“DP World Reports Growth in Container Handling Volume for Q1 2023 Amidst Economic Uncertainty – Integrated Supply Chain Solutions for Global Trade”

2023-04-27 12:30:01

DP World DP World Limited, a leading provider of integrated supply chain solutions that enable trade flows around the world, handled 19.5 million TEUs across its global portfolio of container terminals in the first quarter of 2023, an overall increase in Container handling volume is 1.4% year-on-year reported and up 3.7% on like-for-like basis.

Overall handling volume growth in the first quarter of 2023 was primarily driven by strong container terminal performance in Asia Pacific and India, which was partially offset by lower performance in Europe and the Americas. At Jebel Ali Port (UAE), 3.5 million TEUs were handled, up by 2.3% year-on-year.

On a consolidated level, container terminals handled 11.4 million TEUs, an increase of 0.7% year-on-year during the first quarter of 2023, and a decrease of 1.3% on a like-for-like basis.

Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World Group, said: “Our global business portfolio witnessed an encouraging start to this year, as we achieved growth in total handling volume during the first quarter of 2023 by 3.7%, to come once more ahead of average The market is expected to decline by 6.3%. The superior performance of our portfolio continues to highlight the strength of our business strategy in the right regions and countries to provide integrated supply chain solutions to cargo owners, thus enhancing the real value of stakeholders.”

Growth in the first quarter was mainly driven by strong performance in the Asia Pacific and India regions. However, as expected, growth in container volumes moderated in some regions such as Europe and the Americas due to uncertainty associated with economic conditions. Handling volumes at the strategic Jebel Ali port terminals also maintained their strength, growing by 2.3%.

Looking ahead, the near-term outlook remains somewhat uncertain given the geopolitical environment and pressures of high inflation and currency volatility, however we expect our portfolio to achieve

Stable performance in 2023, as our focus will remain on achieving returns through our recent acquisitions, while maintaining effective cost management and capital expenditure growth.

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