Page 42 - ITLN Nov-Dec 2022 For Magzter
P. 42
Ne
Newsws
DP World to hire 700 technology
staff in India by mid-2023
P World launched its latest innovation
Dcentre in Gurugram, which will soon
host 240 staff working on critical solutions for
global supply chains.
"The new centre, around 17 km southwest of
the Indira Gandhi International Airport, Delhi, will
house development teams who will work on DP
World's latest cutting-edge trade and logistics
solutions to revolutionise how trade flows
through every link of the global supply chain,
creating stability, security, and profitability for
cargo owners," says an official release.
DP World had just 50 employees in India
working on technology solutions at the beginning
of 2021. The number has already grown to more
than 450 with the opening of three centres this
year. Employee headcount is expected to reach
Pradeep Desai, DP World’s chief technology officer
700 by the middle of next year, the release said.
AD Ports Group buys 80% stake in
Maersk Q3 revenue at $22.8bn Global Feeder Shipping for $800mn
on higher freight rates
anish carrier Maersk reported a 37
Dpercent increase in revenue for Q32022
to $22.8 billion, EBITDA increased to $10.9
billion and EBIT increased to $9.5 billion.
Profit was $8.9 billion for Q3 and $24.2
billion for the first nine months, according
to an official release.
Maersk has thus crossed 2021
revenue in the first three
quarters of the current
fiscal.
"Our third quarter (L-R) Amir Maghami, chairman, GFS and Capt. Mohamed Al Shamisi,
result was another managing director and Group CEO, AD Ports Group.
record and the 16th
quarter in a row with bu Dhabi Securities new acquisition loan," says a
year-on-year earnings AExchange-listed AD Ports release from AD Ports.
growth," says Søren Group has signed an agreement The earnings and value-
Skou, CEO, A.P.Moller- to acquire an 80 percent equity accretive strategic investment
Maersk. "Ocean freight stake in Dubai-based Global significantly broadens AD Ports
rates, which have driven Feeder Shipping (GFS), a global Group's global feeder shipping
the exceptional results we container shipping company. footprint and contributes to its
have delivered in 2022, were "The total purchase long-term strategy to become
again up both year-on-year and consideration for the 80 one of the world's premier
compared to the second quarter. However, percent stake amounts to short-sea and feeder shipping
it is clear that freight rates have peaked and AED 2.9 billion ($800 million), players, the release added.
started to normalise during the quarter, implying a 100% enterprise GFS reported revenue of $1.1
driven by both decreasing demand and value of AED 3.7 billion ($1 billion, EBITDA of $521 million
easing of supply chain congestion." billion), with the acquisition and net profit of $481 million
being fully funded through a for the last 12 months.
40
November - December 2022 www.itln.in
