Drewry Sees DP World's Traffic Jarred by Politics, Rival Port - Bloomberg:
U.S. sanctions against Iran and competition from Abu Dhabi are reducing traffic at DP World Plc’s home ports in Dubai, according to industry consultant Drewry.
Restrictions on cargo shipments to Qatar due to an embargo by the United Arab Emirates and some other Arab nations have also hurt container traffic in Dubai. However, the recent surge in tensions over shipping incidents in the Persian Gulf region have had little if any impact on DP World’s second-quarter throughput, said Neil Davidson, senior analyst for ports and terminals at London-based Drewry.
DP World, which operates ports from Vancouver to Hong Kong, released data on Tuesday showing that it handled smaller cargo volumes in Dubai for the fifth consecutive quarter. The company runs cargo terminals at Jebel Ali and Port Rashid in Dubai in the U.A.E.
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