DP World has marked a strong start in the current year and expects to deliver an improved performance in 2021, however, group chairman and CEO Sultan Ahmed Bin Sulayem noted that DP World the terminal operator will maintain its cost saving programme.
The UAE-based shipping group handled 18.9 million TEU across its global portfolio of container terminals in the first quarter of 2021, with gross container volumes increasing by 10.2% year-on-year on a reported basis and up 9.6% on a like-for-like basis.
[s2If is_user_logged_in()]”This performance is ahead of expectations and illustrates the resilience of the global container industry, and DP World’s continued ability to outperform the market,” commented Bin Sulayem, adding that the group is “focused on containing costs to grow profitability, manage growth capital expenditures (CAPEX) and continued execution of our strategy of delivering supply chain solutions to beneficial cargo owners.”
The first quarter witnessed a strong start to the year and all three regions delivered growth, especially the terminals in India and Australia, according to DP World’s statement.
Simultaneously, the company said stabilisation in Jebel Ali continues with the terminal handling 3.5 million TEU in 2021 Q1, up 2.6% year-on-year.
At a consolidated level, DP World’s terminals handled 11.2 million TEU during the first quarter of 2021, increasing 8.2% on a reported basis and up 7.0% year-on-year on a like-for-like basis.
“We are delighted with the strong start to 2021,” said Bin Sulayem who added, “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.”
[/s2If]
[s2If !is_user_logged_in()]Please login or register to read the rest of the story[/s2If]
