Dubai’s DP World wins ruling against Djibouti over seized port

DP World, which is majority-owned by the Dubai government in the United Arab Emirates, operates nearly 80 marine and inland terminals around the world. (AFP)
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Updated 14 January 2020

Dubai’s DP World wins ruling against Djibouti over seized port

  • London tribunal ordered Djibouti to restore its rights and benefits under a 2006 concession agreement
  • DP World operates nearly 80 marine and inland terminals around the world

DUBAI: DP World said Tuesday it has won another arbitration ruling against Djibouti over the African country’s seizure of a container terminal managed by the Dubai-based global port operator.
The company said a London tribunal ordered Djibouti to restore its rights and benefits under a 2006 concession agreement governing the Doraleh port within two months or pay damages. DP World estimates it has lost $1 billion since Djibouti took over the terminal in February 2018.
DP World, which is majority-owned by the Dubai government in the United Arab Emirates, operates nearly 80 marine and inland terminals around the world.
Djibouti seized the container terminal after DP World created another corridor for imports to landlocked Ethiopia in Somaliland, endangering Djibouti’s near-monopoly on Ethiopia’s imports.
Ethiopia recently became a 19 percent shareholder in Somaliland’s Berbera port, where DP World holds a 51 percent stake. Somaliland, a breakaway northern region of Somalia, holds the remaining 30 percent.
The expansion into Somaliland came alongside plans by the United Arab Emirates to build a naval base in Berbera, part of its expanding military presence in the region.
Djibouti’s port alone accounts for 95 percent of Ethiopia’s imports. With a population of 110 million people, Ethiopia is the largest economy in the Horn of Africa.
DP World said the tribunal ruled that Djibouti broke the law when it removed the company from management of the terminal and transferred the terminal’s assets to a state-run company. The Dubai-based company said Djibouti has ignored five previous rulings in its favor despite the fact that the contract is governed by English law.


Arab News recording exposes Nissan lawyer’s lie on IMF bailout for Lebanon

Updated 01 June 2020

Arab News recording exposes Nissan lawyer’s lie on IMF bailout for Lebanon

LONDON: Arab News has published the recording of an interview with a Nissan lawyer after he denied saying that a bailout of Lebanon by the International Monetary Fund (IMF) was linked to the extradition of fugitive tycoon Carlos Ghosn.

The former Nissan chairman fled to Beirut in December from Japan, where he faced charges of financial wrongdoing.

In a story published in Arab News Japan on Saturday, Sakher El Hachem, Nissan’s legal representative in Lebanon, said the multibillion-dollar IMF bailout was contingent on Ghosn being handed back to Japan. 

The lawyer said IMF support for Lebanon required Japan’s agreement. Lebanese officials had told him: “Japan will assist Lebanon if Ghosn gets extradited,” the lawyer said

“For Japan to agree on that they want the Lebanese authorities to extradite Ghosn, otherwise they won’t provide Lebanon with financial assistance. Japan is one of the IMF’s major contributors … if Japan vetoes Lebanon then the IMF won’t give Lebanon money, except after deporting Ghosn.”

On Sunday, El Hachem denied making the comments. “The only thing I told the newspaper was that there should have been a court hearing on April 30 in Lebanon, but it was postponed because of the pandemic,” he said. In response, Arab News published the recording of the interview, in which he can be clearly heard making the statements attributed to him. 

Japan issued an arrest warrant after Ghosn, 66, escaped house arrest and fled the country.

Now listen to the recording: