Dubai’s DP World acquires Danish Unifeeder for $748 million

Global port operator DP World says it has acquired Danish logistics firm Unifeeder for $748 million. (AP)
Updated 06 December 2018

Dubai’s DP World acquires Danish Unifeeder for $748 million

  • DP World’s full acquisition of Unifeeder Group from Nordic Capital Fund VIII was announced in August, finalized Thursday
  • DP World’s profits last year climbed to $1.2 billion with revenue reaching $4.7 billion

DUBAI: Global port operator DP World says it has acquired Danish logistics firm Unifeeder for $748 million, about 660 million euros, helping the Dubai-owned company expand its foothold through the largest feeder and shortsea network in Europe.
DP World’s full acquisition of Unifeeder Group from Nordic Capital Fund VIII was announced in August, but finalized on Thursday.
DP World says Unifeeder’s smaller vessels and connectivity to approximately 100 ports will enhance the port operator’s presence in the global supply chain and broaden its services. While DP World’s core business remains in container terminals, the company says this latest acquisition is part of a wider strategy to diversify revenues.
DP World’s profits last year climbed to $1.2 billion with revenue reaching $4.7 billion.


China's aviation regulator raised concerns with Boeing on 737 MAX design changes

Updated 12 December 2019

China's aviation regulator raised concerns with Boeing on 737 MAX design changes

  • China is reviewing the airworthiness of the plane
  • China was first country to ground plane in March

BEIJING: China’s aviation regulator raised “important concerns” with Boeing Co. on the reliability and security of design changes to the grounded 737 MAX, it said on Thursday, but declined to comment on when the plane might fly again in China.
China is reviewing the airworthiness of the plane based on proposed changes to software and flight control systems according to a bilateral agreement with the United States, Civil Aviation Administration of China (CAAC) spokesman Liu Luxu told reporters at a monthly briefing.
He reiterated that for the plane to resume flights in China, it needed to be re-certified, pilots needed comprehensive and effective training to restore confidence in the model and the causes of two crashes that killed 346 people needed to be investigated with effective measures put in place to prevent another one.
China was the first country to ground the 737 MAX after the second crash in Ethiopia in March and had set up a task force to review design changes to the aircraft that Boeing had submitted.
The US Federal Aviation Administration (FAA) will not allow the 737 MAX to resume flying before the end of 2019, its chief, Steve Dickson, said on Wednesday.
Once the FAA approves the reintroduction into service, the 737 MAX can operate in the United States, but individual regulators could keep the planes grounded in other countries until they complete their own reviews.
“Due to the trade war, the jury is still out on when China would reintroduce the aircraft,” said Rob Morris, Global Head of Consultancy at Ascend by Cirium.
Chinese airlines had 97 737 MAX jets in operation before the global grounding, the most of any country, according to Cirium Fleets Analyzer.