DP World has recently reached a deal with the Deutsche Bank to acquire Maher Terminal’s Fairview Container Terminal in Price Rupert, British Colombia.
With a current capacity of 850,000 twenty foot units (TEU) per year, the Fairview Terminal is set to increase it’s capacity to 1.35 million TEU with the recently-annouced Phase 2 expansion.
How much does it cost to acquire a terminal you ask? C$580 million (approximately USD $457 million) with the deal expected to close in second half of 2015. Maybe we could all chip in?
DP World is the operator of CENTERM terminal, also located in Canada at the Port Metro Vancouver. The group appears to be happy with their purchase of the purpose built sea-rail link terminal stating “We are delighted to extend our global footprint with a second terminal in Canada. The value proposition is compelling and the addition of capacity to our portfolio will contribute to DP World’s continued growth and the delivery of shareholder value.”
Mohammed Sharaf, Group Chief Executive Officer, DP World, said: “Fairview Container Terminal offers the fastest access for vessels traveling between Asia and North America. The terminal also offers the highest productivity rates on the West Coast and an efficient rail link to the hinterland. The long-term concession and ability to build beyond the current phase 2 of expansion presents a fantastic opportunity for DP World.”
Some interesting stats on the Fairview Terminal:
- It spans 59 acres
- It was first commissioned in 2007
- Single berth with four super post panamax cranes
- a 9,000 TEU container yard
- 72 reefer plugs
- 7 working rail tracks and 6 storage tracks
(The expansion will involve the addition of a second berth and four additional cranes.)