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August 30, 2015 2:02 PM ET

Air Freight and Logistics

Company Overview of Dubai World Corporation

Company Overview

Dubai World Corporation, through its subsidiaries, provides transport and logistics, drydocks and maritime, urban development, and investment and financial services. It offers international marine terminal operations and development, logistics, and related services; and P&O maritime, crane and cargo services, and container rail road services. The company also provides offshore and engineering, ship repair and maintenance, shipbuilding and conversion, rig building and refurbishment, floating crane services, ship lift services for docking and undocking, plant and equipment leasing, FPSO/FSO conversion, and offshore fabrication services; and maritime clusters and yacht, and fleet operations wit...

5th Floor, JAFZA 17

Jebel Ali Free Zone

PO Box 17000

Dubai,  

United Arab Emirates

Founded in 2006

Phone:

971 4 8818808

Fax:

971 4 8817722

Key Executives for Dubai World Corporation

Group Chief Executive Officer
Age: 57
Chief Financial Officer
Group Chief Operating Officer
Chief Executive Officer of DP World Limited
Age: 53
Secretary General
Compensation as of Fiscal Year 2015.

Dubai World Corporation Key Developments

Dubai World Reaches Agreement to Extend $14.6 Billion Debt

Dubai World announced that it has secured an agreement with the legal number of creditor banks necessary to amend and extend the maturity of $14.6 billion in debt. The state-owned conglomerate will make an early repayment of $2.82 billion due this year and extend the current debt due date of 2018 to 2022.

Dubai World Plans to Repay USD 4.4 Billion Loan in May 2015

Dubai World plans to make its first big repayment in 2015. Dubai World will repay the USD 4.4 billion loan in May 2015, as scheduled, while other repayments will be paid early.

Dubai World Prepays $284.5 Million to Creditors

Dubai World has prepaid $284.5 million to creditors under its $25 billion debt restructuring plan. The conglomerate obtained money for the prepayment from asset sales. Under the terms of the restructuring deal, cash raised from asset sales above a threshold of $300 million is to be distributed as early repayments to creditors, which include big Western and Gulf banks. The debt problems of Dubai World, which holds financial and corporate assets across the world, symbolized the emirate's 2009 financial crisis. The early repayment is a sign that so far at least, efforts to resolve those problems are working.

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