Building of US$415m fourth berth at London Gateway to begin next month

THE UK is set to receive another injection of container port capacity with DP World announcing that it would begin construction of a fourth berth at London Gateway next month, according to UK's The Loadstar.

Building of US$415m fourth berth at London Gateway to begin next month

THE UK is set to receive another injection of container port capacity with DP World announcing that it would begin construction of a fourth berth at London Gateway next month, according to UK's The Loadstar.

The Dubai-headquartered port operator said it would invest GBP300 million (US$415 million) in the new facility, building on the GBP2 billion-plus it has already ploughed into the UK's newest deepsea port.  The operator said London Gateway handled 888,000 TEU in the first six months of 2021, beating its previous first-half record by 23 per cent, the operator said, and suggested that full-year volumes could near 2 million TEU.

Meanwhile, first half-volumes at DP World Southampton climbed to 995,000 TEU, but with little physical room for the south coast hub to expand, it should be expected that London Gateway will overtake Southampton as the UK's second-largest box port sometime in the next few years.

DP World added that the new fourth berth would raise overall capacity at the port by a third and completion would coincide with the delivery of a new wave of 24,000 TEU vessels in 2023 and 2024, which will all be operated between Asia and Europe.

DP World chairman and CEO Sultan Ahmed Bin Sulayem said: "As a central pillar of Thames Freeport, London Gateway's new fourth berth will allow even more customers to benefit from world-class ports and logistics, with unrivalled global connectivity, on the doorstep of Europe's largest consumer market."

 

Source : HK Shipping Gazette

Picture : DP World London Gateway