DP World reports 1.1% gross like-for-like volume growth in Q3 2019

Dubai: DP World has handled 17.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during Q3 2019, with gross container volumes growing by 1.1 per cent year-on-year on a like-for-like basis.

On a nine-month basis, like-for-like gross container volumes grew by 0.7 per cent year-on-a year to 53.5 million TEU, said a press release issued by DP World on Tuesday.

Jebel Ali (UAE) handled 3.6 million TEU in Q3 019, down -1.0 per cent year-on-year, as volumes stabilised following a shift of low-margin cargo. Growth in Asia and India remains robust with strong growth in ATI (Philippines), Qingdao (China). Growth in India has been driven by Cochin, Mundra and NSIGT (Mumbai).

Decline in reported volumes in Asia Pacific & Indian Subcontinent is due to discontinued operations in Surabaya (Indonesia) and Tianjin (China).

Commenting on the results, Sultan Ahmed Bin Sulayem, Group Chairman and CEO, said, “At a consolidated level, our terminals handled 10.3 million TEU during 3Q 2019, a 0.8 per cent improvement year-on-year on a like-for-like basis. The strong reported growth of 93.7 per cent in the Americas and Australia region is due to the consolidation of Australia and the acquisition of the two terminals in Chile.”