India key driver as DP World reports 12% volume growth for 9M CY2021

October 26, 2021: DP World handled 58.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 9M2021, with gross container volumes increasing by 11.9 percent year-on-year on a reported basis and up 11.4 percent on a like-for-like basis.

On a 3Q2021 basis, DP World handled 19.8 million TEU, up 8.1 percent year-on-year and up 7.9 percent 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 3.4 million TEU in 3Q2021, up 0.6 percent year-on-year.

At a consolidated level, terminals handled 11.4 million TEU during 3Q2021, increasing 7.6 percent on a reported basis and 7.2 percent year-on-year on a like-for-like basis.

DP World group chairman and chief executive officer Sultan Ahmed Bin Sulayem said, “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.”

“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,” he added.