Dubai-based global marine terminal operator DP World said its fully-owned subsidiary P&O Maritime has acquired the leading Spanish group Reyser.

 

Announcing the strategic takeover, P&O Maritime said Reyser has been providing maritime services internationally since 1966.,

 

It has long term agreements in 10 ports in Spain and contracts with two international Liquefied Natural Gas (LNG) terminals at Saint John, New Brunswick in Canada and Point Fortin in Trinidad and Tobago. 

 

The company’s services include harbour towage, mooring, bunkering, diving and environmental support. It owns 151 vessels including 20 Tug boats, 53 mooring boats, 5 Bunkering vessels and 73 ships conducting environmental work. 

 

DP World Group chairman and chief executive Sultan Ahmed Bin Sulayem, said the Spanish group's acquisition underlines the further development of maritime services business. 

 

"As a global trade enabler we have been developing it globally spearheaded by the world renowned P&O Maritime brand to complement our core business of ports and terminals. This is all part of our broader strategy to grow complementary sectors in the global supply chain such as industrial parks, freezones and logistics supported by new technologies adding value for all our stakeholders," remarked Bin Sulayem.

 

Rado Antolovic, the managing director of P&O Maritime, said: "This is a landmark deal in our more than 50-year history, underlining our global intentions to provide maritime services across diverse markets around the world."

 

"The acquisition allows us to consolidate our market position in Spain while securing entry in new geographies and markets, offering significant scope to diversify and grow our business. We are confident about the medium-to long term growth potential of this business and our ability to drive sustainable value for all stakeholders," he added.-TradeArabia News Service