Israeli company endorses port deal
CNN ^ | March 2 2006
 

The chairman of Israel's largest shipping firm has strongly backed a deal that would give a Dubai-based shipping company control of several U.S. port terminals.

The revelation comes as Britain's Royal Court of Justice tentatively approved the $6.8 billion merger between DP World and Britain's P&O, the current operator of terminals at six key U.S. ports.

But pending an appeal by U.S.-based cargo handler Eller & Co., the judge has stayed that approval until 3 p.m. Friday. Nonetheless, DP World has agreed not to assume control of P&O's port operations until a 45-day security review can take place.

In a letter to Sen. Hillary Clinton, obtained exclusively by CNN, Israel's Zim Integrated Shipping Services CEO, Idon Ofer, called DP World a strong business partner, despite the United Arab Emirates' boycott of Israel.

"During our long association with DP World, we have not experienced a single security issue in these ports or in any of the terminals operated by DP World," Ofer said in a letter written February 22. "We are proud to be associated with DP World and look forward to working with them into the future."
 

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