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DP World handled 71.2 mn container units in 2020

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DP World handled 19.1 mn TEU across its global portfolio in Q4 2020

Dubai-based port operator DP World handled 71.2 million container units last year, media reports said. It handled 19.1 TEU across its global portfolio during the fourth quarter of 2020.

Chief executive officer at DP World, Sultan Ahmed bin Sulayem, group chairman and, said in a statement, “This strong end to the year resulted in flat growth in 2020 which compares favourably against an industry that is estimated to be down 2.1 percent. Looking ahead, while 2021 has started encouragingly, the outlook remains uncertain given the continued issues surrounding the pandemic, geopolitical uncertainty in some parts of the world and the ongoing trade war.”

“We remain focused on containing costs to protect profitability, managing growth capex to preserve cashflow and are confident of meeting our 2022 targets,” he added.

In January, DP World won a bid to operate the multipurpose terminal at the Port of Luanda, Angola. DP World will invest around $190 million over the next 20 years in upgrading and sustaining the port. The investment will also be used to increase efficiency in the port. According to DP World, the broader aim to increase annual throughput to 700,000 TEU a year and will include the training and development of existing staff.

DP World has signed an agreement with the government of Senegal to develop a deep water port in the country, media reports said. The first phase of the port will require an investment of around $837 million.

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