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DP World + Rosatom to partner on new logistics operator: Emirati port operator DP World and Russian state corporation Rosatom inked an agreement to set up “an international logistics operator” to operate in Russia and international markets, according to a press release, which did not give further details on the ownership structure of the joint venture. Enterprise Logistics did not hear back from a DP World representative ahead of dispatch time.
The details: The newly created logistics operator will make use of established trade infrastructure in Russia, Eurasia, the Middle East, Africa, and South America, including the Northern Sea Route. It will also help boost logistics integration between Brics nations, bolster supply chains, boost trade turnover and sustainable development, according to the press release.
It’s not clear whether this is different from another JV the two companies set up recently: The two companies established a USD 10 mn JV dubbed International Container Logistics in October that looks to establish the first regular container service along the Northern Sea Route. This followed a partnership they inked in June to “jointly develop” shipping along the route.
SOUND SMART- The northern sea route is an Arctic shipping route running from Russia’s border with Norway to Alaska’s Bering Strait. The route is currently only accessible for 9 months a year, due to thick ice closing it off during the winter months. However, it is expected that warming temperatures will lead to the passage being open year round in 2024, to potentially cut travel time between key Eurasian markets.
What they said: “Today we have agreed with DP World to combine our experience, competencies and infrastructure capabilities to create a global logistics operator that will help increase the transparency and accessibility of transport and logistics services primarily for developing countries in Eurasia, the Middle East, Africa and South America,” General Director of Rosatom Alexey Likhachev said.
REMEMBER- The UAE is joining Brics in January, along with Saudi Arabia, Iran, Ethiopia, and Egypt. Argentina was also set to join the bloc but later rejected the invite.
