DP World head sees 'positive signs' despite flat growth in box volume in 2019
DUBAI-BASED port operator DP World announced that it has handled a total of 71
DUBAI-BASED port operator DP World announced that it has handled a total of 71.25 million TEU across its global portfolio of container terminals for 2019 amid a challenging year marked by geopolitical tensions.
The throughput for last year was relatively unchanged 7.4 million TEU recorded in 2018.
The terminal operator handled volumes of 31.76 million TEU for Asia Pacific and Indian Subcontinent, 30.04 million TEU for Europe, Middle East and Africa, and 9.45 million TEU for Americas and Australia, reports Seatrade Maritime News, Colchester, UK.
'2019 has been a challenging year with the trade war between China and US and regional geopolitics causing uncertainty in the market. Despite this, our portfolio has delivered growth which once again demonstrates the resilience of our business,' said Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World.
DP World enjoyed growth across Asia and Africa driven by Busan, Qingdao, Manila and Jeddah. In Europe, it saw continued ramp-up in London Gateway and Yarimca while Prince Rupert and Callao also continued to deliver growth.
In the UAE, volumes were down due to the loss of low margin throughput, where DP World remain focused on high margin cargo and maintaining profitability.
'In 2019, we have focused on delivering an integrated supply chain solutions product that allows us to connect directly with end customers. We are seeing positive signs of progress in our new businesses that give us encouragement for the future,' said Mr Bin Sulayem.
'Overall, we remain well placed to deliver full year market expectations.'