DP World-CDPQ platform secures funds for new terminal investments

first_img Despite the impacts of COVID-19 and shifts in the global supply chain landscape, the ports sector has demonstrated a fair degree of resilience. Through recent strategic investments in automation and digital technology, DP World said it has strengthened its logistics capabilities, combined with the maritime services operations and worldwide network of ports and terminals, to provide a full suite of end-to-end smart supply chain solutions. “The partnership between DP World and CDPQ has been very successful, and we have benefited from each other’s expertise. The opportunity landscape for the port and logistics industry is significant and the outlook remains positive as consumer demand triggers major shifts across the global supply chain,” Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, commented. As informed, the commitment increases the total size of the platform to $8.2 billion.  “Building on the success of the first collaboration with our strategic partner, DP World,… the enhanced platform will seek investments in high-quality port and terminal infrastructure assets that will help design the future of smart trade and logistics,” Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ, said. Since its launch in December 2016, the platform has invested in ten port terminals globally and across various stages of the asset life cycle. In the first half of 2020, the port operator reported a profit attributable to owners of $313 million, a decrease of 58.5 per cent from $753 million seen in the corresponding period a year earlier. DP World controls 55 per cent share of the platform, while CDPQ holds the remaining 45 per cent. center_img According to DP World, the enhanced platform will continue to target assets globally, but with an increased scope to broaden its footprint in new and existing geographies, such as Europe and Asia Pacific. The investment platform will pursue its deployment and diversification objectives by expanding across a wider part of the integrated marine supply chain, such as logistics services linked to terminals. “As we take the next step in our partnership, we will further diversify our geographic reach and look to seize new opportunities in a sector that, even during a uniquely challenging period, is driven by long-term fundamental trends.” Dubai-based port and terminal operator DP World and Canada’s insitutional investor Caisse de dépôt et placement du Québec (CDPQ) have announced the expansion of their ports and terminals investment platform through a new commitment of $4.5 billion. “(W)ell connected ports and efficient supply chains will continue to play an active role in advancing global trade and cultivating the business environments closest to their operations. Alongside CDPQ, … we look forward to working together on new investments that will connect key international trade locations worldwide.” On the other hand, the company reported revenue growth of 17.7 per cent on a reported basis having booked $4.07 billion in revenue for the period. DP World said the results were better than expected given the negative impact of COVID-19 on the world trade.last_img read more

Beat writers unanimous in Syracuse-North Carolina predictions

first_imgNo. 9 Syracuse (7-3, 1-2 Atlantic Coast) travels to No. 18 North Carolina (7-4, 1-2) to wrap up SU’s regular-season conference slate. The Orange have won two-straight  and are coming off a rout of Cornell last Tuesday. Here’s how our beat writers predict the SU-UNC matchup to shake out. Michael McCleary (7-3)Blue sings the BluesSyracuse 15, North Carolina 11Syracuse’s regular-season ACC finale is a long ways away from central New York, but that probably won’t matter. The Orange have proven over the course of the season that this is a game it should win. On paper, the Tar Heels are a formidable opponent for the Orange. A No. 12 ranking in scoring offense and and No. 22-ranked defense and a 7-4 record nearly mirror SU’s standing. That won’t matter. Syracuse took two top-5 offenses over the past two games and made them look almost ineffective. It’s stormed back for huge offensive performances against top-ranked defenses. The Orange will continue its season-long trend,  finish the season strong after a bizarre opening stretch and get one step closer to a first-round bye in the ACC Tournament.Andrew Graham (6-4)Ceilings and roofsSyracuse 14, North Carolina 10AdvertisementThis is placeholder textIn Syracuse’s regular-season ACC finale, a win moves the needle closer to a No. 2 or No. 3 seed while a loss almost certainly dooms SU to the play-in game. Hence, I think the Orange start hot like they did against Cornell and make this one pretty simple, albeit closer. North Carolina is a bit enigmatic in that, though it’s roster is young, it’s just as talented as any team in the conference. SU players warned about this, and not overlooking younger players. But after back-to-back smotherings of top offenses, I feel like the Orange is finally on a roll for good. The defense and Drake Porter have been on the same wavelength since Notre Dame and the offense has come into its own of late. Syracuse gets a critical conference win on Saturday.Nick Alvarez (5-5)Turning HeelSyracuse 14, North Carolina 8Reason dictates that Syracuse should win this game. At points this season, though, that rationale had led to SU’s biggest losses, see Notre Dame and Colgate. But with a top-three seed in the ACC tournament on the line, the Orange should handle North Carolina. In the last two weeks, SU has handled top-tier offenses thanks to Nick Mellen and Tyson Bomberry. Expect that to happen again on Saturday to UNC’s top-15 attack. If Syracuse’s pregame warmup switch continues to pan out and it can avoid another slow start, then SU should win its third-straight. Comments Published on April 13, 2019 at 12:26 pm Facebook Twitter Google+last_img read more

Alderweireld’s Spurs future unsure after Juventus axe

first_img0Shares0000Toby Alderweireld’s future at Tottenham hangs in the balance after losing his place in the side © AFP/File / Ian KINGTONLONDON, United Kingdom, Feb 12 – Toby Alderweireld’s time at Tottenham Hotspur could be coming to an end following British media reports on Monday he had not travelled to Italy for the club’s Champions League tie away to Juventus.The Belgian defender’s current contract with the Premier League side expires at the end of the season and he has not featured in manager Mauricio Pochettino’s team since appearing for the full 90 minutes in the FA Cup replay win over Newport County. Alderweireld, who spent several months on the sidelines with a hamstring injury, was left out of Spurs’ 1-0 win over Arsenal in the North London derby at Wembley on Saturday, after which Pochettino insisted he had selected his best side to beat the Gunners.A Tottenham spokesman was unavailable for comment when contacted by AFP in London.Spurs are currently fourth in the Premier League table but still a massive 20 points adrift of runaway leaders Manchester City.0Shares0000(Visited 1 times, 1 visits today)last_img read more