DP World agrees to acquire majority stake in TIS container terminal in Ukrainian port

Bringing the TIS Container Terminal into DP World's global network of ports, economic zones, warehousing, and inland logistics solutions will strengthen its position as the market-leading terminal of Ukraine, the port operator said in a statement.

This latest acquisition also complements the existing operations of DP World's P&O Maritime Services business through a joint venture with TIS Group, providing tugging, pilotage and other marine services in several Ukrainian ports.

The acquisition comes as the Ukrainian container market grew over 20 percent in 2019.

Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: "We are delighted to extend our Ukraine footprint with this venture and are excited about the significant growth potential of the terminal. Our goal is to build the industry's leading data-driven supply chain solutions through our global portfolio, creating opportunities for our customers to realize game-changing value and accelerate their cargo deployments."

"We believe the strategic partnership with TIS Group will enable the terminal to continue growing, further cementing TIS Container Terminal's position as the leading gateway to Ukraine," he noted.