The sale of DP World port assets in the US will be concluded in the next six weeks, with the buyer likely to be an international shipping line, reports from the Middle East cited Jamal Majid bin Thaniah, Group Chief Executive of Ports and Free Zone World.

"...it has been an interesting bid process and there are many interested parties despite the speculation that the assets were overpriced - I am very happy with the way the matter has progressed," Thaniah told Khaleej Times.

DP World, which acquired Peninsula & Oriental Steamship (P&O) earlier this year was forced into putting its newly acquired US assets up for sale after a political backlash following the P&O sale.

While the deal was cleared by CFIUS (Committee on Foreign Investment in the United States), opponents declared the sale a threat to US national security, and amid on-going pressure DP World decided to sell the US assets.

Thaniah went on to say that while such opposition took the company by surprise, it has done little to dent economic and political relations between the United Arab Emirates (UAE) and the US.

While no further information was forthcoming as to the line or lines which are in the frame to purchase the US ports businesses, any successful buyer will need to satisfy the concerns of objectors on the basis of homeland security.

DP World acquired container terminal operations at New York, New Jersey, Philadelphia, Miami, Baltimore and New Orleans ports under the P&O deal.