Inert global development has shelved UAE-based DP Worlds Jebel Ali terminal plans.
The worlds largest port operator has delayed the expansion of its $1.5 billion (1.06 billion) third terminal in the port town.
In response to the current market, we are deferring expansion plans on the terminal in until such time as market demand returns, DP World states.
The operator completed the expansion of Terminal 2 in Jebel Ali in Q1 this year, taking capacity there to around 11 million TEUs.
The unpredictable trends in worldwide trade have continued into 2009 resulting in a volume decline across DP Worlds business of 10% for the first four months of the year.