UAE Based Company Helping to Manage Pusan’s Ports

Some of you may be familar with the current controversy in the US over allowing a Dubai based company to operate major US coastal ports:

“We’re calling for the full six-week investigation. It’s a serious investigation and the reason why this is critical is while maybe there’s nothing wrong with this company, how do we know they’re not infiltrated?” asked Sen. Chuck Schumer, D-N.Y. “The United Arab Emirates has had people involved in terrorism. In fact, some of its financial institutions laundered the money for the (Sept, 11) terrorists. And to just blithely go ahead and treat this as another economic transaction is all wrong.”

Currently, London-based Peninsular and Oriental Steam Navigation Co., the fourth largest port operator in the world, runs the six ports. But the $6.8 million sale of P&O to UAE-owned Dubai Ports World (DPW) would effectively turn over North American operations to the government-owned company in Dubai.

If the approval is unchallenged, Dubai Ports World would run the ports of New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia.

Interestingly enough the United States is not the only country with a Dubai based company managing port operations:

Al-Bayan newspaper reported on the opening ceremony for the new Busan Port in South Korea held in mid-January 2006 with the participation of a delegation from the Dubai International Ports Company.

This ceremony celebrated the completion of the first stage of work to develop this port, including developing the container terminal of the port. Taking part in the Dubai delegation were Assistant Manager for Operations of the Dubai International Ports Company Sultan bin Salim, Deputy Chairman of the Board Jamal bin Thanya, Operations Manager Muhammad Sharaf, and Assistant Manager for Financial Matters Hamid Ahmad Kadhim.

I for one do not believe that something as sensitive as US port operations should be handled by any foreign country much less one from the Middle East.