DP World has said gross volumes across its portfolio of container terminals was ‘flat’ on a year-on-year basis in 2019, despite an increase of 2.1% in 4Q.
In a statement, Group Chairman and CEO Sultan Ahmed Bin Sulayem said 2019 had been a “challenging year” due to the US-China trade war and regional geopolitical disputes.
However, the terminal operator saw robust growth Asia and Africa, driven largely by Busan, South Korea, Qingdao, China, Manila, Philippines, and Jeddah, Saudi Arabia.
In total it handled 71 million TEU in 2019. Jebel Ali handled 14.1 million TEU, a slump of 5.6% year-on-year.
“In 2019, we have focused on delivering an integrated supply chain solutions product that allows us to connect directly with end customers,” Bin Sulayem said.
“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 Worlds position as the logistics partner of choice.
“Overall, we remain well placed to deliver full year market expectations.”