Further to the news reported in ePortal earlier this month, Dubai-headquartered DP World said it will develop two new maritime terminals in Fujairah on the United Arab Emirates’ eastern coast.
Outlining the project, which it has agreed to with the Fujairah Ports Authority under a 50-year concession, DP World said that the expansion will include a container and multipurpose terminal and a general-cargo terminal. Construction is expected to take about 24 to 30 months. Once complete, the terminals would increase DP World’s container-handling capacity in the UAE to nearly 22 million 20-foot equivalent units (TEUs) from the current 19.4 million. DP World also confirmed that the new facilities would be integrated with the company’s logistics network at Jebel Ali to provide additional capacity.
Fujairah is the only major UAE port on the Gulf of Oman, outside the Strait of Hormuz, and the project has taken on more importance following the war between the United States and Iran that has currently effectively closed the Strait of Hormuz, with significant impact on the international moving industry.
IAM Member Impact: The Fujairah project gives IAM members in the country a look at what durable relief could look like once complete. With capacity for UAE container handling rising, members moving household goods through the region have a clear long-term signal that regional shipping resilience is being rebuilt.
Source: Wall Street Journal