Dubai’s DP World Records 2.5% Like-for-Like Volume Growth

During the initial nine months of 2022, DP World Limited managed a cumulative total of 59.6 million TEU (twenty-foot equivalent units) across its container terminals worldwide. Comparatively, gross container volumes exhibited a 2.0% year-on-year increase as per reported figures, while on a like-for-like basis, the growth reached 2.5%.

Quarterly data indicates DP World’s handling of 20.1 million TEU, marking a 1.5% year-on-year rise and a 2.1% growth on a like-for-like basis.

The surge in gross volume during the third quarter was chiefly propelled by the robust performance of DP World’s terminals in the Asia Pacific, Middle East & Africa, Americas, and Australia regions. Key contributions came from various terminals including Qingdao (China), ATI (Philippines), LCIT (Thailand), Jeddah (Saudi Arabia), Vancouver (Canada), Posorja (Ecuador), Santos (Brazil), and Australia. Moreover, Jebel Ali (UAE) saw a 2.0% year-on-year increase, handling 3.5 million TEU in 3Q2022.

On a consolidated scale, DP World’s terminals collectively managed 34.6 million TEU during the initial nine months of 2022, showcasing a 1.9% year-on-year growth and a 1.4% increase on a like-for-like basis. Regarding quarterly consolidation, the company handled 11.7 million TEU, indicating a 2.7% growth on a reported basis and a 1.5% year-on-year increase on a like-for-like basis.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, expressed contentment with the robust performance, citing the 2.5% volume growth over nine months, surpassing the industry average of 1.1%. While acknowledging the growth rate deceleration due to challenging market conditions, he highlighted the resilience of global trade and DP World’s portfolio’s anticipated market outperformance.

Bin Sulayem attributed the third-quarter growth to the stellar performance of terminals in the Asia Pacific, Americas, and Australia regions. Notably, Jebel Ali (UAE) exhibited a robust volume growth of 2.0% year-on-year.

Despite acknowledging uncertainties such as geopolitical dynamics, inflationary pressures, and currency fluctuations, Bin Sulayem expressed optimism about the medium to long-term outlook for global trade. He concluded by stating that, based on the solid volume performance in the initial nine months, DP World anticipates delivering improved full-year results.