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Thursday, 18 August 2016

DP World to slow down expansion of Jebel Ali port due to ‘softer conditions’ | The National

DP World to slow down expansion of Jebel Ali port due to ‘softer conditions’ | The National:

"DP World plans to slow down expansion of its Jebel Ali port due to "softer market conditions" amid a grim global trade outlook.

The Nasdaq Dubai-listed port operator last year had planned to spend US$1.6 billion on a fourth terminal in Jebel Ali to boost capacity by 16 per cent to 22.1 million twenty-foot equivalent units (TEU) by 2018.

DP World is now delaying the 1.5 million TEU expansion of Terminal 3 at Jebel Ali into 2017 and will slow down construction of Terminal 4, without giving a new date of completion, chairman Sultan bin Sulayem said in a statement."



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