{"id":13180,"date":"2024-03-19T14:40:38","date_gmt":"2024-03-19T13:40:38","guid":{"rendered":"https:\/\/maritimafrica.com\/en\/?p=13180"},"modified":"2024-03-19T14:51:52","modified_gmt":"2024-03-19T13:51:52","slug":"dp-world-hits-back-at-djibouti-share-purchase","status":"publish","type":"post","link":"https:\/\/maritimafrica.com\/en\/dp-world-hits-back-at-djibouti-share-purchase\/","title":{"rendered":"DP World Hits Back at Djibouti Share Purchase"},"content":{"rendered":"<p style=\"text-align: justify;\"><a href=\"https:\/\/maritimafrica.com\/en\/wp-content\/uploads\/2024\/03\/DP-WORLD.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-13187 size-full\" src=\"https:\/\/maritimafrica.com\/en\/wp-content\/uploads\/2024\/03\/DP-WORLD.png\" alt=\"\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/maritimafrica.com\/en\/wp-content\/uploads\/2024\/03\/DP-WORLD.png 1080w, https:\/\/maritimafrica.com\/en\/wp-content\/uploads\/2024\/03\/DP-WORLD-300x300.png 300w, https:\/\/maritimafrica.com\/en\/wp-content\/uploads\/2024\/03\/DP-WORLD-1024x1024.png 1024w, https:\/\/maritimafrica.com\/en\/wp-content\/uploads\/2024\/03\/DP-WORLD-150x150.png 150w, https:\/\/maritimafrica.com\/en\/wp-content\/uploads\/2024\/03\/DP-WORLD-768x768.png 768w\" sizes=\"auto, (max-width: 1080px) 100vw, 1080px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">DP World, in a statement released by the government of Dubai, has announced that it will continue to pursue all legal means in its dispute over the Doraleh Container Terminal (DCT), following what it calls \u201cDjibouti\u2019s blatant disregard for the rule of law\u201d.<\/p>\n<p>The statement is in response to the Djiboutian government\u2019s announcement, on September 10, that it will nationalise all shares held by the Port of Djibouti, S.A (PDSA) in the DCT.<\/p>\n<p style=\"text-align: justify;\">Djibouti\u2019s move came after England\u2019s High Court upheld a ruling by the London Court of International Arbitration (LCIA) that judged the Djibouti-DP World concession agreement on the DCT legally binding.<\/p>\n<p style=\"text-align: justify;\">Djibouti assumed control of the DCT in February 2018, which it defended by claiming the concession agreement unfairly favoured DP World.<\/p>\n<p style=\"text-align: justify;\">DP World has insisted that Djibouti\u2019s shares purchase was prohibited under the High Court ruling, and described it as \u201cthe latest step in the Government of Djibouti\u2019s five-year campaign to take the 2006 Concession Agreement away from DCT.\u201d<\/p>\n<p style=\"text-align: justify;\">In its statement, DP World says: \u201cInvestors across the world must think twice about investing in Djibouti and reassess any agreements they may have with a government that has no respect for legal agreements and changes them at will without agreement or consent.<\/p>\n<p style=\"text-align: justify;\">\u201cIn an apparent attempt to circumvent the injunction, on 9 September 2018, the Government of Djibouti transferred PDSA\u2019s shares in DCT to itself.<\/p>\n<p style=\"text-align: justify;\">\u201cThe new decree was accompanied by a press release replete with untrue statements. It also refers to DP World being paid fair compensation in accordance with international law.<\/p>\n<p style=\"text-align: justify;\">\u201cThe 2006 Concession Agreement, which is governed by English law, provides that disputes relating to the Agreement are to be resolved through binding arbitration in the London Court of International Arbitration.<\/p>\n<p style=\"text-align: justify;\">\u201cSuch arbitration proceedings are ongoing. To date the Government has not made any offer to compensate DP World\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DP World, in a statement released by the government of<\/p>\n","protected":false},"author":1,"featured_media":13187,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,1366,442],"tags":[1493,544,2381,1760,31,32,1485,1297,75,45,1507],"class_list":["post-13180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-djibouti-en","category-news","tag-africa-en","tag-djibouti","tag-doraleh-container-ter","tag-dp-world","tag-maritimafrica","tag-maritime","tag-maritime-in-africa","tag-maritime-industry-en","tag-ports","tag-shipping-en","tag-terminals"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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