DP World gross container volumes increase by 2 per cent year-on-year

DP World Limited handled 59.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 9M2022, with gross container volumes increasing by 2.0 per cent year-on-year on a reported basis and up 2.5 per cent on a like-for-like basis.

On a 3Q2022 basis, DP World handled 20.1 million twenty-foot equivalent units, up 1.5% year-on-year and up 2.1 per cent on a like-for-like basis.

3Q2022 gross volume growth was mainly driven by Asia Pacific, Middle East & Africa, Americas, and Australia with a strong performance from Qingdao (China), ATI (Philippines), LCIT (Thailand), Jeddah (Saudi Arabia), Vancouver (Canada), Posorja (Ecuador), Santos (Brazil), and Australia. Jebel Ali (UAE) handled 3.5 million TEU in 3Q2022, up 2.0 per cent year-on-year.

At a consolidated level, our terminals handled 34.6 million TEU, up 1.9 per cent year-on-year and up 1.4 per cent on a like-for-like-basis in 9M2022. On a 3Q2022 consolidated level, we handled 11.7 million TEU, increasing 2.7 per cent on a reported basis and 1.5 per cent year-on-year on a like-for-like basis.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, commented, “We report another robust set of throughput figures with nine-month volume growth of 2.5 per cent, which is once again ahead of industry growth of 1.1 per cent.

As expected, growth rates have decelerated due to the more challenging market conditions, but global trade continues to remain resilient, and our portfolio is expected to continue to outperform the market.

“Growth in the third quarter was primarily driven by a solid performance across our Asia Pacific, Americas and Australia terminals. Encouragingly, our flagship port of Jebel Ali (UAE) continues to deliver robust volumes with growth of 2.0 per cent year-on-year.

“Looking ahead, the near-term outlook remains uncertain given the geopolitical environment, inflationary pressures and currency fluctuations but we remain positive on the medium to long term outlook for global trade. Overall, given the solid nine-month volume performance, we expect to deliver an improved set of full year results.”

Meanwhile Dubai Integrated Economic Zones Authority (DIEZ), announced a collaboration with DP World to support the Tumoohi Initiative.

This falls in line with its ongoing commitment to empowering young Emirati competencies and preparing the next generation of leaders in the logistics and trade sectors.

Tumoohi is a recognised training programme initiative by DP World, designed to boost the careers of the young and talented Emiratis by helping them develop essential skills and expertise to excel and have an edge in today’s highly competitive job market.

By providing unique training programmes and hands-on workplace experience at a number of the world’s leading multinational companies, Tumoohi enables trainees to develop a network of professional relationships with industry leaders, in addition to identifying and showcase their competencies with employers looking for specialised talents.

WAM