DP World handled 71m teu in 2019

DP World handled 71m teu in 2019
Sultan Ahmed bin Sulayem, CEO of DP World

DP World handled 71.2m teu across its global portfolio of container terminals in 2019, with gross container volumes flat year-on-year on a reported basis.

On a like-for-like basis, which does not include volumes from Paita (Peru), Doraleh (Djibouti), Puerto Central, Puerto Lirquen (Chile), Posorja, Surabaya (Indonesia) and Tianjin, volumes were up 1%.

Group chairman and chief executive officer Sultan Ahmed Bin Sulayem said: “2019 has been a challenging year with the trade war between China and US and regional geopolitics causing uncertainty in the market. Despite this, our portfolio has delivered growth which once again demonstrates the resilience of our business.”

At a consolidated level, DP World’s terminals handled 39.9m teu in 2019, an 8.6% improvement in performance on a reported basis and down 0.5% year-on-year on a like-for-like basis.

The company saw robust growth across Asia and Africa as gross volumes reached 31.7m teu, driven by Pusan in South Korea, Qingdao in China, Manila in the Philippines and Jeddah in Saudi Arabia.

In Europe, DP World saw a continued ramp-up in London Gateway in the UK and Yarimca in Turkey while Canada’s Prince Rupert and Callao in Peru continued to deliver strong growth.

Gross volumes for Europe, Middle East and Africa (including Jebel Ali) fell by 2.1% in 2019 compared to 2018’s 30.6m teu.

Volumes were down in the UAE due to the loss of low-margin throughput although DP World remains focused on high margin cargo and maintaining profitability.

Bin Sulayem added: “In 2019, we have focused on delivering an integrated supply chain solutions product that allows us to connect directly with end customers. We are seeing positive signs of progress in our new businesses that give us encouragement for the future.

“The near-term focus is on integrating our recent acquisitions, managing costs and disciplined investment to cement DP World’s position as the logistics partner of choice. Overall, we remain well placed to deliver full year market expectations.”