Gross container volumes across DP World’s global portfolio recorded an 8.1 percent year-on-year increase in the third quarter (Q3) of the year, compared to industry growth levels of 6.4 percent.
“This strong performance illustrates the resilience of the global container industry, and DP World’s continued ability to outperform the market,” said group chairman and chief executive officer Sultan Ahmed Bin Sulayem in an official statement.
The Dubai-based ports operator handled 19.8 million twenty-foot equivalent units (TEU) in what was stated to be a “strong quarter” with terminals in India leading the growth. DP World’s Jebel Ali terminal handled 3.4 million TEU in Q3, up 0.6 percent year-on-year.
For the first nine months of 2021, gross volumes increased by 11.4 percent on a like-for-like basis, during which time the company handled 58.4 million twenty-foot equivalent units (TEU).
“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,” said Bin Sulayem (pictured above).
At a consolidated level, DP World’s terminals handled 11.4 million TEU during Q3 2021, witnessing a 7.2 percent year-on-year increase.
“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,” said Bin Sulayem.
“Overall, we are pleased with the year-to-date performance and remain focused on growing profitability while managing growth capex.”
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