DP World sees 2.9% rise YoY in gross container volumes in Q2 2002

DP World has reported it handled 20.2 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the second quarter of 2022, with gross container volumes increasing 2.9 per cent on a year-on-year (YoY) on a reported basis and 3.5 per cent on a like-for-like basis.

Volume growth in Q2 2022 was driven by terminals in Asia Pacific, Americas and Australia. Jebel Ali (UAE) handled 3.6 million TEU in Q2 2022, up 3.5 per cent year-on-year. On an H1 2022 gross basis, DP World handled 39.5 million TEU, with gross container volumes increasing by 2.3 per cent YoY on a reported basis and 2.7 per cent on a like-for-like basis.

At a consolidated level, our terminals handled 11.6 million TEU in Q2 2022, up 1.8 per cent both on a reported and on a like-for-like basis. On an H1 2022 consolidated level, we handled 22.9 million TEU, with container volumes increasing by 1.6 per cent YoY on a reported basis and 1.4 per cent on a like-for-like basis.

Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: “We report another solid set of throughput figures with second quarter volume growth of 3.5 per cent, which is once again ahead of industry growth of 2.6 per cent. This robust performance illustrates the resilience of the global container industry, and DP World’s continued ability to outperform the market.

“Growth was driven by a strong performance across our Asia Pacific, Americas, and Australia terminals. Our flagship port of Jebel Ali (UAE) also delivered an improved performance with throughput growth of 3.5 per cent year-on-year.

“Looking ahead, the near-term outlook is uncertain given the geopolitical environment, inflationary pressures, and continued impact of the pandemic, but we remain positive on the medium to long-term outlook for global trade. Overall, given the solid start to the year, we expect to deliver improved full performance.”

In other news, Imperial, owned by DP World, announced a strategic acquisition of a controlling stake in Africa FMCG Distribution.

The move aligns with Dubai’s five-year plan to expand the emirate’s trade partnerships with promising global markets

Read: DP World’s Imperial acquires stake in AFMCG Distribution in Nigeria