Port of Corpus Christi in Texas. (Eddie Seal/Bloomberg)
key takeaways:
- DP World entered into exclusive negotiations on June 16 to lease and build a container terminal at the Port of Corpus Christi, marking a potential return to U.S. port operations.
- The move signals US expansion after the company pulled out in 2006 amid security concerns and is aimed at meeting growing demand at the Texas port, officials said.
- If finalized, DP World will design and build the facility to expand Gulf Coast capacity and improve supply chain connections for US trade.
DP World is looking to operate a US container port for the first time in two decades.
The Dubai-based ports and logistics giant announced on June 16 that it has entered into an exclusive negotiation for a long-term lease to operate a terminal at the Port of Corpus Christi in Texas. DP World will design and build the new facility.
If finalized, the move would mark a significant entry into the world’s largest economy for DP World, which exited the US ports business in 2006 over security concerns raised by some US lawmakers citing 11 terrorists’ ties to the UAE.
State-owned DP World has existing logistics operations in Pennsylvania and North Carolina, and currently uses Vancouver as its main entry point for cargo into the US via rail to Chicago and elsewhere.
Corpus Christi is one of the most important US ports based on total tonnage, largely due to its handling of energy, chemicals, agricultural commodities, and bulk cargo.
With a new container gateway, DP World said it plans to “capture new trade flows and support economic growth as demand for port capacity continues to grow throughout Texas.”
“The U.S. Gulf Coast is one of the nation’s most important trade and economic corridors, and the demand for efficient, flexible port infrastructure continues to grow,” Brian Enright, CEO of DP World in the Americas, said in a press release. “The Port of Corpus Christi presents a significant opportunity to expand container capacity, strengthen supply chain connectivity, and create new pathways for U.S. businesses to access global markets.”
