Disappointed with Extension Contract Terms, DP World Not To Renew-Contract for TPS

DP World announces not to renew its operating contract for PT Terminal Petikemas Surabaya (TPS) at the end of the agreement in 2019. DP World is a 49% shareholder in TPS, which represents 2.1 million TEUs out of 85 million TEUs for the Group.

“Over the last 20 years, Surabaya has benefitted from DP World’s productivity-enhancing systems, training and development programmes, as well as security, safety and environmental best practices”. “We have invested significantly in the terminal infrastructure, which has created jobs and contributed to the growth of both the port and the region,” DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said. “We are therefore disappointed that the operating contract renewal terms offered by the Indonesian authorities did not meet our threshold for continued investment”.