Indian Transport & Logistics

DP World handles 79mn TEUs in 2022

Jebel Ali handled 14mn TEUs in 2022, up 1.7% year-on-year; On Q42022 basis, DP World handled 19.5mn TEUs, up 2.4%

DP World handles 79mn TEUs in 2022

DP World handled 79 million TEUs across its global portfolio of container terminals in 2022 with gross container volumes increasing by 1.4 percent year-on-year on a reported basis and up 2.8 percent on a like-for-like basis.

"On Q42022 basis, DP World handled 19.5 million TEUs, up 2.4 percent on a like-for-like basis," says an official release.

Jebel Ali (UAE) handled 14 million TEUs in 2022, up 1.7 percent year-on-year, the release added. "2022 gross volume growth was broad based with Asia Pacific, Middle East & Africa, Australia, and Americas regions all delivering like-for-like growth. At an asset level, Jebel Ali (UAE), Jeddah (Saudi Arabia), Angola (Angola), Sokhna (Egypt), London Gateway (UK), Constanta (Romania), Caucedo (Dominican Republic), Posorja (Ecuador), DP World Santos (Brazil) and all our ports in Australia (Brisbane, Sydney, Fremantle and Melbourne) delivered a solid performance."

At a consolidated level, DP World terminals handled 46.1 million TEUs during 2022, increasing 1.5 percent on a reported basis and up 0.7 percent year-on-year on a like-for-like basis, the release said.

“We are delighted to report another solid volume performance with like-for-like growth of 2.8% in 2022, which is once again ahead of industry forecast of a marginal decline of -0.5%," says Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer, DP World. "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 bearing fruit.

“Growth was driven by the Asia Pacific, Americas and Australia region. Encouragingly, Jebel Ali’s (UAE) high margin origin & destination cargo grew by 8.6 percent with overall volume growth steady at 1.7% for the year. As expected, growth rates moderated in the final quarter of 2022 due to the more challenging economic environment. Looking ahead to 2023, we expect our portfolio to continue to deliver growth but the outlook remains somewhat uncertain due to rising inflation, higher interest rates and geopolitical uncertainty."

The solid volume performance leaves us well placed to deliver an improved set of full year results, Sulayem added.

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