DUBAI, Oct 1 (Reuters) – Dubai ports large DP World sees no early finish to disruptions in international provide chains which have set off delays at ports and logistics hubs around the globe, its chairman stated on Friday.
The disruptions, a results of pandemic lockdowns and an unexpectedly speedy restoration in demand, have additionally led to transport container shortages and skyrocketing freight charges.
“I actually do not suppose it should be resolved this yr, DP World’s Sultan Ahmed bin Sulayem informed Reuters on the opening day of Expo in Dubai, itself delayed a yr by the pandemic.
He stated he couldn’t predict when the disruptions would finish however that he hoped for a breakthrough someday subsequent yr.
“I do not see it ending quickly however… I believe as quickly as most individuals are vaccinated will probably be over,” bin Sulayem stated.
The availability chain disruptions have been compounded as ships look ahead to days to enter some ports equivalent to in Southern California the place a document variety of vessels have waited off the coast.
Bin Sulayem stated DP World was coping with delays however that its ports had sufficient capability and weren’t experiencing logjams.
“All our ports have sufficient capability … we’ve got no subject,” he stated, including that DP World was not rising charges regardless of the robust demand for ocean transport.
State-owned DP World, one of many world’s greatest port operators with over 90 terminals throughout six continents, noticed transport container volumes rise 17.6% within the second quarter.
Bin Sulayem additionally stated the corporate noticed funding alternatives in Africa and Latin America, two markets that he stated had been performing effectively.
Reporting by Alexander Cornwell; enhancing by Jason Neely, Jane Merriman and Toby Chopra
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