U.S. Coast Guard Vice Commandant on Dubai Ports World

Vice Admiral Terry Cross, Vice Commandant of the U.S. Coast Guard, makes flowing statement on Dubai Ports World:

"Early in the CFIUS process, the Coast Guard's initial review identified potential intelligence gaps. Since completing its initial intelligence assessment, the Coast Guard has continued its due diligence by auditing all P&O operations in the United States, examining DPW operations outside the United States, obtaining formal assurances from DPW regarding ongoing access to information on personnel and operations, and further evaluating the proposed transaction in conjunction with other elements of the intelligence community.

These additional efforts have reinforced the conclusion of the Coast Guard's initial assessment, and the Coast Guard continues to believe that, 'DP World's acquisition of P&O, in and of itself, does not pose a significant threat to U.S. assets in [continental United States] ports.'

In fact, the Coast Guard will have more information about the affected terminals under DPW ownership than it currently does under P&O's ownership. During the 45-day review period, the Coast Guard will continue to work diligently within the Department of Homeland Security and the intelligence community to ensure that port security concerns are fully raised and objectively analyzed."