DP World has reported concluding the acquisition of a 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine. ‘This acquisition establishes DP World in a highly attractive market, we look forward to contributing our experience, expertise and resources to the continued development and growth of the TIS container terminal,’ the company said in statement.
This project will be DP World’s second partnership with TIS shareholders, the first being the partnership in the P&O Maritime Ukraine which provides harbour towage services in the principal Black Sea ports in the Ukraine.
‘This acquisition helps make Ukraine’s trade more resilient during challenging economic times and gives DP World the potential to offer a unique Black Sea product by linking its terminals in Constanta and Yarimca with TIS Container Terminal using its Unifeeder network,’ DPW said.
The company believes the Ukrainian container market growth of over 20% in 2019 is an attractive market to enter.