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DP World sees double digit growth in containers in Q2 2021

DP World sees double digit growth in containers in Q2 2021
Sultan Ahmed bin Sulayem, CEO of DP World

DP World handled 19.7m teu across its global portfolio of container terminals in the second quarter of 2021, with gross container volumes increasing 18% year-on-year on a reported basis.

On a like-for-like basis, container volumes grew 17% as all regions delivered a strong performance – especially the operator’s terminals in India, Europe, Australia, and Americas.

Sultan Ahmed Bin Sulayem, group chairman and chief executive officer, said: “We are delighted to report another strong volume performance with 2Q2021 growth accelerating up to 17% year-on-year, and up 7% compared to 2Q2019, which highlights the strength of the underlying market.

“Growth continued to be broad based with all our regions delivering a robust performance, with India being exceptionally strong. Encouragingly, the recent volume improvement for our flagshit port of Jebel Ali continued into 2Q2021 with throughput growth accelerating 4% year-on-year.”

At a consolidated level, DP World’s terminals handled 11.4m teu in the 2Q2021, increasing 18% on a reported basis and up 17% on a like for like basis.

On a gross basis for the first half of the year, DP World handled 38.6m teu with gross container volumes increasing by 14% year-on-year on a reported basis and 13% on a like-for-like basis.

“Looking ahead, the near-term outlook remains positive, but we do expect growth rates to moderate in the second half of 2021,” Bin Sulayem said. “Furthermore, we remain mindful that the COVID-19 pandemic and geopolitical uncertainty could once again disrupt the global economic recovery.”

Overall, DP World has continued to make good progress on its strategy to deliver supply chain solutions to beneficial cargo owners and is focused on growing profitability while managing growth capex.