DP World Cleared of Misconduct over Djibouti Terminal
The London Court of International Arbitration has cleared DP World, one of the world's biggest port operators, of all charges of misconduct over a concession to operate a container terminal in Djibouti, Dubai's government said on Tuesday.
In 2014 the government of the East African country lodged claims accusing DP World, majority-owned by the Dubai government, of illegal payments to secure a 50-year concession for the Doraleh Container Terminal, the Dubai government said.
On Tuesday the court dismissed the claims and ordered the claimants to bear the costs of the arbitration, Dubai said. DP World has continued to manage the terminal during the dispute.
Reporting by Andrew Torchia