Dubai’s DP World reports 10% volume growth in Q1 2021
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Dubai’s DP World reports 10% volume growth in Q1 2021

Dubai’s DP World reports 10% volume growth in Q1 2021

DP World Limited handled 18.9 million TEU across its global portfolio of container terminals in the first quarter of this year

DP World

Dubai-headquartered global port operator DP World Limited handled 18.9 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2021, with gross container volumes increasing by 10.2 per cent year-on-year on a reported basis and up 9.6 percent on a like-for-like basis.

The first quarter saw growth in all three regions, especially its terminals in India and Australia. DP World said that the stabilization in Jebel Ali continue with the terminal handling 3.5 million TEU in Q1 2021, up 2.6 per cent year-on-year.

At a consolidated level, its terminals handled 11.2 million TEU during the first quarter of 2021, increasing 8.2 per cent on a reported basis and up 7 per cent year-on-year on a like-for-like basis, reported news agency WAM.

Group chairman and CEO Sultan Ahmed Bin Sulayem, said: “We are delighted with the strong start to 2021 with our portfolio delivering 10.2 per cent volume growth in Q1 21, which is once-again ahead of industry estimated growth of 8.9 per cent. This performance is ahead of expectations and illustrates the resilience of the global container industry, and DP World’s continued ability to outperform the market.”

“Trade volume growth has accelerated and our strategy of providing integrated supply chain solutions to beneficial cargo owners has allowed us to benefit from this recovery. Looking ahead, while the near-term trading environment is positive, we remain mindful that the economic recovery can be disrupted by the Covid-19 pandemic, geopolitical uncertainty in some parts of the world and on-going trade war.”

DP World handled 19.1 million TEU across its global portfolio of container terminals in Q4 2020. As a result, its gross container volumes increased by 7.6 per cent year-on-year on a reported basis and up 6.5 per cent on a like-for-like basis.

Read: DP World reports 7.6% gross volume growth in Q4 2020

For the fiscal year (FY) 2020, DP World handled 71.2 million TEU, flat year-on-year and up 0.2 percent on a like-for-like basis.

DP World also partnered with Caisse de dépôt et placement du Québec (CDPQ) investment group last month to sign a $1.2bn agreement with Indonesia’s Maspion Group to construct an international container port and industrial logistics park in Gresik in Indonesia.

Read: Dubai’s DP World inks $1.2bn agreement to build port and logistics park in Indonesia’s Gresik

A joint venture company called DP World Maspion East Java will be established between DP World, CDPQ and Maspion Group, the first of its kind in the Indonesian transportation sector involving a foreign direct investor and a private sector Indonesian company.

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