Feb 14 2012 |
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Strike At DP World's Egypt Terminal Halts Work For Third Day
Tuesday, Feb 14, 2012
DUBAI (Zawya Dow Jones)--A strike by port workers halted work at DP World 's (DPW.NDB) Sokhna terminal in Egypt for the third straight day Tuesday, but the Dubai-based global ports operator hopes to resume normal operations soon.
"Our primary concern is the safety of our people. While we do not anticipate much disruption to our business, we hope to resolve the situation as soon as possible and swiftly resume normal operations," the company said in an emailed statement Tuesday. It didn't say by when exactly it expects to begin operations again.
Work at the Sokhna terminal was also briefly halted in September 2011 due to a similar labour dispute at the time. Port workers' demands include a profit share and risk allowance, according to local press reports.
DP World shares closed Tuesday up 0.9% at $11 on Nasdaq Dubai.
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
14-02-12 1126GMT
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