Why It Matters
An arbitration tribunal declined to award damages to DP World in its dispute with Djibouti's state-owned port operator over the Doraleh Container Terminal, a ruling reported in October 2025, and TI Capital Management LLC is on record lobbying on the ramifications of U.S. investment in Djibouti and a foreign investment dispute in its quarter three 2026 report. The dispute centers on DP World's 2006 concession to operate the Doraleh Container Terminal, a major commercial port on the Red Sea corridor, which Djibouti's government seized in 2018, triggering years of international arbitration with hundreds of millions of dollars in competing claims.
In a late-September 2025 arbitration ruling, DP World says roughly $685 million in existing awards remain enforceable, and claims of about $1 billion against Djibouti and China Merchants remain active.
By the Numbers
The third-quarter 2026 filing reports $270,000 paid to Akin Gump Strauss Hauer & Feld LLP. That matches the $270,000 reported in each of the first and second quarters of 2026, with no change across all three periods. TI Capital Management's total across the three quarters on record is $810,000.
The third-quarter filing names four lobbyists, one fewer than the five listed on each of the first- and second-quarter filings. David Giordano, who appeared on the first- and second-quarter filings, is not listed on the third-quarter filing; no new lobbyist was added.
The four lobbyists on the filing, all with Akin Gump:
- Joe Fawkner, senior policy adviser, with prior congressional staff experience in the House, including service in the office of Rep. Carol Miller (R-WV-1)
- Geoff Verhoff, senior adviser, with a prior Senate internship
- Scott Parven, partner, with prior government experience
- Ryan Thompson, senior adviser, with prior Senate staff experience including service as chief of staff in the office of Sen. James M. Inhofe (R-OK)
The team has congressional experience in both chambers: two members with Senate experience and one with House staff service, making it well positioned to engage across committees with jurisdiction over foreign investment and international trade.
Broader Context
The September 2025 arbitration ruling is the latest development in the dispute over the Doraleh Container Terminal.
On Sept. 29, 2025, a London Court of International Arbitration tribunal declined to award damages to Dubai-based DP World in its dispute with Djibouti's state-owned Port de Djibouti SA (PDSA) over the loss of the Doraleh Container Terminal concession.
DP World said the tribunal confirmed that Djibouti's 2018 seizure of the terminal was unlawful and that its 50-year concession remained valid; it said roughly $685 million in existing awards remained enforceable, and claims of about $1 billion against Djibouti and China Merchants remained active.
Djibouti's government welcomed the ruling, arguing that DP World's nearly $1 billion claim against PDSA was unfounded and was entirely dismissed because PDSA did not terminate the concession; it said DP World was ordered to pay $1.85 million toward PDSA's legal expenses.
The two sides' competing characterizations of the same ruling show how differently each describes its outcome.
The U.S. Department of State's 2025 Djibouti Investment Climate Statement noted that a U.S. court upheld a $200 million arbitration award for DP World in July 2024, and described the broader concession dispute as remaining in arbitration at the time of publication.
Djibouti ratified the International Centre for Settlement of Investment Disputes (ICSID) Convention, which was set to enter into force for the country on July 9, 2020.
The Bottom Line
DP World says its claims of about $1 billion against Djibouti and China Merchants remain active after the September 29, 2025, arbitration award. Across the three complete quarters on record, TI Capital Management's team with Akin Gump shrank by one lobbyist while its quarterly fee held steady at $270,000.
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