DP World, one of the world's biggest port operators, is looking for acquisition opportunities in Turkey and Eastern Europe to grow its business, according to a senior executive.
The Dubai company currently operates terminals and logistics centres in countries including Romania, Ukraine, Bulgaria, Moldova, North Macedonia, Albania, Montenegro, Serbia, Cyprus and Greece.
“We are exploring markets,” Kris Adams, DP World's executive vice president of East Europe, said in Istanbul.
“It’s a logical question of the right opportunity at the right time,” he said. The container market in Eastern Europe is “very fragmented, where some consolidation is required and we definitely want to be part of that”, he added.
DP World's total revenue from its Eastern Europe operations in the first four months of 2025 rose 28.1 per cent year-on-year, while container volumes rose 17.5 per cent on an annual basis, according to data from the company.
“Revenues been growing quite rapidly, despite the fact that the market has been impacted by a number of geopolitical circumstances,” Mr Adams said.
“You've got the conflict in Ukraine, which is affecting the Black Sea economies. You've got the Red Sea passage, which has been obviously obstructed, which means that the voyage to get cargo here is a lot longer.”
With port operations spanning from Canada to Australia, DP World has been focusing on growing its business with new investments and acquisitions.
In May, the company revealed plans to invest $2.5 billion this year to expand its logistics network to boost international trade. The strategy includes launching major infrastructure projects in India, Africa, South America and Europe, it said in a previous statement.
DP World is also investing $1 billion in the London Gateway logistics hub to build two shipping berths and a second rail terminal. Acquisitions this year included taking full ownership of the Swissterminal in Europe.
DP World aims to expand further in Turkey, Mr Adams said. It currently operates two port terminals in Istanbul in partnership with Evyap Group which have a combined capacity of two million twenty-foot equivalent units (TEUs).
“Turkey is the most significant market in this geography, purely in terms of logistics market. It's a $92 billion market, of which we are [a] small part, but where we do have the ambition to grow,” he said.
“We are a port operator, but we're also a contract logistics operator, which means warehousing, and also a freight forwarder. We have some really good relationships, with Turkish Airlines for instance, and we fly a lot of cargo. Turkey is producer of a lot of fruits, etc, which we're carrying now all over the place, including the Gulf.”
The company aims to operate more warehouses in the country, he said. “We will grow our freight forwarding network, integrate [it] with our global freight forwarding network, and we will move into new territories within Turkey as well.”
The signing of the Comprehensive Economic Partnership Agreement between the UAE and Turkey in 2023 has also accelerated trade and investment in both directions, he said.
The UAE's non-oil trade with Turkey grew by 11.5 per cent on an annual basis to Dh148.9 billion ($40.54 billion) last year, official data shows.
Overall, DP World has passed 100 million TEUs of container-handling capacity across its global operations, it said this year. Its global gross container handling capacity increased by 5 per cent in 2024.
The Dubai company holds a 9.2 per cent share of the global container market, supported by a 33 per cent growth in capacity since 2014, it said in January.
Its revenue for 2024 grew 9.7 per cent to $20 billion on improved ports and terminals performance as well as contributions from new acquisitions and concessions. However, profit for the year was down 2 per cent at $1.5 billion due to higher finance costs.
World Mental Health Day
Killing of Qassem Suleimani
National Editorial: Suleimani has been killed, now we must de-escalate
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Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295
Plastic tipping point
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
COMPANY PROFILE
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Killing of Qassem Suleimani
National Editorial: Suleimani has been killed, now we must de-escalate
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Damien McElroy: A CEO tasked with spreading Iran's influence
Hussein Ibish: Trump's order on solid constitutional ground
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Killing of Qassem Suleimani
National Editorial: Suleimani has been killed, now we must de-escalate
Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Jack Moore: Why the assassination is such a monumental gamble
Matthew Levitt: Iran retains its ability to launch terror attacks
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Zayed Sustainability Prize
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
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Stamp duty timeline
December 2014: Former UK finance minister George Osbourne reforms stamp duty, replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
Up to £125,000 - 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; Over £1.5m – 12%
April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.
July 2020: Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.
March 2021: Mr Sunak decides the fate of SDLT holiday at his March 3 budget, with expectations he will extend the perk unti June.
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Twenty20 International series
Thu Oct 26, 1st T20I, Abu Dhabi
Fri Oct 27, 2nd T20I, Abu Dhabi
Sun Oct 29, 3rd T20I, Lahore
Tickets are available at www.q-tickets.com
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The national orchestra
Mohammed bin Zayed Majlis
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Manchester United 1 (Fernandes pen 2') Tottenham Hotspur 6 (Ndombele 4', Son 7' & 37' Kane (30' & pen 79, Aurier 51')
Man of the match Son Heung-min (Tottenham)
Tomorrow 2021
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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The specs: 2018 Maxus T60
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Company profile
Company name: Suraasa
Started: 2018
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Based: India, UAE and the UK
Industry: EdTech
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Jack Moore: Why the assassination is such a monumental gamble
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2.
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5.
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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Results
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KILLING OF QASSEM SULEIMANI
National Editorial: Suleimani has been killed, now we must de-escalate
Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Jack Moore: Why the assassination is such a monumental gamble
Matthew Levitt: Iran retains its ability to launch terror attacks
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Killing of Qassem Suleimani
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Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Jack Moore: Why the assassination is such a monumental gamble
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Damien McElroy: A CEO tasked with spreading Iran's influence
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