In brief

01 July 2013

Loan maturity date extended
DP World, the world’s third-largest port operator, has extended the maturity date on a $1 billion revolving credit facility for an additional year as it secured attractive market terms, reports Reuters.

The loan maturity has been extended to Q2 2018 from Q2 2017, the company said in a statement.

“The facility provides DP World with flexibility to manage cash flow and investment in its portfolio. This flexibility is now available for a further year,” the statement said.

The port operator repaid $3 billion of debt in March last year using cash held on the group’s balance sheet.


DP World to build terminal
DUBAI-based DP World has signed an agreement with India’s Jawaharlal Nehru Port Trust (JNPT) to develop a Rs6 billion ($100.4 million) container terminal in Navi Mumbai, Press Trust of India reported.

“JNPT has signed a concession agreement with Nhava Sheva Gateway Terminal, a subsidiary of DP World of Dubai, for development of a standalone container handling facility,” JNPT chairman, N N Kumar said.

The project will be executed on a design, build, finance, operate and transfer (DBFOT) basis.


Carrier unveils campaign
ETIHAD Cargo has unveiled a new global advertising campaign, its first since rebranding from Etihad Crystal Cargo to Etihad Cargo more than one year ago.

With the brand line “The world is our business. Let us take care of yours,” Etihad Cargo will run the major new brand campaign across 24 countries, supported by print and digital media advertising.

The campaign celebrates Etihad Cargo’s key customers – freight forwarders.


DHL wins three awards
DHL, a leading logistics company, said it was honoured with three awards at the Aon Hewitt ‘Best Employers in the Middle East 2013’, in Dubai.

DHL units of UAE, Oman and Kuwait were all ranked in the ‘top five’ best employers list in the region by organisers Aon Hewitt, the global talent, retirement and health solutions business of Aon.

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