DP World takes over US automotive logistics company CFR Rinken
Dubai’s state-owned ports giant DP World has acquired California-based containerised car shipping specialist and freight forwarder CFR Rinken for an undisclosed sum.
DP World, which claims to transport one in every ten new cars worldwide, said the acquisition was a “strategic move to enhance its capabilities in delivering precisely tailored solutions to its automotive clients”.
Currently, the company operates 16 roro terminals, shipping over 30,000 cars in containers annually, and offering storage solutions for over 1m cars. It handles 2m ceu each year, while also providing value-added services for dealer-ready vehicles.
CFR Rinkens has been providing volume containerisation services for finished vehicles and semi-knockdown kits for more than 20 years and also offers tailored logistics services to the emerging energy storage and battery lifecycle industries. The company has seen an increase in demand for its services as automakers switch to electric vehicles and seek to avoid prohibitively high costs associated with the car carrier sector.
“This acquisition brings new dimensions to the company’s comprehensive suite of services,” DP World said.
