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DP World reports 19.5 million TEUs in 2023 first quarter

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DUBAI : DP World handled 19.5 million TEUs across its global portfolio of container terminals in the first quarter of 2023, with gross container volumes increasing by 1.4% year-on-year.

The UAE-based port and terminal operator said the growth was driven by a strong performance in Asia Pacific and India, which was partially offset by softer performance in Europe and the Americas.

DP World’s flagship terminal in Jebel Ali, UAE handled 3.5 million TEUs in the first three months of the year, representing a year-on-year growth of 2.3%.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, commented, “Our portfolio has had an encouraging start to the year with container volume growth of 3.7%, once again ahead of the market, which is estimated to be down by 6.3%. 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 driving value for our stakeholders.”

He went on to add, “The near-term outlook remains somewhat uncertain, given the geopolitical backdrop, high inflation and currency fluctuations. However, we expect our portfolio to deliver stable performance in 2023 as we remain focused on driving revenue synergies from our recent acquisitions while managing costs and growth capex.”

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