Skip to content Skip to Search
Skip navigation

DP World and Rosatom to develop new shipping route

By Pramod Kumar
DP World's collaboration with Rosatom aims to develop an additional trade route for maritime container shipping Wam
DP World's collaboration with Rosatom aims to develop an additional trade route for maritime container shipping

Global ports operator DP World and Russian state nuclear company Rosatom have established a joint venture (JV) to develop transit container shipping along the Northern Sea Route (NSR).

International Container Logistics was registered in Moscow this month according to Russian news agency Interfax, citing data in the Unified State Registry of Legal Entities. 

Rosatom Cargo owns 51 percent of the JV, while DP World Russia holds the remaining 49 percent stake.

The new venture has an equity capital of 960 million rubles ($10.28 million), with Alexei Levitsky named as general director.  

The collaboration aims to develop an additional trade route for maritime container shipping via the NSR, Rosatom said, adding that completing the design of the infrastructure facilities along the route and work schedule are among the immediate tasks.

In 2021, Rosatom and DP World signed an agreement to jointly develop and design pilot container ships for the Northern Maritime Transit Corridor project. 

The two companies signed an additional cooperation agreement during the St. Petersburg International Economic Forum 2023 for joint development of Euro-Asian transport logistics and container shipping along the NSR.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]