“Dubai Ports” does not expect the end of global shipping bottlenecks in 2021

“Dubai Ports” does not expect the end of global shipping bottlenecks in 2021
“Dubai Ports” does not expect the end of global shipping bottlenecks in 2021

Sultan bin Sulayem:
We did not raise prices despite strong demand for ocean transportation
We deal with delays and our ports have sufficient capacity and do not experience congestion
The company sees investment opportunities in Africa and Latin America
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The head of Dubai Ports World said on Friday that the Dubai port giant does not expect an early end to global supply chain disruptions that have resulted in delays in ports and logistics centers around the world.
The disruptions, caused by the closures aimed at combating the Covid-19 pandemic and an unexpectedly rapid recovery in demand, have also caused a shortage of shipping containers and a record price increase.
“I don’t really think that (the problems) will be resolved this year,” Sultan Ahmed bin Sulayem, head of Dubai Ports, told Reuters during the opening of the Dubai Expo, which was postponed for a year due to the pandemic.
He said he could not predict when the unrest would end, but hoped for some kind of breakthrough next year.
“I don’t expect it to end soon, but… I think once most people are vaccinated, it will be over,” Ibn Sulayem said.
Supply chain disruptions have worsened as ships wait days to enter ports such as Southern California, where a record number of ships are waiting off the coast.
He added: His company is dealing with delays, but its ports have sufficient capacity and are not witnessing overcrowding.
“All our ports have enough capacity…we don’t have a problem,” he said, adding that Dubai ports had not raised prices despite strong demand for ocean transport.
The government-owned DP World is one of the world’s largest port operators, with more than 90 ports across six continents, and saw a rise in container volumes of 17.6 percent in the second quarter.
Ibn Sulayem also said that the company sees investment opportunities in Africa and Latin America, two markets that are doing well.
(Reuters)

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Dubai Ports expect global shipping bottlenecks

 
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