DP World increases container volume by 11.9%

During the third quarter 2021, DP World handled 19.8m teu, up 8.1% year-on-year and up 7.9% on a like-for-like basis.

3Q2021 gross volume growth was mainly driven by Asia Pacific, India, Middle East & Africa and Australia with a strong performance from Qingdao (China), Mumbai (India) and Sokhna (Egypt). Jebel Ali (UAE) handled 3.4m teu in 3Q2021, up 0.6% year-on-year.

At a consolidated level, our terminals handled 11.4m teu during 3Q2021, increasing 7.6% on a reported basis and 7.2% year-on-year on a like-for-like basis.

“We are delighted to report another strong quarter for DP World with throughput growth of 8.1%, which is once again ahead of industry growth of 6.4%. 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 CEO Sultan Ahmed Bin Sulayem.

“Encouragingly, all our regions continue to deliver volume growth with India being a key driver, and we continue to make solid progress on our strategy to deliver supply chain solutions to beneficial cargo owners,” he added.

We do expect growth rates to moderate in the final quarter

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. Overall, we are pleased with the year-to-date performance and remain focused on growing profitability while managing growth capex.

We remain focused on delivering our 2022 targets