BUSINESS

DP World reports strong volume growth of 17.1% in Q2 2021

July 28, 2021
P World Limited handled 19.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the second quarter of 2021. — WAM photo
P World Limited handled 19.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the second quarter of 2021. — WAM photo

DUBAI — DP World Limited handled 19.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the second quarter of 2021, with gross container volumes increasing by 17.6 percent year-on-year on a reported basis and 17.1 percent on a like-for-like basis.

Growth in Q2 accelerated with all regions delivering a strong performance, especially our terminals in India, Europe, Australia and the Americas. Jebel Ali (UAE) handled 3.4 million TEU in 2Q2021, up 4.2 percent year-on-year. On a 1H2021 gross basis, DP World handled 38.6 million TEU, with gross container volumes increasing by 13.9 percent year-on-year on a reported basis and 13.3 percent on a like-for-like basis.

At a consolidated level, our terminals handled 11.4 million TEU in 2Q2021, increasing 18.2 percent on a reported basis and up 17.3 percent on a like-for-like basis.

Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented: ''We are delighted to report another strong volume performance with Q2 growth accelerating to 17.1 percent year-on-year, and up 7.3 percent compared to Q2 of 2019, which highlights the strength of the underlying market. Growth continued to be broad-based with all our regions delivering robust performance, with India being exceptionally strong. Encouragingly, the recent volume improvement at our flagship port of Jebal Ali (UAE) continued into 2Q2021 with throughput growth accelerating to 4.2 percent year-on-year.''

"Looking ahead, the near-term outlook remains positive, but we do expect growth rates to moderate in the second half of 2021. Furthermore, we remain mindful that the COVID-19 pandemic and geopolitical uncertainty could once again disrupt the global economic recovery,'' he added.

''Overall, we continue to make good progress on our strategy to deliver supply chain solutions to beneficial cargo owners and are focused on growing profitability while managing growth capex. The strong start to 2021 leaves us well placed to deliver improved full-year performance and we remain focused on delivering our 2022 targets.'' — WAM


July 28, 2021
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