DP World reports strong volume growth of 9.4 per cent in 2021

In a Q4 2021, DP World handled 19.6 million TEU, up 2.6 per cent year-on-year on a reported basis and up 2.3 per cent on a like-for-like basis.

DP World Limited handled 77.9 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in full year 2021, with gross container volumes increasing by 9.4 per cent year-on-year on a reported basis and up 8.9 per cent on a like-for-like basis1. On a Q4 2021 basis, DP World handled 19.6 million TEU, up 2.6 per cent year-on-year on a reported basis and up 2.3 per cent on a like-for-like basis.

Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer, DP World, said: "We are delighted to report another strong volume performance with growth of 9.4 per cent for the year, which is once again ahead of industry growth of 6.5 per cent4. This outperformance is due to our continued investment in high quality assets in the right locations and the delivery of our strategy to offer integrated supply chain solutions to beneficial cargo owners. All our regions delivered volume growth with India being a key driver and encouragingly Jebel Ali (UAE) delivered a steady performance with 1.9 per cent growth in 2021."

2021 gross volume growth was broad based with India, Asia Pacific, Middle East & Africa, Europe, Australia and Americas regions being the key growth drivers. At an asset level, Qingdao (China), Mumbai, Mundra, Chennai (India), Sokhna (Egypt), London Gateway (UK), Caucedo (Dominican Republic), Callao (Peru), and Sydney (Australia) delivered a strong performance. Jebel Ali (UAE) handled 13.7 million TEU in 2021, up 1.9 per cent year-on-year.

At a consolidated level, terminals handled 45.4 million TEU during 2021, increasing 8.8 per cent on a reported basis and 8.1 per cent year-on-year on a like-for-like basis.

Sulayem said: "As expected, growth rates moderated in the final quarter of 2021 as the new covid variant, inflation and supply chain bottlenecks impacted global growth. However, looking ahead to 2022, we expect our portfolio to continue to deliver growth and, while the year has started encouragingly, we remain mindful that the Covid-19 pandemic, continued supply chain disruptions, rising inflation and geopolitical uncertainty could continue to hinder the global economic recovery." — Wam