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            december 06, 2019

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DP World sees Q3 box traffic grow 1.1pc globally


DP World's total container throughput across its global box terminals in the third quarter rose by 1.1 per cent year on year, on a like-for-like basis, to stand at 17.7 million TEU.
In the first nine months of the year, like-for-like gross container volumes increased by 0.7 per cent compared to the same period last year to 53.5 million TEU, reported Arabian Business, Dubai.
The Jebel Ali terminal handled 3.6 million TEU in Q3, a decrease of one per cent year on year as volumes stabilised following a shift of low-margin cargo.
Growth in Asia remains robust, with strong growth recorded at ATI in the Philippines and at Qingdao port in China. In India growth was driven by Cochin, Mundra and Mumbai's NSIGT.
At a consolidated level, DP World terminals handled 10.3 million TEU during the third quarter, representing a year-on-year increase of 0.8 per cent on a like-for-like basis.
The growth of 93.7 per cent in the Americas and Australia was attributed to the consolidation of Australia and the acquisition of two terminals in Chile.
DP World group chairman Sultan Ahmed bin Sulayem said: "It is encouraging to see robust growth in key markets such as Asia Pacific and Indian Subcontinent, while growth in west coast of Americas remains solid.
"In Europe, London Gateway continues to deliver strong growth due to market share gains," he added. "While we have seen volumes stabilising in Jebel Ali (UAE), the outlook remains uncertain given the regional geopolitics and we remain focused on profitable origin and destination cargo."
He said the near-term focus "is on integrating our recent acquisitions, managing costs and disciplined investment to cement DP World's position as the logistics partner of choice."

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