DP World likely to shift to new terminal in 2019

Dubai: DP World said on Thursday it is likely to start using the fourth terminal at its flagship Jebel Ali port in the second half of 2019, after utilisation of the terminal was delayed due to a softening market.

The ports operator said the terminal is essentially ready for operations and has more cost efficiencies than Terminal 1.

“Whilst the intention was that this (Terminal 4) was supposed to take in new cargo, given the current slowdown in the market place, we will use this opportunity to refurbish Terminal 1 … and move some of the cargo to Terminal 4,” said Yuvraj Narayan, DP World Group’s chief financial officer.

He added during a press conference that infrastructure of Terminal 4 is ready, but the company doesn’t intend to develop it further until the business environment improves.

Development of Terminal 4 was put on hold in 2016 due to challenging conditions in the shipping market and amid a slowdown in the UAE’s economy as oil prices plunged.