DP World plots US port comeback with Corpus Christi container terminal
DP World and the Port of Corpus Christi have signed a lease option agreement for a container terminal that could eventually handle about 1 million TEUs annually. The post DP World plots US port comeback with Corpus Christi container terminal appeared first on FreightWaves .
DP World, a Dubai-based global terminal operator, has signed a lease option agreement with the Port of Corpus Christi in Texas to develop a container terminal. This project aims to handle around 1 million twenty-foot equivalent units annually, marking DP World's first U.S. container terminal development since a 2006 controversy derailed its acquisition of U.S. port operations.
The Port of Corpus Christi currently doesn't have container operations, and the new terminal would diversify its cargo base, which is heavily centered on energy. DP World, which handles about 10% of global container traffic, sees this as an opportunity to return to U.S. marine terminal operations after facing national security concerns over its 2006 attempt to acquire P&O terminals.
The Corpus Christi project, a significant potential return to U.S. port operations for DP World, would be designed, built, and operated by DP World, significantly altering the port's position in Gulf Coast freight markets.
Written by urgent.news from FreightWaves's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
