DP World has announced plans to add around 3 million TEU of new container handling capacity by the end of the year.
The company currently manages approximately 9 per cent of the world’s handling capacity, putting it among the top five global port operators.
The expansions will take its total gross capacity to 93.6 million TEU, helping meet growing demand in key trade markets.
Key expansions will be completed this year in Caucedo, Dominican Republic, including an additional 1.2 million TEU, Yarimca, Turkey projected an additional 579,000 TEU, Sokhna, Egypt adding 500,000 TEU, Jeddah, Saudi Arabia with an additional 200,000 TEU – among other key markets.
READ: DP World moves almost 80 million TEU in 2022
Drewry, a supply chain consulting firm, predicts that worldwide container traffic would increase to 932 million TEU by 2025, up from 858 million TEU in 2021.
The company’s capacity growth ambitions come at an important moment, with inflation, rising living costs, and geopolitical uncertainty raising concerns about global commerce and driving demand for speedier, more robust supply chain solutions.
According to DP World’s latest Trade in Transition 2023 research, firms are still emphasising development through market expansion, identifying increased demand and expansion of operations into new countries as the major drivers of export growth in 2023.
According to the survey, the usage of technology is the primary reason executives remain positive about global commerce.
READ: DP World nears 20 million TEU in Q1 2023
Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said: “We are committed to investing in our infrastructure to meet the growing demand for trade.
“These capacity additions will further strengthen our position as a leading global supply chain solutions provider connecting economies, businesses and consumers around the world.”
Tiemen Meester, Chief Operating Officer Ports and Terminals, DP World, stated: “We have to take a longer-term view of global economics, looking at how demand will change and how we can meet it in the most efficient way. Our medium-term target is to reach 100 million TEU a year, subject to demand.”
Along with physical expansion, the projects will focus on digitalisation, which will include the implementation of new technology and modern Terminal Operating Systems (TOS).
The TOS aims to increase capacity by automating and streamlining operations within each port, allowing for greater trade flow and more efficient processes for customers.
DP World intends to dramatically increase its handling capacity within the same physical space by adopting automated equipment and better methods of working.
Furthermore, automated equipment driven by electricity replaces fossil-fuelled equipment, significantly reducing CO2 emissions for DP World and its clients.
In June 2023, DP World announced that it will begin operations to expand Indonesian Belawan New Container Terminal (BNCT)’s overall capacity.
