Port Operator on Global Trade, Net Zero and Breakbulk Europe
We caught up with global port operator DP World to talk about sustainability, global trade tensions and the outlook for the project market in 2023. The Dubai-based company will be exhibiting at Breakbulk Europe 2023, taking place on 6-8 June at Rotterdam Ahoy.
Q: Could you provide an update on your plans to invest up to US$500 million to reduce carbon dioxide emissions by nearly 700,000 tonnes by 2026? What specific areas of your business are you targeting?
A: At DP World, our ports and terminals are acting on our global ‘Our World, Our Future’ sustainability strategy, focusing on day-to-day improvements in our operations as we pursue net zero. We have a clear roadmap to achieve net zero carbon emissions by 2050 across our operations, and we will be working with global partners to develop an action plan to advance the Global Sustainability Coalition (GSC) goals and encourage industry players to address climate change. The goal is to pursue various initiatives such as renewable energy, energy efficiency, and carbon capture and storage.
Q: What is your outlook for project cargo and other trade between Europe and the GCC for the remainder of this year, particularly in light of ongoing challenges related to geopolitics, inflationary pressures and fears of a global slowdown?
A: As geopolitical instability and ongoing trade tensions impact world trade, it’s clear that supply chain infrastructure must become more agile. While these challenges have led to uncertainty in the global economy, the trade between Europe and the GCC region has remained strong. The GCC region is an important trade partner for Europe, and there is a high demand for project cargo services due to the growth in infrastructure projects in the GCC region. DP World’s programmes, such as our CARGOES suite, for example, streamline every step of a cargo’s journey along a supply chain. In an era of greater regionalisation, this tool can be used to manage customer expectations better, make more informed, cost-effective decisions regarding inventory and adapt services where necessary.
Geopolitical tensions and their associated challenges will always exist in some form. By shortening supply chains or removing barriers to global trade through technology, we can protect our economies, generate prosperity, and ultimately future-proof global value chains against future shocks to the system.
Q: It's widely acknowledged that the GCC has the largest potential for projects globally and is less susceptible to an economic slowdown. Do you agree, and if so, why is this the case?
A: We can now look at GCC’s significant economic growth in recent years and forecast its exciting potential for projects. The GCC is strategically positioned with its location, natural resources, and governmental policies supporting this growth. In the past, the GCC has shown resilience to economic slowdowns. This is in part due to the solid financial positions of its governments, diversified economies, and long-term strategic planning.
Q: Could you outline why you became a global port partner for Breakbulk Events?
A: DP World is delighted to partner with Breakbulk events, particularly this year, as we gather in Rotterdam, home of the largest seaport in Europe, with its rich history of port operations and a key hub for global trade for centuries. Breakbulk is recognised as the world’s leading event for the project cargo and breakbulk industry, and this partnership allows us to connect with key industry players and showcase our industry-leading end-to-end capabilities.
Q: The company is already active in more than 80 countries worldwide. Focusing on the project market, which countries or regions do you see having particular potential over the next five years? Can you share any plans for further expansion?
A: We are focused on growing investor confidence in under-served economies by building new opportunities where they are most needed. Our network spans the globe, from industrial hubs to emerging centres of commerce, allowing us to leverage our expertise and capabilities to meet the unique needs of our customers across different regions. For example, integrating new acquisitions within the DP World portfolio, such as Imperial and Unico, expands our reach in Africa and central, east and southeast Asia – leveraging our local employees and expertise. We’re reducing barriers in the global supply chain and opening the shipping and logistics sector so more people and businesses can benefit from trade. By spreading the benefits of trade to new people and new places, we’re making shipping and logistics more open, nimble and responsive.
To reserve your tickets to Breakbulk Europe 2023, click here.
PHOTO: container yard at Jebel Ali terminal. CREDIT: DP World
