DP World has today announced that it will be beginning work next month on a new berth, its fourth, at its London Gateway logistics hub, to increase supply chain resilience and increase capacity for some of the world’s largest vessels.
The £300m investment is part of a wider £2bn DP World has invested over the last ten years, and represents the next step the company is taking to provide smart logistics services to its customers. The new berth is set to raise capacity at the port by a third and completion of which will coincide with the delivery of 24,000 TEU vessels in 2023 and 2024, which will operate between Europe and Asia.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: “I am delighted to announce that we will go ahead with our latest major investment in the UK, which will give London Gateway more capacity to handle the world’s largest vessels than any other port in the country.”
In the first six months of 2021, London Gateway saw a throughput of 888,000 TEU, which is a more than 23% increase on the previous best performance for the first half of a year.
Along with the Port of Tilbury and Ford’s Dagenham plant DP World London Gateway will form Thames Freeport after being awarded freeport status by the Government earlier this year, with the partners currently progressing the business case with a view to receiving formal accreditation.