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Global port operator DP World handled 20.1 million twenty-foot equivalent units (TEUs) in the third quarter of 2022, up 1.5% year-on-year and up 2.1% on a like-for-like basis.
The shipping major handled 59.6 million TEU across its global portfolio of container terminals in the first nine months of 2022, with gross container volumes increasing by 2.0% year-on-year and up 2.5% on a like-for-like basis.
Gross volume growth in Q3 was mainly driven by Asia Pacific, Middle East & Africa, Americas, and Australia with a strong performance from Qingdao (China), ATI (Philippines), LCIT (Thailand), Jeddah (Saudi Arabia), Vancouver (Canada), Posorja (Ecuador), Santos (Brazil), and Australia.
Jebel Ali (UAE) handled 3.5 million TEU in 3Q2022, up 2.0% year-on-year.
At a consolidated level, DP World terminals handled 34.6 million TEU, for the first nine months of 2022, up 1.9% year-on-year and up 1.4% on a like-for-like-basis.
Group Chairman and CEO Sultan Ahmed Bin Sulayem, said: "We report another robust set of throughput figures with nine-month volume growth of 2.5%, which is once again ahead of industry growth of 1.1%."
"As expected, growth rates have decelerated due to the more challenging market conditions, but global trade continues to remain resilient, and our portfolio is expected to continue to outperform the market," he said.
The near-term outlook, according to Sulayem, remains uncertain given the geopolitical environment, inflationary pressures and currency fluctuations. However, DP World is positive on the medium to long term outlook for global trade. "Overall, given the solid nine-month volume performance, we expect to deliver an improved set of full year results," he added.
(Writing by Seban Scaria; editing by Daniel Luiz)
