DP World’s strong start to 2021 demonstrates resilience of container market

DP World’s TEU throughput increased by 10.2% year-on-year (YoY) in Q1 as it handled approximately 18.9 million containers across its portfolio.

The operator said it has made a strong start to the year and all major regions delivered growth in Q1, especially its terminals in India and Australia.

Its flagship hub, the Port of Jebel Ali, Dubai, handled 3.5 million TEU in Q1, an increase of 2.6% YoY.

Group Chairman and CEO Sultan Ahmed Bin Sulayem described the company’s performance as “ahead of expectations” and said it illustrates the resilience of the global container industry.

“Trade volume growth has accelerated and our strategy of providing integrated supply chain solutions to beneficial cargo owners has allowed us to benefit from this recovery,” Bin Sulayem said.

“Encouragingly, all our 3 regions delivered robust growth, with India and Australia being the key drivers, while our flagship port of Jebel Ali (UAE) saw volumes grow at 2.6%.

“Looking ahead, while the near-term trading environment is positive, we remain mindful that the economic recovery can be disrupted by the Covid-19 pandemic, geopolitical uncertainty in some parts of the world and on-going trade war.

“Overall, the strong start to the year leaves us well placed to deliver an improved performance in 2021.

“Despite the more benign trading environment, we remain focused on containing costs to grow profitability, managing growth capex and continued execution of our strategy of delivering supply chain solutions to beneficial cargo owners.”

The COVID-19 pandemic has caused chaos and uncertainty across the container shipping industry. However, major stakeholders such as DP World have continued to meet market demands and innovate.

The company’s UAE division launched a project to explore the potential of quantum computing in the supply chain and logistics industries.

https://www.porttechnology.org/news/dp-worlds-strong-start-to-2021-demonstrates-resilience-of-container-market/