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DP World ‘has responsibility’ to improve supply chains : UAE Chief

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DUBAI : DP World, one of the biggest global port operators globally, aims to be a major player at every stage of the trade supply chain, from handling raw materials from suppliers at its ports for manufacturers in its free zones and then delivering finished goods to their customers, its UAE Chief Executive said in Davos.

The company is investing in logistics and technology to enhance its ability to move cargo, Abdulla Bin Damithan told  on the sidelines of the World Economic Forum’s annual meeting.

“We are not only one part of the supply chain … we’d like to be the full supply chain … from factories to customer doorsteps,” said Mr Bin Damithan, who is also managing director of DP World UAE and the Jebel Ali Free Zone (Jafza).

“We’re … bringing more transparency to the supply chain. We have a responsibility towards how to improve the supply chain. And being just a ports operator is not enough.

“We heavily use our portfolio connecting [cargo] digitally, knowing [all] movement of cargo, looking at data and supporting our customers and coming up with even new ideas [for them].

“We are investing in our logistics and digital capabilities to connect cargo … And we have been opening trade bridges. In fact, I am personally working on this with my counterparts in India, Africa and Europe.

“We have invested heavily not only on our ports, but also our own … warehouses and our trucking and transportation and logistics capabilities. So, for us, it’s no longer [just about] the port. It’s beyond the gate services that we provide.”

This strategy applies around the world in markets such as in Africa, as well as in the UAE.

In March, the company said its annual profit rose by 5.9 per cent to $896 million last year on the back of higher revenue from acquisitions, new concessions and fast-growing trade lanes in Asia, the Middle East and Africa.

Revenue grew 26.3 per cent a year to $10.77 billion.

DP World has been diversifying its portfolio in recent years, Mr Bin Damithan said.

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