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DP World signs 50-year Fujairah port deal outside Strait of Hormuz

Verifying
  • DP World finalized an in-principle agreement for two Fujairah deep-water terminals.
  • 50-year concession terms cover 2.5 million TEUs and 3.6 million tonnes annually.
  • The Strait previously carried around 20% of global seaborne oil supplies.
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