Representing a potential change in some trading lanes for the international moving industry, the leader of one of the largest port operators in the world sees a redirection in global trade.
In an interview with the The Wall Street Journal, Sultan Ahmed bin Sulayem, the Chairman and Chief Executive, said that “disruptions are redirecting trade rather than slowing it,” and that DP World is expanding based upon opportunity. That includes spending US$2.5 billion to expand ports in Dubai, the Democratic Republic of Congo, Senegal, India, and the United Kingdom. The company has also signed deals in Syria, the Dominican Republic, and expansion of the Port of Montreal.
In response to the impact of U.S. tariffs, Bin Sulayem said, “Whatever cannot be absorbed or has difficulty going to the U.S. is going to other parts of the world. We are seeing a big increase in trade to Africa. But it’s not just Africa. Jebel Ali also serves the Indian subcontinent, the upper and lower Gulf, from Iraq to Eurasia as well as Asian countries. The [Commonwealth of Independent States] countries are huge—I think there is a $1.5 trillion possibility of trade in these landlocked countries.”
He also highlighted the increasingly important role of India in global trade. “In my opinion, India is better placed than China because from the Indian Ocean to Africa is so easy for them. We are building a big port in Gujarat called Tuna-Tekra. It will be not only a port but also an industrial park with manufacturing and other facilities. We are also the biggest private rail operator in India today. India has a lot of growth,” said Bin Sulayem.