Dubai ports giant 'prepares for worst' as virus impact loomsContainers are stacked at the port of Jebel Ali, operated by the Dubai-based giant ports operator DP World, on the southern outskirts of the Gulf emirate. DUBAI: The giant Dubai-based ports operator DP World is "preparing for the worst" in the months ahead, as coronavirus inflicts the heaviest blow on global trade since World War II. Already one of the most profitable government-linked entities in Dubai, DP World has spent billions of dollars on assets ranging from P&O Ferries in Britain to terminals in Chile. Predictions of a U or V-shaped recovery, with a slump followed by a pick-up, were too optimistic, Bin Sulayem said. DP World in 2019 handled 71.2 million TEU (twenty-foot equivalent units), putting it among the top five operators in the world.

Source: Bangkok Post June 21, 2020 03:11 UTC