Just weeks after making headlines around the shipping world, Fairview Terminal is once again garnering attention from across the globe with a pending deal that would see the facility sold to DP World.
The deal is huge news for the North Coast that can really only be seen as a major positive for Prince Rupert’s future.
DP World is not a fly-by-night operation or a relative unknown in the shipping world. The company, owned by the Dubai government, owns and operates more than 50 terminals in 30 countries. Its operations range from terminals in developed countries such as the United Kingdom, Australia and France to lesser developed countries such as Mozambique, Algeria and even Pakistan. In fact, the company is no stranger to Canada as DP World owns a container handling facility in Vancouver.
And the company certainly has no shortage of money it can invest. Consider this: These 50 terminals in 30 countries began with a single operation starting in 1999 — less than two decades ago. The country is rich, based largely on its significant oil supply, and was recently listed by Brookings Global MetroMonitor as one of the Top 5 fastest growing economies in the world.
Now this international juggernaut has turned its attention to Fairview, a terminal still in its infancy compared to others around the world, and is quickly setting its sights on expansion. The announcement of Phase 2 North proceeding is a big deal as it will grow the terminal to 1.3 million TEUs — DP World will be undertaking a feasibility study that envisions a terminal capable of handling 2.43 million TEUs.
As the terminal owner and operator, Maher Terminals has done a phenomenal job in establishing the Prince Rupert gateway and guiding Fairview Terminal through some tough times.
Now the North Coast can wait with bated breath to see what type of bright future DP World will bring to the table in the years ahead.