DP World Reports Nearly 10% TEU Growth in 2021

Dubai-based ports operator DP World reported nearly 10% higher volumes in 2021 with strong volume growth across just about all regions.

DP World reported handling 77.9 million TEU across its global portfolio of container terminals in full year 2021, with gross container volumes increasing by 9.4% year-on-year on a reported basis and up 8.9% on a like-for-like basis.

The ports operator said growth was “broad based” with India, Asia Pacific, Middle East & Africa, Europe, Australia and Americas regions being the key growth drivers.

At a consolidated level, DP World terminals handled 45.4 million TEU during 2021, increasing 8.8% on a reported basis and 8.1% year-on-year on a like-for-like basis.

“We are delighted to report another strong volume performance with growth of 9.4% for the year, which is once again ahead of industry growth of 6.5%. This outperformance is due to our continued investment in high quality assets in the right locations and the delivery of our strategy to offer integrated supply chain solutions to beneficial cargo owners,” said Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem.

Jebel Ali (UAE), which handles volumes for the Middle East, Africa and Europe region, handled 13.7 million TEU in 2021, up 1.9% year-on-year, while India saw year-over-year growth of over 12%.

More growth is expected in 2022, but risks abound with the Covid-19 pandemic, continued supply chain disruptions, rising inflation and geopolitical uncertainty.

“As expected, growth rates moderated in the final quarter of 2021 as the new covid variant, inflation and supply chain bottlenecks impacted global growth. However, looking ahead to 2022, we expect our portfolio to continue to deliver growth and, while the year has started encouragingly, we remain mindful that the Covid-19 pandemic, continued supply chain disruptions, rising inflation and geopolitical uncertainty could continue to hinder the global economic recovery,” said Sultan Ahmed Bin Sulayem.

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