DP World will begin work next month on a new fourth berth at its London Gateway logistics hub to increase supply chain resilience and create more capacity for the world’s largest vessels, according to the company’s release.
The £300m sum – which builds on the £2bn investment DP World has made in Britain over the last decade – represents the next step by the leading global provider of smart logistics in delivering integrated supply chain solutions for customers.
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: “I am delighted to announce that we will go ahead with our latest major investment in the UK, which will give London Gateway more capacity to handle the world’s largest vessels than any other port in the country.”
“As a central pillar of Thames Freeport, London Gateway’s new fourth berth will allow even more customers to benefit from world-class ports and logistics, with unrivaled global connectivity, on the doorstep of Europe’s largest consumer market. DP World plans to be at the heart of Britain’s trading future and this investment shows that we have the ambition and the resources to boost growth, support businesses, create jobs, and improve living standards.”
In the first six months of 2021 London Gateway saw a record throughput of 888,000 TEU, a more than 23 percent increase on the previous best performance for the first half of a year. The new fourth berth will raise capacity by a third and completion will coincide with the delivery of a new wave of 24,000 TEU vessels in 2023/2024, which will all be operated between Asia and Europe.
Along with the Port of Tilbury and Ford’s Dagenham plant, DP World London Gateway will form Thames Freeport after being awarded freeport status by the Government earlier this year, with the partners currently progressing the business case with a view to receiving formal accreditation. DP World Southampton has also been awarded freeport status as part of Solent Freeport, further cementing the critical role of both logistics hubs in the UK’s international trade.
About DP World
DP World is the leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe. DP World delivers services through an interconnected global network of 128 business units in 60 countries across six continents, with a significant presence both in high-growth and mature markets.