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DP World's education programme goes global to help 34,000 young people by 2020

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Volunteers from 17 DP World locations in the UAE, India, Pakistan, Senegal, the UK, Argentina and the Philippines delivering the programme have received positive feedback from students and teachers. Over 90% of teachers in the pilot countries said that the course provided their pupils with something new their school could not have provided and 85% said they would be likely to recommend DP World as an employer to pupils.

The Global Education Programme aims to engage 34,000 children between the ages of 8-14 by 2020 with DP World volunteers delivering it from across its network of 77 operating marine and inland terminals in 40 countries.

The content covers a wide range of topics to engage young people in ports, trade and logistics, a little-known and often overlooked part of the world economy. Subjects include port management, sustainability, careers in trade and logistics and the maritime sector, geography, mathematics and design and technology. It has already been translated into seven languages including French, Arabic and Spanish, with Korean, Mandarin, Vietnamese, Turkish and Romanian in the pipeline for next year.

The wider global roll out of the programme follows a survey from You Gov and DP World earlier this year, which found under half (49%) of parents of 8-14 year olds in the Middle East and North Africa are optimistic about their children’s future. It also found less than a third know what trade and logistics mean. Once informed, two thirds (67%) believed it was important their children knew more about this industry and a similar amount (60%) would be interested in their child working in the industry.

DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said: “Trade and logistics make economies function, increasing prosperity for nations across the world. As a leader of global trade we are keen to raise the awareness of future generations about its vital role, be active in developing a talent pipeline and engage local communities about the industry.

“Our programme will give young people a real insight into the possibilities for a successful career in trade and logistics, giving them some basic understanding and skills employers will be looking for in future recruits. We are calling on schools from the 40 countries we operate in to join us in helping prepare future generations for the world of work in this rapidly changing and increasingly innovative sector.”

DP World Global Sustainability Director Kathryn Wightman-Beaven said: “Education is one of the four focus areas of our community investment strategy – part of the ‘Our World, Our Future’ global sustainability programme. Our aim is to engage our employees, both current and potential, in this programme to raise awareness of the sector and its career opportunities. This is a global initiative that has the potential to improve opportunities for thousands of young people around the world. We will be monitoring its success over the coming years to ensure it has the best possible reach and impact.”

The specific modules cover:
• Location, location – exploring the geographical features that make a good location for a new port
• Which port am I? – aimed at encouraging an understanding that ports help global trade by linking countries around the world
• Maritime maths – using simple maths to explain how a container ship is loaded safely
• Correct containers – generating an understanding of how goods are traded between countries around the world
• Super saver – exploring how maths helps to improve the efficiency of container transport
• Go green – promoting understanding of how ports and shipping can be sustainable, and what sustainability means
• Ports at work – learning about different jobs which help a port to function well
• Supplying the demand – understanding what it takes using maths and geography to move goods around the world
• United for Wildlife – learning about illegal wildlife trade and understanding ways to tackle it

Aumund and Sweidan open Spare Parts Stock in Riyadh

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The new warehouse will assure customers that parts are instantly available, this is of particular importance in a case of emergency to get the machine running again. Additionally, a local Aumund supervisor is available to support the customers.

Aumund ensures a high level of After Sales Service along with top quality products. For onsite services local Aumund supervisors are at any time ready to assist the customers for whatever reason: Troubleshooting, technical advice, installation supervision, preventive maintenance service Premas and equipment inspection.

DP World Chairman meets President of Senegal and commits to develop Dakar

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DP World’s current and future projects in Senegal as well as ways of further strengthening trade relations and exploring areas of future cooperation were discussed at the meeting in Dakar, which was also attended by Senegalese Prime Minister Mohammed Dionne and UAE Ambassador to Senegal Mohammed Al Rashidi.

Mr. Bin Sulayem also expressed the company’s readiness to be part of the massive change and growth the continent is witnessing. He stressed that as a global trade enabler, DP World has the extensive expertise and know-how that can help African countries realise their trade and infrastructure goals, while assisting Senegal in particular to address national ports and logistics infrastructure challenges.

The visit was part of Mr. Bin Sulayem’s annual Africa tour calling at existing DP World operations while meeting other heads of state and business leaders to explore trade links and solutions connecting Africa to the world.

During his meeting with the President, Mr. Bin Sulayem shed light on DP World’s plans and updated him on current projects in Dakar including the development of Port Du Futur and the free zone located in the vicinity of the new airport for which DP World signed a Memorandum of Understanding with the Senegalese Government in October last year.

DP World is building and developing a logistics free zone near Blaise Diagne International Airport, not far from the DP World Dakar Terminal. It is expected to be one of the most advanced and well organised free zones in Africa and globally using the latest state-of-the-art equipment and technology.

The President was also briefed about DP World’s latest activities and the initiatives that confirm its commitment to sustainable development including its solar rooftop project – the largest in the Middle East which followed the company’s third successful annual Go Green Week, a collaboration with the world’s leading port operators to engage communities and people across its international portfolio in promoting environmental awareness.

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: “In speaking with leaders of African countries one thing is clear – this continent’s people are gearing for change on a massive scale and we are eager to be part of the process. Our business helps economies flourish, connecting local markets to global trade and the sharing of expertise and experiences across international borders is essential in realising seamless cargo movement across multi-modal transport.

“The sheer size of the African continent presents a major infrastructure challenge that needs to be addressed and we are pleased to be able to share our learnings with Senegal’s leaders. The country’s geographical location and visionary leadership means that Dakar has the potential to develop into West Africa’s leading logistics hub and trade gateway.”

DP World has operations in Senegal, Egypt, Mozambique, Djibouti, and Algeria and recently signed an agreement with the Republic of Somaliland to invest in a multi-purpose port project at Berbera. It also secured a 25-year concession to develop and operate a new logistics centre in Kigali, Rwanda at the beginning of 2016.

ICTSI successfully prices tender offer and new perpetual securities issuance

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On 13 October 2016, International Container Terminal Services, Inc. (“ICTSI”) and Royal Capital B.V. (the “Issuer”) announced the results of the Issuer’s offer to holders (“Securityholders”) of its 6.25% senior perpetual capital securities callable in 2019 (“NC19 Securities”) and 5.50% senior perpetual capital securities callable in 2021 (“NC21 Securities”, and together with the NC19 Securities, the “Old Perpetual Securities”), both guaranteed by ICTSI, to tender Old Perpetual Securities for cash (the “Tender Offer”).

An aggregate nominal principal amount of US$345,453,000 in the Old Perpetual Securities was submitted by Securityholders in the Tender Offer (the “Tender Instructions”) of which US$160,314,000 comprised tenders of the NC19 Securities and US$185,139,000 from tenders of NC21 Securities. The Issuer offered Securityholders a price of US$1,067.50 per US$1,000 in principal amount of the NC19 Securities and US$1,057.50 per US$1,000 in principal amount of the NC21 Securities. ICTSI and the Issuer accepted all Tender Instructions submitted.

In addition, on October 13, 2016, the Issuer successfully priced a US$375,000,000 offering of senior perpetual capital securities, guaranteed by ICTSI (the “New Perpetual Securities”). The New Perpetual Securities were structured to constitute equity under International Financial Reporting Standards and represent ICTSI’s third successful issuance in this format.

The New Perpetual Securities confer a right to receive distributions at a rate of 4.875% per annum and were priced at 99.225%. The New Perpetual Securities shall rank pari passu with all other outstanding unsubordinated obligations of the Issuer, who will have the right to redeem the New Perpetual Securities on May 5, 2024 and any semi-annual distribution payment date thereafter. The rate of distribution for the New Perpetual Securities will be reset every five years from May 5, 2024 and will increase by 2.50% per annum on May 5, 2024, in each case if the New Perpetual Securities were not already redeemed by the Issuer. Consistent with the requirements for equity under IFRS, the Issuer may resolve, at its discretion, to defer payment of distribution otherwise payable on a distribution payment date.

The New Perpetual Securities were widely distributed with fund managers accounting for 46%, private banks for 30%, and banks for 24%. By geography, Asia took up 82% with Europe at 18%.

The transaction is significant in several respects. The Tender Offer is the first such transaction targeting repurchase of U.S. dollar perpetual securities in Asia this year. Meanwhile, the New Perpetual Securities achieved the longest non-call date for any Asian corporate hybrid security to date. ICTSI remains the only Philippine issuer to have offered U.S. dollar senior perpetual securities in the international debt capital markets. Moreover, the New Perpetual Securities set a record-low U.S. dollar distribution rate for a Philippine corporate perpetual security, a significant reduction relative to the NC19 Securities and NC21 Securities.

ICTSI Senior Vice President and Chief Financial and Compliance Officer Rafael D. Consing remarked, “This capital management exercise is strategic and value accretive in many respects. The two most important of which are the extension of the call duration on almost half of ICTSI’s outstanding senior perpetual securities, and securing guaranteed annual cost savings from the lower distribution rate. We are pleased to have achieved these objectives particularly given the volatile market backdrop.”

Citigroup Global Markets Limited, The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank acted as Joint Lead Managers and Joint Bookrunners for the New Perpetual Securities issuance and as Dealer Managers for the Tender Offer.

ICTSI operates a total of 30 common user container terminals located in 20 countries, with a focus on facilities having total annual throughputs ranging from 50,000 to 2,500,000 twenty-foot equivalent units (TEUs).