Bangladesh, Aug. 3 -- The port operator, DP World, recently struck a preliminary deal with the Fujairah Ports Authority to build the Al Rugaylat container and multi-purpose terminal along with the Dibba general cargo terminal, under a concession running 50 years.

Moody's noted in a research note that the new facilities would give free-zone tenants another way to import and re-export goods if the Strait of Hormuz were ever closed, while also opening a fresh entry point for construction materials and other essential cargo.

Two coastlines, one strategy

Geography is the key advantage. Jebel Ali sits within the Strait of Hormuz, whereas Fujairah lies on the Gulf of Oman with direct access to the Indian Ocean, giving the UAE a route that by...