The head of Dubai Ports World said today, Wednesday, that there is no end in sight to the shortage of shipping containers, port congestion and the very high freight rates that affect global trade.
The bottlenecks are caused by the imposition of the coronavirus pandemic restrictions and the unexpectedly rapid recovery of demand as economies recover from the pandemic.
“These are the complexities,” Sultan Ahmed bin Sulayem said during a conference within the framework of Expo 2020 in Dubai. Nobody knows how long it will take. I think it will take a long time.” He declined to speculate when the unrest would end.
“The problem is complicated because you have a backlog of shipments,” he added.
State-owned Dubai Ports World is one of the world’s largest port operators, operating more than 90 facilities in six countries.
The head of the company said that the workforce in DP World will increase from 56,000 today to nearly 100,000 within three to four months.
The article DP World: Resolving the disruption of shipping supply chains will take a long time was written in Al Borsa newspaper.