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

DP World TEU_IFM_Image
This led to a increase in gross container volume of 7.6 percent

Dubai-based port operator DP World handled around 19.1 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the fourth quarter of 2020, media reports said. This led to an increase in gross container volume of 7.6 percent.

In this regard, Sultan Ahmed bin Sulayem, group chairman and chief executive officer of DP World told the media, “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.”

“Overall, this once again illustrates the resilience of the global container industry, and DP World’s continued ability to outperform the market. The growth in volumes was encouraging across all our regions with India being a key driver, while our flagship port of Jebel Ali saw volumes stabilising. We continue to invest selectively in projects that offer compelling value such as Dakar (Senegal) and Luanda (Angola). Our strategy to provide solutions to cargo owners has served us well, and our aim is to continue to build on this momentum.”

Last month, 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.

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