UAE Shipping business is as usual. It's business as usual for port operators and shipping companies in the UAE as oil tankers and cargo ships sailed through Arabian Gulf waters peacefully despite growing tension in the region.
Analysts, shipping experts and leading industry players called for diplomatic efforts to defuse the tension in the wake of recent attacks on oil tankers in the Gulf of Oman that pushed insurance premiums and tanker rates to record highs despite a stable outlook for the global shipping sector in 2020.
Khaleej Times has learnt that shipping lines and port operators across the UAE have been functioning normal, with no cancellations or major changes in schedules of cargo shipping lines due to escalating US-Iran tension in the region. "It's business as usual in our operations," a DP World spokesperson told Khaleej Times in a statement. To a question about the outlook in the second half of 2019, the spokesperson added: "We don't forecast the future."
Referring to recent data issued by DNV GL, he said $65 billion (Dh239 billion) was invested into ports across the country during 2018.
"Taking these figures into account, WIN GD anticipates that the UAE's steady growth trajectory will continue throughout both the industry, and the nation, for the remainder of 2019 and beyond," he said.
Khaleej Times
