DP World reports 11.9% growth in September 2021

DP World

In its September 2021 report, DP World has revealed it experienced a 11.9% growth, handling a total of 58.4 million TEU year-to-date across its global portfolio of container terminals, pushing year-on-year volumes to increase by 11.4%.

In Q3 2021, DP World handled 19.8 million TEU, a rise of 8.1% year-on-year. This volume growth was mainly driven by Asia Pacific, India, the Middle East and Africa and Australia, specifically citing strong performances from Qingdao (China), Mumbai (India) and Sokhna (Egypt).

At a consolidated level, it handled 11.4 million TEU through Q3 2021, increasing 7.2% on a year-on-year basis.

“We are delighted to report another strong quarter for DP World with a throughput growth of 8.1%, which is once again ahead of the industry growth of 6.4%,” said Sultan Ahmed Bin Sulayem, Chief Executive Officer and Group Chairman of DP World. “This strong performance illustrates the resilience of the global container industry, and DP World’s continued ability to outperform the market.

“Encouragingly, all our regions continue to deliver volume growth with India being a key driver, and we continue to make solid progress on our strategy to deliver supply chain solutions to beneficial cargo owners.

“The near-term outlook remains positive, but we do expect growth rates to moderate in the final quarter. Furthermore, we remain mindful that the COVID-19 pandemic, continued supply chain disruptions, and geographical uncertainty could continue to hinder global economic recovery.

“Overall, we are pleased with the year-to-date performance and remain focused on growing profitability while managing growth CAPEX. The strong nine-month volumes leave us well placed to deliver an improved set of full-year results and we remain focused on delivering our 2022 targets.”

DP World has also recently launched CARGOES Finance – a new financing solution and fintech platform providing access to finance to support small-to-medium sized businesses. Announced in October 2021, the platform provides exporters, importers, and logistics companies with access to financing solutions, supporting them in global expansion.

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