DP World and Hapag-Lloyd Extend Partnership for Next Decade at Port of Santos

Core Insights - DP World has renewed a long-term agreement with Hapag-Lloyd for container-handling operations at the Port of Santos, securing collaboration for the next decade [1][4] - The renewal coincides with DP World's major expansion of its Santos terminal, which will extend the quay to 1,290 meters and increase annual handling capacity to 1.7 million TEUs by 2026 [2] - DP World is expanding its logistics network across Brazil, including new freight forwarding offices and a partnership with Rumo to build a terminal with an additional 12.5 million tons of annual grain and fertilizer handling capacity [3] Company Developments - The agreement with Hapag-Lloyd ensures long-term stability and access to DP World's growing capacity at Santos, enhancing predictability and efficiency for customers [4] - DP World handled a record 1.25 million TEUs at the Port of Santos in 2024, marking a 14% year-over-year increase, driven by expanded container services and rising trade volumes [5] - Investments in Brazil are part of DP World's broader growth strategy across Latin America, with ongoing projects in Ecuador, Peru, Chile, and the Dominican Republic [5]