimca.

The new business will be named DP World Evyap Port.

Operating at the easternmost edge of the Sea of Marmara in Izmit Bay, DP World Yarimca opened its container terminal in 2016.

The facility handles an annual 700,000 20-foot equivalent units (TEUs) and has capacity for 1.15 million TEU.

A TEU is a shipping container whose internal dimensions measure 20 feet long, 8 feet wide and 8 feet tall.

Evyap Port, also in Izmit Bay, was set up in 2003 and is Turkey’s fourth largest private port, with a capability to handle 855,000 TEU per year.

“The collaboration seeks to improve productivity, reduce turnaround times, ensure security, and broaden service offerings, benefiting Turkish trade” a release from DP World said.

DP World reported a drop in profits for the first six months of the year by almost 10 percent, despite revenues increasing by 14 percent.

As well as plans in Turkey, projects to be completed this year include the Dominican Republic, Egypt and Saudi Arabia.