The Globe and Mail reports in its Tuesday edition that Dubai-based DP World has signed a memorandum of understanding with the owner of Manitoba's Port of Churchill to explore the development of an expanded northern shipping corridor. The Globe's Jeffrey Jones and James Bradshaw write that the MOU aims to modernize the Hudson Bay port into a multibillion-dollar export and import facility, extending its operational months. Churchill's prime target for trade is Europe, as Canada seeks to reduce its reliance on the United States. The agreement announced Monday commits DP World, Port of Churchill owner Arctic Gateway Group and dry port operator CentrePort Canada to work toward the "development of an integrated transportation corridor," the three companies said in a news release. The partnership could link the Port of Churchill and its affiliated Hudson Bay Railway to CentrePort's inland freight facilities, and connect them to DP World's global network. DP World's Canadian arm operates port facilities such as container terminals in cities including Vancouver and Prince Rupert. One of Canada's largest pension funds, the Caisse de depot et placement du Quebec, owns a large minority stake in DP World's Canadian entity.