Dubai's financial problems will have no impact on Maasvlakte 2
12-02-2009 - Port of Rotterdam AuthorityA subsidiary of Dubai World, DP World, is one of the companies behind the consortium Rotterdam World Gateway (RWG) that will be operating the first container terminal on Maasvlakte 2. However, insofar as this can be determined, the financial problems that Dubai World made the news with last week will not have any impact on the Maasvlakte 2 development.
DP World may be a subsidiary of Dubai World, but this does not mean that the former is involved in the latter's problems. It is not for nothing, after all, that their activities are organised into separate legal entities. In addition, with a share of 30%, DP World is just one of the companies that together form RWG. The other four are the shipping companies MOL (Japan), Hyundai (Korea), APL (Singapore) and CMA CGM (France). Finally, besides RWG, there are two other sites that have been allocated on Maasvlakte 2: one to APMT and one to Euromax.
The Port of Rotterdam Authority has very regular contact with all the container companies that are active in Rotterdam, during which the consequences of the economic crisis are a recurring topic of conversation. Both RWG and APMT and the Port Authority are keeping to the current schedule for the completion of the first phases of the terminals on Maasvlakte 2. This means that RWG will start operation of its terminal in 2013, and APMT in 2014. As yet, there is no scheduled completion date for the expansion of the Euromax on Maasvlakte 2.
Page updated at: 12-02-2009