Dubai-based DP World on Monday said it handled 19.1 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the fourth quarter of 2020, with gross container volumes increasing by 6.5 percent year-on-year on a like-for-like basis.
For the full year, DP World handled 71.2 million TEU, up 0.2 percent on a like-for-like basis despite the impact of the coronavirus pandemic.
The company said gross volume growth was mainly driven by India, Europe, Middle East & Africa and Americas with a strong performance from Mundra (India) London Gateway (UK), Rotterdam (Netherlands), Antwerp Gateway (Belgium) and Sokhna (Egypt).
In Americas, growth was driven by DP World Santos (Brazil) and Vancouver (Canada) while Jebel Ali in Dubai handled 3.4 million TEU in Q4, up 0.3 percent year-on-year.
Group chairman and CEO Sultan Ahmed Bin Sulayem (pictured below) said: “We are delighted to report another set of positive volume figures for Q4… This strong end to the year resulted in flat growth in 2020 which compares favourably against an industry that is estimated to be down 2.1 percent.
“Overall, this once again illustrates the resilience of the global container industry, and DP World’s continued ability to outperform the market.”
He added: “The growth in volumes was encouragingly across all our regions with India being a key driver, while our flagship port of Jebel Ali saw volumes stabilising.
“We continue to invest selectively in projects that offer compelling value such as Dakar (Senegal) and Luanda (Angola). Our strategy to provide solutions to cargo owners has served us well, and our aim is to continue to build on this momentum.”
Sulayem said that while 2021 has started encouragingly, the outlook remains uncertain given the continued issues surrounding the pandemic, geopolitical uncertainty in some parts of the world and the ongoing trade war.
“Overall, the full year solid volume performance leaves us well placed to deliver a relatively stable financial performance in 2020. We remain focused on containing costs to protect profitability, managing growth capex to preserve cashflow and are confident of meeting our 2022 targets,” he said.
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