Government of Dubai Media Office – 29 April 2018: The Vice President and Prime Minister of the UAE; and the Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, today attended the launch of DP World Cargospeed, a new global company created through a partnership between global trade enabler DP World and Virgin Hyperloop One, to provide hyperloop-enabled cargo systems to support the fast, sustainable and efficient delivery of palletized cargo.
The first initiative of its kind in the world, DP World Cargospeed will provide exceptional service for high-priority, on-demand goods., delivering freight at the speed of flight and closer to the cost of trucking.
His Highness Sheikh Mohammed bin Rashid said: “The UAE is keen to be a leading player in shaping the future of the world.”
“Being a pioneer means taking bold decisions that open the way for adopting innovative solutions,” His Highness said. “We have big aspirations because we have unlimited mindsets and the confidence that we can achieve whatever we set our minds to.”
His Highness said that advanced technologies are at the center of the UAE’s vision for development, which is driven by a deep understanding of the needs of the future. He underscored the importance of constantly exploring new technologies that can enhance efficiencies and processes while maintaining the highest levels of quality. His Highness hailed DP World’s contribution to world trade and its role in raising the UAE’s profile as a leader and pioneer in the trading sector.
Sultan Ahmed Bin Sulayem Introduces DP World Cargospeed vision for future of on-demand freight transportation
DP World and the US-based Virgin Hyperloop One introduced their vision for the future of on-demand freight transportation enabled by DP World Cargospeed at an event hosted by Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO, and Sir Richard Branson, Virgin Group Founder and Virgin Hyperloop One Chairman, at the historic vessel Queen Elizabeth II.
Sultan Ahmed Bin Sulayem, said: “Throughout history, cargo has always been the catalyst for transport revolutions. With a bold vision for the future, Dubai has always pushed the boundaries of innovation.”
“This spirit of innovation has enabled us to become a world leader in logistics,” Sultan Ahmed Bin Sulayem said. “We have made a significant investment in Virgin Hyperloop One because we see the need for a hyperloop-enabled cargo network to support rapid, on-demand deliveries globally.”
“We believe in Virgin Hyperloop One’s long-term vision,” Sultan Ahmed Bin Sulayem told guest. “They are the right partner to shape the future of global logistics, and we look forward to developing the first DP World Cargospeed systems with them.”
Branson Predicts Hyperloop will make On-Demand Delivery the Norm
Sir Richard Branson, said: “The global growth of e-commerce is driving a dramatic shift in both consumer and business behavior.”
“On-demand deliveries are a novelty today,” Branson noted. “Tomorrow it will be the expectation.”
“DP World Cargospeed systems powered by Virgin Hyperloop One will enable ultra-fast, on-demand deliveries of high-priority goods and can revolutionize logistics, support economic zones, and create thriving economic megaregions,” Branson predicted.
Hyperloop can Move Cargo at 300-Metres a Second
Hyperloop is a futuristic mode of passenger and freight transportation in which a pod-like vehicle is propelled through a near-vacuum steel tube, with most of its air removed, at higher than airline speed. Next-generation magnetic levitation technology combined with a low-pressure tube environment enables the pods to move quickly with little friction.
Hyperloop can achieve top speeds of up to 300-meters per second, making it two to three times faster than high-speed rail. The technology facilitates autonomous operations designed to reduce human errors and run with minimal delays.
Hyperloop is more cost-effective to implement and operate than high-speed rail. Being electric and lacking zero direct emissions make Hyperloop a highly environmentally friendly technology.
DP World Cargospeed systems, enabled by Virgin Hyperloop One technology, will transport high-priority, time-sensitive goods including fresh food, medical supplies, electronics, and more. It will expand freight transportation capacity by connecting with existing modes of road, rail and air transport.
Hyperloop Supply Chains can Dramatically Reduce Bottom Lines
Rob Lloyd, CEO of Virgin Hyperloop One, said: “Based on McKinsey’s assessment of our technology, Virgin Hyperloop One-enabled supply chains can dramatically impact business bottom lines by reducing both finished goods inventory and required warehouse space by 25%.”
“Collectively, we chose to call our Virgin Hyperloop-enabled cargo solution DP World Cargospeed, because speed is about more than just getting from A to B; it’s about optimizing the entire end-to-end journey,” Lloyd explained. “DP World Cargospeed will offer unprecedented customer experience, reliability and the freedom from having to plan too far ahead.”
The Virgin Hyperloop One system underpinning DP World Cargospeed is unique in that it doesn’t need to be passenger-only or cargo-only. It is a mixed-use system that fully utilizes system capacity and maximizes economic and social benefits. Systems are 100% electric and can be powered by renewable energy, creating a more sustainable solution for cargo transport.