DP World third quarter volume up 3.1pc to 18.3 million TEU

GLOBAL port operator DP World handled 18

28 October 2020 - 19:00

GLOBAL port operator DP World handled 18.3 million TEU across its total portfolio of container terminals in the third quarter, with gross container volumes increasing by 3.1 per cent year on year.

Dubai's DP World throughput grew by 1.9 per cent year on year compared to a 2.2 per cent decline for the industry, reported Zawya, a Thomson-Reuters unit.

'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,' said chairman and CEO Sultan Ahmed Bin Sulayem, said.

'While we are encouraged by the recent volume trends, the outlook remains uncertain given the possibility of new lockdowns due to Covid-19 second wave, geopolitical uncertainty with US elections and lack of progress made on trade wars,' he said.

'However, the nine-month solid volume performance leaves us well placed to deliver a relatively stable financial performance in 2020 and we remain confident of meeting our 2022 targets,' he said.

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