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It is estimated that by 2030, a high-speed transportation system for goods and passengers will become a reality
A senior DP World official said that Hyperloop technology is rapidly taking shape and will be implemented as soon as possible.
In an interview with CNN, DP World Chairman and CEO Sultan Ahmed bin Sulayem said that by 2030, the high-speed transportation system for goods and passengers is expected to become a reality.
When replaying the question about the time scale of the Virgin Hyperloop, Bin Sulayem stated that the technology will be implemented soon.
“This is not decades, but years,” said Bin Sulayem, who is also the chairman of Virgin Hyperloop. When asked how long it would take the first passengers to take the Hyperloop.
In a conversation with CNN’s Becky Anderson, he said that this kind of high-speed transportation system is expected to become a reality by 2030.
“I hope. So I will see it in India first, or now in Saudi Arabia. Our hope is that when we achieve economies of scale and you have a longer route and it is popular, it may be because The speed of the plane, you will pay the price of a truck,” Bin Sulayem said.
DP World is a global logistics company in the UAE, responsible for transporting 10% of the world’s trade. It operates port networks and data-driven logistics operations around the world, including Dubai’s flagship port Jebel Ali.
The Dubai-based company will display a full-size Hyperloop cargo hold and a sectioned passenger compartment in the Flow Pavilion at Expo 2020. When visitors arrive at the exhibition hall, they will see a full-scale replica of a commercial cargo hold, which measures approximately 10 meters in length. After entering the exhibition hall, guests will be able to sit in a sectioned passenger cabin with production intent and see what the future Hyperloop journey will look like.
Josh Giegel, CEO and co-founder of Virgin Hyperloop, said: “I hope tourists can imagine that in the near future, they will be passengers of commercial hyperloop systems in the Gulf and other regions.”
Supply chain disruption
The chairman of DP World also discussed how the pandemic affects global supply chains.
“Today you are lucky to find an empty container. Today, a container from the West Coast of the United States to China or the Far East starts at $7,000 and is now $30,000. These are unheard of costs, but people need products and supply chains to meet it. People now have to decide that we really need to make everything in the Far East. Is this logical? I believe the pandemic has taught us something and also gave us opportunities.”
Sino-U.S. trade war
Ben Sulayem also talked about the tensions in US-China relations, emphasizing that his company is a cooperative partner of the two countries.
“For a long time, China has actually been our main trading partner. The United States is also an important trading partner and ally. Today, I believe that the cold war between the United States and China is not as intense as it was during the Trump administration. We are both Friends. We are businessmen, we are not politicians.”
Regarding the damage caused by the pandemic to the industry, he said that it will take time to return to normal practices.
“We dealt with it in the short term, and in the long term it will stay with us for a while. Look at China, China is blocked. Every time an incident occurs, the entire port is blocked for Covid cases. This will continue for a while,” he said.
— Muzaffarrizvi@khaleejtimes.com
Muzaffar Rizvi
The business editor/news editor of Khaleej Times is a well-connected reporter and economic and financial commentator. Since 1997, he has been engaged in mainstream journalism, covering the UAE’s economy and key sectors. He holds a graduate degree in economics and has won many awards for his true and insightful reports on global and regional business and economic trends.
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