DP World Buys Majority Stake in Ukraine's Leading Container Terminal
Global port operator DP World has agreed to acquire a majority stake in Ukraine's leading container terminal, the TIS Container Terminal facility in the Port of Yuzhny, about 20 miles outside of Odessa. The terminal has the longest and deepest container ship berth in the country, with 52 feet of depth alongside.
The container terminal is a division of TIS Group (TransInvestService), which also operates Ukraine's largest grain terminal, coal terminal, pellet terminal and fertilizer terminal.
DP World's P&O Maritime Services division already has a joint venture with TIS Group, providing tugs, pilotage and other services in several Ukrainian ports. The purchase of a 51 percent stake in TIS' container terminal deepens the two firms' partnership.
According to DP World, the Ukrainian container market grew by more than 20 percent in 2019, and TIS Container Terminal has one of the most efficient railway connections in the region to major Ukrainian cities, supporting trade flows to the hinterland.
"We are delighted to extend our Ukraine footprint with this venture and are excited about the significant growth potential of the terminal. Our goal is to build the industry's leading data-driven supply chain solutions through our global portfolio," said Sultan Ahmed Bin Sulayem, chairman and CEO of DP World. "We believe the strategic partnership with TIS Group will enable the terminal to continue growing, further cementing TIS Container Terminal's position as the leading gateway to Ukraine."