Business, Freight News, Sea

DP World reports strong volume growth

[ February 18, 2022   //   ]

DP World Limited handled 77.9 million TEUs across its global portfolio of container terminals in full year 2021, with gross container volumes increasing by 9.4% year-on-year on a reported basis and up 8.9% on a like-for-like basis.
On a 4Q2021 basis, DP World handled 19.6 million TEU, up 2.6% year-on-year on a reported basis and up 2.3% on a like-for-like basis. 2021 gross volume growth was broad based with India, Asia Pacific, Middle East & Africa, Europe, Australia and Americas regions being the key growth drivers.
At an asset level, Qingdao (China), Mumbai, Mundra, Chennai (India), Sokhna (Egypt), London Gateway (UK), Caucedo (Dominican Republic), Callao (Peru), and Sydney (Australia) delivered a strong performance.
Jebel Ali (UAE) handled 13.7 million TEU in 2021, up 1.9% year-on-year.
At a consolidated level, its terminals handled 45.4 million TEU during 2021, increasing 8.8% on a reported basis and 8.1% year-on-year on a like-for-like basis.
“We are delighted to report another strong volume performance with growth of 9.4% for the year, which is once again ahead of industry growth of 6.5%,” said Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem. “This outperformance is due to our continued investment in high quality assets in the right locations and the delivery of our strategy to offer integrated supply chain solutions to beneficial cargo owners.”
India was the key driver for volume growth among all regions served. This resulted in Jebel Ali delivering a steady performance with 1.9% growth in 2021.
“As expected, growth rates moderated in the final quarter of 2021 as the new covid variant, inflation and supply chain bottlenecks impacted global growth,” said Sulayem. “However, looking ahead to 2022, we expect our portfolio to continue to deliver growth and, while the year has started encouragingly, we remain mindful that the Covid-19 pandemic, continued supply chain disruptions, rising inflation and geopolitical uncertainty could continue to hinder the global economic recovery.”