DP World is expanding in Western Europe, as demand grows for specialized warehousing and more routes during a fragile time for global supply chains. The Dubai-owned logistics giant plans to build a logistics hub in the Port of Antwerp, set to cost up to €100 million ($116 million), focused on pharmaceuticals and fresh produce. DP World is also acquiring six warehouses from Connecticut-based GXO, which serve supermarket chains in England and Northern Ireland.
The Iran war has put DP World on the back foot at home, with activity at Jebel Ali port in Dubai plunging some 90% after the Strait of Hormuz closed, the Financial Times reported. To reduce its dependence on the waterway, the company is planning to develop two terminals on the UAE’s east coast.