Dubai, UAE – DP World Limited, a global container terminal operator based in Dubai, has reported an increase in container volumes during the first quarter of 2023.
The company handled 19.5 million TEUs across its global portfolio, which is a 1.4 percent increase on a reported basis and a 3.7 percent increase on a like-for-like basis compared to the same period last year.
The growth was driven by a strong performance in Asia Pacific and India, while Europe and the Americas saw softer performance. Jebel Ali, DP World’s flagship terminal in Dubai, handled 3.5 million TEUs, a 2.3 percent increase year-on-year.
However, at a consolidated level, DP World terminals handled 11.4 million TEUs during the first quarter of 2023, which is a 0.7 percent increase on a reported basis but a 1.3 percent decrease on a like-for-like basis.
Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer, said the company’s outperformance demonstrated that they are in the right locations.
“Given the geopolitical backdrop, high inflation and currency fluctuations, the near-term outlook remains somewhat uncertain,” he added.
Bin Sulayem continued, “However, we expect our portfolio to deliver a stable performance in 2023 as we remain focused on driving revenue synergies from our recent acquisitions while managing costs and growth capex.”
