DP World expands land routes and truck fleet amid Hormuz disruption
DP World is expanding overland logistics and port investments after disruptions around the Strait of Hormuz. The firm plans to grow its truck fleet from about 700 to 1,000 and has launched road and hybrid sea-road services via Turkey, handling about 50 trucks weekly, while pursuing a Europe-Iraq-UAE corridor. It has committed roughly $800 million to terminal upgrades at Jeddah and Tartus and announced two deepwater terminals on the UAE eastern coast. The company sold $1.6 billion in bonds to fund upgrades, and Jebel Ali volumes fell nearly 60% in the first half.
DP World will grow its truck fleet to 1,000 trucks
Context
A war involving Iran disrupted shipping through the Strait of Hormuz. DP World briefly suspended Jebel Ali and saw big volume drops. The company is now adding land routes and funding port upgrades, and talks with Baghdad may follow.
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