London tribunal finds Djibouti port seizure illegal

DP World’s concession agreement to operate Doraleh Terminal remains “valid and binding”, arbitrators rule

DUBAI: The Djibouti government’s seizure of control of Doraleh Container Terminal from DP World was illegal, an Arbitral Tribunal of the London Court of International Arbitration ruled on Thursday.

As a result DP World’s concession to operate the port “remains valid and binding” and laws and decrees issues to the contrary by the Djibouti government were devices to avoid its contractual obligations, the tribunal rules.

DP World wil now reflect on the ruling and review its options, the firm said in a statement issued by Dubai Media Office.

SOURCE:GULF TIMES