Dubai planning new port to bypass Iran in Strait of Hormuz

• Dubai is planning to build a new port and terminal in Fujairah to circumvent Iran's control over the Strait of Hormuz .
• This initiative by DP World follows significant disruptions to the vital shipping route, which handles one-fifth of the world's oil , due to US-Israeli strikes on Iran and subsequent Iranian retaliatory actions.
• The project aims to lessen the UAE 's dependence on its main Jebel Ali port and avoid transit through Hormuz, which has experienced recent attacks, including an Iranian missile strike on Jebel Ali.
• The UAE has been heavily affected by Iranian retaliatory strikes, with reports of nearly 3,000 drones or missiles fired at the country, alongside recent attacks on oil tankers in the region.
• DP World is set to invest hundreds of millions of dollars initially, signifying a major strategic shift for the UAE, though officials confirm Jebel Ali will retain its importance.

IN FULL

Dubai to build new port to bypass Strait of Hormuz as Iran continues attacks on ships