PHOTO
AD Ports Group said on Wednesday it expects higher volumes across its diversified global maritime network as shifting trade routes divert vessels away from the Strait of Hormuz, where traffic has been disrupted amid the escalation of the US‑Israel/Iran conflict.
The Abu Dhabi based operator of industrial cities and free zones said that as traffic through the strait declines, vessel calls at Khalifa Port may also see a corresponding drop, even though services there remain fully operational.
AD Ports, listed on the Abu Dhabi Securities Exchange, said while the majority of its 122 shipping vessels operating outside the Strait of Hormuz, those currently within the strait will continue to operate intra-Gulf services.
The Strait of Hormuz, which handles roughly 30% of seaborne crude flows, has been effectively blocked by Iran, which issued warnings to vessels not to proceed through the chokepoint.
Writing by Brinda Darasha; editing by Seban Scaria)
