DP World reports 1.1% gross like-for-like volume growth in 3Q 2019
DP World PLC handled 17.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 3Q2019, with gross container volumes growing by 1.1 % year-on-year on a like-for-like basis, the company said in its release.
On a nine-month basis, like-for-like gross container volumes grew by +0.7% year-on-a year to 53.5 million TEU. Jebel Ali (UAE) handled 3.6 million TEU in 3Q2019, down -1.0% year-on-year, as volumes stabilised following a shift of low-margin cargo. Growth in Asia and India remains robust with strong growth in ATI (Philippines), Qingdao (China). Growth in India has been driven by Cochin, Mundra and NSIGT (Mumbai).
Decline in reported volumes in Asia Pacific & Indian Subcontinent is due to discontinued operations in Surabaya (Indonesia) and Tianjin (China). At a consolidated level, DP World terminals handled 10.3 million TEU during 3Q 2019, a +0.8% improvement year-on-year on a like-for-like basis.
The strong reported growth of +93.7% in Americas and Australia region is due to the consolidation of Australia and acquisition of the two terminals in Chile.
About DP World
DP World is a leading enabler of global trade and an integral part of the supply chain. DP World has a portfolio of over 150 operations in over 45 countries across six continents, with a significant presence in both high-growth and mature markets. Container handling is the company’s core business and generates more than 50% of its revenue. In 2018, DP World handled 71.4 million TEU (twenty-foot equivalent units) across its portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 91 million TEU is expected to rise in line with market demand. By thinking ahead, foreseeing change and innovating, DP World aims to create the most productive, efficient and safe trade solutions globally.