DP World nears 20 million TEU in Q1 2023

DP World Limited has handled 19.5 million TEU across its global portfolio of container terminals in the first quarter of 2023.

Gross container volumes increased by 1.4 per cent year-on-year on a reported basis and up 3.7 per cent on a like-for-like basis.

The growth was driven by a strong performance in Asia Pacific and India, despite being partially offset by softer performance in Europe and the Americas, according to the company.

The Port of Jebel Ali handled 3.5 million TEU in Q12023, reflecting a year-on-year increase by 2.3 per cent.

At a consolidated level, DP World terminals handled 11.4 million TEU during the first quarter of 2023, up 0.7 per cent year-on-year on a reported basis but down 1.3 per cent on a like-for-like basis.

Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer of DP World, commented: “Our portfolio has had an encouraging start to the year with container volume growth of 3.7 per cent, once again ahead of the market, which is estimated to be down by 6.3 per cent.

“This outperformance continues to demonstrate that we are in the right locations, and our strategy to offer integrated supply chain solutions to beneficial cargo owners is driving value for our stakeholders.

“A strong performance in Asia Pacific and India drove our growth. However, as anticipated, volume growth has softened in some regions, such as Europe and the Americas, due to uncertain economic conditions,” Sulayem added.

This report comes less than two weeks after DP World announced that it had set a new container handling record at the Port of Dakar, handling 76,282 TEU in March 2023.