Date: Monday, 18 June 2018
Dubai: DP World, Dubai-based global marine terminal operator, has denied media reports that the company was looking for an out-of-court settlement
“It has been noted in some reports that DP World may consider an out of court settlement with respect to the dispute with the Djiboutian government over their illegal action in taking control of the port at Doraleh,” a company statement said
A DP World spokesperson said that the concession agreement remains in place, and the action taken by the Djiboutian government is subject to legal process in the International court of Arbitration in London.
“We await the outcome of this process. We remain committed to operating Doraleh port as per original agreement of the concession, and we will not consider any other alternative settlement option.”
A DP World-owned entity designed, built, and has operated the terminal pursuant to a concession awarded in 2006.
Djibouti seized control of the Doraleh Container Terminal in February.
The terminal, the largest employer and biggest source of revenue for Djibouti, has been operating on profit. The terminal’s seizure was the culmination of Djibouti’s campaign to force the DP World to renegotiate the terms of concession, despite those terms being found to be “fair and reasonable” by a London Court of International Arbitration Tribunal.