DP World takes over US automotive logistics company

Dubai's state-owned ports behemoth, DP World, has made an undisclosed acquisition of California-based containerised car shipping specialist and freight forwarder CFR Rinken. DP World, which proudly asserts its role in transporting one out of every ten new cars across the globe, has characterized this acquisition as a strategic move aimed at bolstering its ability to provide tailor-made solutions to its automotive clientele. Presently, DP World operates 16 roll-on/roll-off (RoRo) terminals, facilitating the shipping of over 30,000 cars in containers each year, and offering storage solutions for an impressive inventory of over 1 million cars. The company manages a substantial 2 million CEU (Container Equivalent Units) annually, all while delivering value-added services for vehicles that are ready for dealers. CFR Rinkens, on the other hand, has been a seasoned provider of volume containerization services for fully assembled vehicles and semi-knockdown kits for over two decades. In addition to its automotive services, CFR Rinkens extends bespoke logistics solutions to the burgeoning energy storage and battery lifecycle sectors. Notably, the company has witnessed a surge in demand for its services as automakers pivot towards electric vehicles and seek alternatives to the increasingly costly car carrier segment. The exact financial details of this acquisition remain undisclosed, but it reflects DP World's strategic efforts to diversify and strengthen its presence in the automotive logistics landscape, catering to the evolving needs of the industry, particularly in the context of the transition to electric vehicles.