Dubai – Mubasher: An Arbitral Tribunal affiliate to the London Court of International Arbitration (LCIA) has confirmed on Thursday that Djibouti’s government seizure of Doraleh Container Terminal from the UAE's DP World Company is illegal, and hence null and void.
The tribunal also announced that Doraleh Container Terminal’s Concession Agreement between the government and the Dubai-based ports operator is still effective in spite of the law and the decrees tailored by the African country to lay the legal ground of the seizure.
In February, the Djiboutian government seized control of the Doraleh Container Terminal from DP World, that designed, built, and operated the terminal since 2006, after awarded concession.
Djiboutian officials have denounced the concession, aiming at renegotiating its terms, but another LCIA tribunal deemed it “fair and reasonable”.
DP World is a global trade enabler operates multiple related businesses ranged from marine and inland terminals, maritime services, logistics and ancillary services to technology-driven trade solutions.
