Freight and Passenger Ferry and Multimodal Logistics Holdings Acquired by Global Port Operator

DP World has continued its expansion into the world of shipping and logistics with confirmation that it has acquired the holding company of P&O Ferries and P&O Ferrymasters (together P&O Ferries) thus moving again away from its traditional territory of global port management.The purchase, at a consideration of around $421 million, follows the recent takeover of short sea specialist Unifeeder, and adds a further new fleet of 21 vessels on the Short Sea, North Sea and Irish Sea sectors across 11 ports to the UAE group’s portfolio. Additionally the activities of road haulage and multimodal operator P&O Ferrymasters provides supply chain services to customers in 19 European locations.