DP World not renewing Abu Dhabi terminal lease

DP World not renewing Abu Dhabi terminal lease    Dubai-based terminal operator DP World said last week it will not renew a lease for a container terminal it manages in Abu Dhabi, according to a report last week from Containerisation International.
   The five-year lease expired on Dec. 31, and the terminal operator said operations going forward will be handled by Abu Dhabi Terminals, its former partner in the joint venture at the existing Mina Zayed port. DP World added that discussions about it operating a new massive container port (dubbed Khalifa Port) ‘have not resulted in any binding agreement.’
   Abu Dhabi is developing a massive port, logistics and free zone complex that could, in theory, compete with neighboring Jebel Ali, DP World’s flagship terminal. Container operations are scheduled to migrate to Khalifa Port in late 2012. The new port will initially have capacity of 2 million TEUs, ramping up to a potential 15 million TEUs by 2030.
   ‘We have worked closely with ADT and ADPC over many years and we will continue to work closely with them into the future,’ said Mohammed Al Muallem, senior vice president and managing director DP World, U.A.E. region. ‘Efficient infrastructure supports economic growth and Mina Zayed, and Port Khalifa and its associated industrial park when built, will contribute to the growth of Abu Dhabi and the U.A.E.’