On Monday, D.P. World, the world’s largest port, reported a 9.4% increase in 2021 container volumes. However, growth rates slowed in the fourth quarter, as expected, owing to the impact of COVID-19, inflation, and supply chain challenges, according to the Dubai state enterprise.
D.P. World reported it managed 77.9 million shipping containers across its portfolio, including a double-digit increase in the Asia Pacific & India, and Americas & Australia.
Chairman Sultan Ahmed bin Sulayem stated that the first half of 2022 had been promising and that D.P. World intended the portfolio to continue to grow.
The pandemic, persistent global supply chain disruptions, rising prices, and geopolitical instability could stymie global recovery.
Following Monday’s finish, Australian stocks were weaker. The S&P/ASX 200 index lost 0.13 percent at the Sydney closing. The S&P/ASX 200 VIX, which measures implied volatility of S&P/ASX 200 options, increased 5.65% to 15.520.
Gold futures for April delivery rose 3.95 percent to $1811.75 a troy ounce, up 0.22 percent. Crude oil for March delivery declined 0.73 percent, or 0.67, to $91.64 a barrel, while Brent oil for April delivery fell 0.25 percent, or 0.23, to $93.04 a barrel.
The AUD/USD increased 0.30 percent to 0.7097, while the AUD/JPY rose 0.36 percent to 81.81. The U.S. Dollar Index Futures were trading at 95.528, up 0.05 percent.
After the turbulence created last week by a good U.S. jobs report and the European Central Bank’s hawkish tilt, European stock indexes crept higher Monday in quiet trade.
By 09:00 GMT, the DAX in Germany was up 0.4 percent, the CAC 40 in France was up 0.3 percent, and the FTSE 100 in the United Kingdom was up 0.4 percent.
Oil prices have increased this year as the world economy recovers from the Covid epidemic, but supply has been unable to keep up with rising demand, putting $100 per barrel within sight.