The GCC is set to become the new global shipping hub for the new trade routes between the east and the west, expert speakers at the sixth Seatrade Middle East Maritime said. Mohammed Al Muallem, senior vice-president and managing director, DP World, UAE region, said: “GCC growth forecasts are much healthier than for the rest of the world, thanks to our oil-based economies. Increased shipping business from the east is compensating for the losses coming from the more developed western markets. Cash reserves are healthy across the GCC nations; so any financial shocks can be absorbed.” From : Khalij