DP World Q3 container volumes increase 3.1pc in 2020
GLOBAL port operator DP World handled 18
GLOBAL port operator DP World handled 18.3 million TEU across its global portfolio of container terminals in 3Q 2020, with gross container volumes increasing by 3.1 per cent year on year, reports TradeArabia News Service.
On a nine-month basis, DP World handled 52.2 million TEU, decreasing 2.5 per cent on a reported basis and down two per cent on a like-for-like basis.
Volume growth was driven by Europe, Middle East, Africa and Americas traffic with a strong performance from London Gateway (UK), Jeddah (Saudi Arabia), Sokhna (Egypt), Rotterdam (Netherlands) and Antwerp Gateway (Belgium).
In Americas, growth was driven by Buenos Aires (Argentina), Santiago (Chile) and Vancouver (Canada). Jebel Ali (UAE) handled 3.4 million TEU in 3Q 2020, down 4.2 per cent year-on-year.
At a consolidated level, our terminals handled 10.6 million TEU during 3Q 2020, increasing three per cent but down 1.7 per cent year-on-year basis. The reported growth of +22.1 per cent in Americas and Australia region is mainly due to the consolidation of Caucedo (Dominican Republic).
Said group chairman and CEO Sultan Ahmed Bin Sulayem: 'We are delighted that third quarter volumes turned positive across our three regions with DP World throughput growing 1.9 per cent year on year compared to a 2.2 per cent decline for the industry.
'This performance is ahead of expectations and once again illustrates the resilience of the global container industry, and DP World's continued ability to outperform the market,' he said.
The recovery in volumes was broad based with quarter-on-quarter throughput increasing by almost 10 per cent as world economies began to ease lockdown restrictions.
India, which witnessed a sharp slowdown in 2Q 2020, saw a significant volume improvement versus the second quarter, while Jebel Ali (UAE) delivered 3.4 per cent growth against the previous quarter as trade in the region began to stabilise.
'During this challenging period, we have focused on maintaining efficient supply chains to sustain the delivery of critical and essential cargo. Our strategy to provide solutions to cargo owners has served us well, and our aim is to continue to build on this momentum.
'Looking ahead, we remain focused on containing costs to protect profitability and managing growth capex to preserve cashflow,' he said.