Friday 3 December 2021

DP World container volume growth surges 8.1% in Q3

DUBAI, October 26, 2021

DP World handled 19.8 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the third quarter of 2021, with gross container volumes increasing 8.1% year-on-year and up 7.9% on a like-for-like basis.

At a consolidated level, its terminals handled 11.4 million TEU during Q3 2021, increasing 7.6% on a reported basis and 7.2% year-on-year on a like-for-like basis.

During the first nine months of 2021, the company handled 58.4 million TEUs in with gross container volumes increasing by 11.9% year-on-year on a reported basis and up 11.4% on a like-for-like basis.

Q3 2021 gross volume growth was mainly driven by Asia Pacific, India, Middle East &Africa and Australia with a strong performance from Qingdao (China), Mumbai (India) and Sokhna (Egypt). Jebel Ali (UAE) handled 3.4 million TEU in 3Q2021, up 0.6% year-on-year.

Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented: “We are delighted to report another strong quarter for DP World with throughput growth of 8.1%, which is once again ahead of industry growth of 6.4%. This strong performance illustrates the resilience of the global container industry, and DP World’s continued ability to outperform the market.”

“Encouragingly, all our regions continue to deliver volume growth with India being a key driver, and we continue to make solid progress on our strategy to deliver supply chain solutions to beneficial cargo owners.

“The near-term outlook remains positive, but we do expect growth rates to moderate in the final quarter. Furthermore, we remain mindful that the Covid-19 pandemic, continued supply chain disruptions and geopolitical uncertainty could continue to hinder global economic recovery.

“Overall, we are pleased with the year-to-date performance and remain focused on growing profitability while managing growth capex. The strong nine-month volumes leave us well placed to deliver an improved set of full year results and we remain focused on delivering our 2022 targets,” he concluded. – TradeArabia News Service


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