DP World handled 71.2 million teu across its global portfolio of container terminals in 2019.
The company also announced that gross container volumes were flat year-on-year on a reported basis and up +1.0 percent on a like-for-like basis which does not include volumes from: Paita (Peru) Doraleh (Djibouti), Puerto Central, Puerto Lirquen (Chile) Porsoja, Surabaya (Indonesia) and Tianjin.
Group chairman and chief executive officer Sultan Ahmed Bin Sulayem, commented:“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. We saw robust growth across Asia and Africa driven by Pusan (South Korea), Qingdao (China), Manila (Philippines) and Jeddah (Saudi Arabia). In Europe we saw continued ramp-up in London Gateway (UK) and Yarimca (Turkey) while Prince Rupert (Canada) and Callao (Peru) continued to deliver strong growth. In the UAE, volumes were down due to the loss of low-margin throughput, where we remain focused on high margin cargo and maintaining profitability.”
Bin Sulayem added: “In 2019, we have focused on delivering an integrated supply chain solutions product that allows us to connect directly with end customers. We are seeing positive signs of progress in our new businesses that give us encouragement for the future. The near-term focus is on integrating our recent acquisitions, managing costs and disciplined investment to cement DP Worlds position as the logistics partner of choice. Overall, we remain well placed to deliver full year market expectations.”