DP World handled 71.2 million 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% on a like-for-like basis.
Like-for-like gross volumes in Q4 2019 increased 2.1% with growth driven by Asia Pacific and African regions. Jebel Ali handled 14.1 million TEU in 2019 down 5.6% year-on-year due to a decline in low margin cargo.
The company explained that like-for-like volumes do not include freight from Paita (Peru) Doraleh (Djibouti), Puerto Central, Puerto Lirquen (Chile) Porsoja (start of operations from August 2019), concession expiry in Surabaya (Indonesia) and discontinuation of concession of Tianjin.
At a consolidated level, that is all terminals where the group has control, DP World’s terminals handled 39.9 million 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.
Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented:
“Last year was 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.”
The CEO went on to say that the company focused its energies on delivering its integrated supply chain solutions and this had a positive effect on its existing and new business. The company is now concentrating on integrating its recent acquisitions and managing costs.
