DP World handled 18.3m TEU across its global portfolio of container terminals in Q3 2020, with gross container volumes increasing by 3.1% year-on-year on a reported basis and up 1.9% on a like-for-like basis. On a nine-month basis, DP World handled 52.2m TEU, decreasing 2.5% on a reported basis and down 2.0% on a like-for-like basis.
Like-for-like gross volume growth was mainly driven by Europe, Middle East & Africa and Americas with a strong performance from London Gateway (UK), Jeddah (Saudi Arabia), Sokhna (Egypt), Rotterdam (Netherlands) and Antwerp Gateway (Belgium). In the Americas, growth was driven by Buenos Aires (Argentina), Santiago (Chile) and Vancouver (Canada). Jebel Ali (UAE) handled 3.4m TEU in Q3 2020, down 4.2% year-on-year.
At a consolidated level, DP World terminals handled 10.6m TEU during Q3 2020, increasing 3.0% on a reported basis and down 1.7% year-on-year on a like-for-like basis. The reported growth of 22.1% in Americas and Australia region is mainly due to the consolidation of Caucedo (Dominican Republic).
“Overall, while we are encouraged by the recent volume trends, the outlook remains uncertain given the possibility of new lockdowns due to Covid-19 second wave, geopolitical uncertainty with US elections and lack of progress made on trade wars. However, the nine-month solid volume performance leaves us well placed to deliver a relatively stable financial performance in 2020 and we remain confident of meeting our 2022 targets,” said Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem.
Source: DP World
