Type to search

News Logistics News

DP World Reports Ahead Of Market Volume Growth

DP World Limited handled 79.0 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the full year 2022, with gross container volumes increasing by 1.4% year-on-year on a reported basis and up 2.8% on a like-for-like basis. On a 4Q2022 basis, DP World handled 19.5 million TEU, up 2.4% on a like-for-like basis.

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. 

Jebel Ali (UAE) handled 14.0 million TEU in 2022, up 1.7% year-on-year.

At a consolidated level, our terminals handled 46.1 million TEU during 2022, increasing 1.5% on a reported basis and up 0.7% year-on-year on a like-for-like basis.

Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer,commented, “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 the industry’s forecast a marginal decline of -0.5%. This outperformance demonstrates that we are in suitable locations and that our strategy to offer integrated supply chain solutions to beneficial cargo owners bears fruit.

“Asia Pacific, Americas and Australia region drove growth. Encouragingly, Jebel Ali’s (UAE) high-margin origin & destination cargo grew by 8.6%, 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 grow, but the outlook remains uncertain due to rising inflation, higher interest rates and geopolitical uncertainty.

“Overall, we are pleased with the business performance in 2022 and remain focused on growing profitability while managing growth capex. The solid volume performance leaves us well placed to deliver improved full-year results.”