《Financial Times》: Dubai Plans New Port to Bypass Strait of Hormuz

BlockBeats News, July 13th - According to the Financial Times, DP World, the Dubai-based global port operator, is planning to build a new port and container terminal on the eastern coast of the UAE to reduce Dubai's reliance on its flagship port, Jebel Ali Port, and bypass the Strait of Hormuz.

Sources revealed that the port operator is in discussions to develop a new multipurpose port in the Fujairah coastal area and to construct a new terminal within the existing port.

Over the past two decades, DP World has grown into one of the UAE's most internationally influential companies, establishing a vast global network of ports and logistics. However, Jebel Ali Port remains a core asset for the group and its owner, Dubai. The shift of some port throughput capacity outside Dubai holds significant implications for the city, as its establishment as a global trade and financial hub is in part attributed to the robust development of Jebel Ali Port.