Monday, June 5, 2023
HomeHeadlinesDP World: Agreement With 2nd Major Tenant In 3 Months; Demand At...

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

DP World: Agreement With 2nd Major Tenant In 3 Months; Demand At London Gateway Soars

London City Bond becomes the second leading business in three months to take advantage of the financial benefits of freeport status and locate at DP World London Gateway’s rapidly expanding port-centric logistics park.

The lease shows the extraordinary demand for space at London Gateway – where the speculative 146,000 sq ft green warehouse was fast-tracked for delivery – which has been given a further boost by its status as part of Thames Freeport, with the financial incentives for businesses locating there starting in November last year. London City Bond, which will take the facility on a long-term lease from March, is the UK’s leading tax warehousing company and specializes in storage for renowned drinks trade customers.

Oliver Treneman, Park Development Director at DP World in the UK, said: “We are delighted to welcome the latest tenant to our port-centric logistics park at London Gateway, where we have seen the best year for new business in a decade as demand for premium warehousing space in the South East of England has soared. By establishing a bonded warehouse on the park, London City Bond further consolidates our position as the premier destination for imported wines from the New World.”

“With international trade changing fast as we emerge from the pandemic, DP World – the leading provider of smart logistics solutions – has the space, infrastructure and vision to support our customers at London Gateway as they grow. Our partnership approach, logistics expertise, digital solutions and inter-modal connectivity, particularly rail, help us to solve logistical challenges and give our customers more control over their supply chains.”

Alf Allington, Managing Director at London City Bond, added: “We are delighted to have secured the opportunity to work in partnership with DP World to secure our latest warehouse within London Gateway – our sixteenth site to date.”

“The current shortage of quality warehousing is well documented, and it is therefore even more exciting to have secured this new unit within the freeport as we know from our past experience just what additional benefits this can bring to us as a tenant, whilst at the same time allowing us to offer bespoke port-centric solutions to our customers.”

“We are particularly pleased with the way DP World have managed the build and are on track to hand this over to us on time. We very much look forward to a long and rewarding partnership with them.”

The news marks the latest in a series of major steps forward for London Gateway, where the fast-growing logistics park is the size of 400 football pitches, is the biggest of its kind in Europe and will become home to a workforce of around 10,000 people. DHL, one of the world’s leading contract logistics providers, started construction of the largest warehouse to date on the park in May last year and OASIS Group, which provides information management services and document storage to clients across the UK and Europe, signed a long-term agreement on a 108,973 sq ft warehouse in October.

Source: DP World

Related Posts

Video

Finance & Economy
Shipping News
Ports

BW LPG appoints new CFO

BW LPG announced that it has appointed Ms Samantha Xu as Chief Financial Officer (CFO), effective 1 September 2023. Ms Xu has over 20 years...

Frontline Posts Highest First Quarter Results Since 2008

Frontline plc reported unaudited results for the three months ended March 31, 2023: Highlights Highest first quarter profit since 2008 of $199.6 million, or $0.90 per...

Diana Shipping posts slightly lower Q1 profit; takes out $123m in loans

Diana Shipping reported net income of $22.7 million and net income attributed to common stockholders of $21.3 million for the first quarter of 2023....

CMA CGM Profit Eases as Container Transport Demand Wanes

CMA CGM expects its profit to ease further for the rest of the year after a first-quarter decline, as an uncertain economy and influx...

Seanergy ‘well positioned to benefit from positive trend in Capesize market’

Seanergy Maritime Holdings Corp., announced its financial results for the first quarter ended March 31, 2023, and declared a quarterly dividend of $0.025 per...

Taiwan Shipping Firms Set to Hand Out Bumper Bonuses Again

Taiwanese shipping companies are handing out bumper mid-year bonuses despite a slump in global...

Baltic index hits over 3-month low amid lower coal imports

The Baltic exchange’s main sea freight index extended losses for the 15th session straight...

Baltic index falls for the month as vessel demand wanes

The Baltic exchange’s main sea freight index recorded its first monthly decline in four...

North Korea missile tests endanger shipping, UN maritime agency told

North Korean missile tests are endangering the safety of commercial shipping in busy sea...

Singapore Clamps Down on Tankers as Dark Fleet Grows

Singapore’s detentions of oil and chemicals tankers have surged since early last year, highlighting...

DP World Completes Terminal Expansion Project Vancouver Port

DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput at the Port of Vancouver by 60 percent. The terminal...

DP World completes AED 954 million Vancouver port expansion

DP World and the Vancouver Fraser Port Authority have celebrated two historic events – the completion of the Centerm Expansion Project at DP World...

Alexandroupolis port gets 24 million euros of EU funding

Greece has secured 24 million euros ($26 million) in European Union funding to upgrade its northern Aegean Sea port of Alexandroupolis, privatisation agency HRADF...

Port Hedland Iron Ore Exports Down 5% in April

Pilbara Ports Authority (PPA) has delivered a total monthly throughput of 57.7 million tonnes (Mt) for April 2023. This throughput was a two per cent...

APM Terminals Reveals $1 Billion Investment in Brazil

APM Terminals’ CEO Keith Svendsen has pledged an investment of about US$1 billion in the company's Brazilian operations up to 2026. The amount includes around...