The expansion of DP World’s Jebel Ali Port has been delayed due to “softer market conditions”, reported Reuters.

The expansion, which was expected to include 1.5 million 20-foot equivalent units (TEU) to Terminal 3’s annual capacity, will be pushed to 2017. There will also be a slowdown in expansion the of Terminal 4.

The company previously announced that it will invest $1.6 billion in Terminal 4, which is expected to be completed by 2018. Jebel Ali receives shipments not only for the UAE but for the region as well, according to Trade Arabia.

The global trade environment remains a challenge to growth at Jebel Ali due to the slowdown in oil prices, the company stated, adding that it handled 7.4 million TEUs of cargo in the UAE during the first half of 2016, marking a 6% decline from a year ago.

DP World nonetheless recorded a 50% increase in net profit, registering $608 million, aided by the acquisitions of Dubai’s Jebel Ali Free Zone and Canada’s Fairview Terminal.