Container volume grows 1.0% during last year
DP World handled 71.2mn TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 2019, with gross container volumes flat year-on-year on a reported basis and up +1.0% on a like-for-like basis.
Like-for-like gross volumes in Q4-2019 accelerated to +2.1% with growth driven by Asia Pacific and Africa. Jebel Ali handled 14.1mn TEU in 2019 down 5.6% year-on-year due to a decline in low margin cargo.
At a consolidated level, DP World terminals handled 39.9mn TEU in 2019, an 8.6% improvement in performance on a reported basis and down 0.5% year-on-year on a like-for-like basis.
“2019 has been a challenging year with the trade war between China and US and regional geopolitics causing uncertainty in the market. Despite this, our portfolio has delivered growth which once again demonstrates the resilience of our business,” stated Sultan Ahmed Bin Sulayem. Group Chairman and Chief Executive Officer, DP World in a written statement.
