DP World, a company based in Dubai, has acquired Fraser Surrey Docks.
Announced Monday (Feb. 24), DP World and its partner Caisse de dépôt et placement de Québec (CDPQ) had finalized purchasing Fraser Surrey Docks from Macquarie Infrastructure Partners.
A news release from DP World states that Fraser Surrey Docks “complements DP World’s footprint in Canada, which also includes terminal operations in Vancouver, Nanaimo, Prince Rupert and Saint John. The integrated coast-to-coast platform provides customers with bulk, breakbulk and general cargo.”
Sultan Ahmed Bin Sulayem, DP World group chairman and CEO, said Fraser Surrey Docks “bolsters” their footprint on Canada’s west coast.
“DP World has been seeing growing demand from our customers for multi-purpose facilities in the region and we believe Fraser Surrey Docks has the relevant infrastructure and is in the right location to service this demand,” he said in a release. “We are confident that our innovative approach will bring DP World’s best-in-class terminal operations to Fraser Surrey Docks.”
Matt Leech, the CEO and managing director of DP World Americas, said the company looks forward “to helping Fraser Surrey reach its full potential and generating value over the long-term for DP World and its customers.”
According to Fraser Surrey Docks’ website, it is the “largest modern, multi-purpose terminal on the west coast of North America.” It has seven berths, along with 63 hectares of yard area and four sheds providing 30,654 square metres of covered storage for “weather-sensitive cargo.”
It was founded in 1962.
Fraser Surrey Docks “handles between 300 and 400 deep-sea vessels up to Panamax size.” Panamax describes the size of vessel able to travel through the Panama Canal.
“Each year, millions of tons of cargo move through Fraser Surrey Docks and in 2007 the facility handled over 185,000 TEUs (twenty-foot equivalent units) of containers.”