DP World sees rising demand at Red Sea hubs due to Iran tensions

Global ports operator DP World expects rising volumes at its Red Sea terminals as the Iran conflict nears the two-week mark, its CEO said on Thursday, with the Strait of Hormuz shut and spiralling tanker attacks cutting traffic towards Gulf ports.

The conflict, triggered by US and Israeli airstrikes on Iran, has disrupted energy and transport markets and effectively closed the world's most important oil artery.

Most major gulf ports are reachable only via the narrow Hormuz waterway. Jebel Ali in Dubai, DP World's flagship hub, remains fully operational with no infrastructure damage but is seeing lower inbound vessel traffic, CEO Yuvraj Narayan said. Volumes are "still moving through the ports on the eastern side of the Strait of Hormuz," he added.