DP World volumes down 3.9% in 1H2020
DP World Limited handled 33.9 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first half of 2020, with gross container volumes decreasing by 5.3% year-on-year on a reported basis and down 3.9% on a like-for-like basis, the company said in its release.
At a consolidated level, DP World terminals handled 20 million TEU during the first half of 2020, increasing 2.4% on a reported basis and down 5.4% year-on-year on a like-for-like basis. Reported consolidated volume in the Americas and Australia region was boosted by the consolidation of Australia, Caucedo (Dominican Republic), acquisition of container terminals in Chile and commencement of operations in Posorja (Ecuador).
Jebel Ali (UAE) handled 6.7 million TEU in 1H2020, down 6.8%% year-on-year, due to Covid-19 and loss of lower-margin cargo.
Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented:
Like most industries, the maritime and logistics sector is going through an unprecedented and challenging period due to the COVID-19 outbreak. As a result, our portfolio has seen volumes weaken by -7.9% in 2Q2020 and -3.9% in 1H2020. However, this compares favourably against an estimated industry decline of -15% in 2Q2020 and -10% in 1H2020. This outperformance once again demonstrates that we are in the right locations and a focus on origin and destination cargo will continue to deliver the right balance between growth and resilience.
About DP World
DP World delivers services through an interconnected global network of 123 business units in 54 countries across seven continents, with a significant presence both in high-growth and mature markets.