DUBAI-HEADQUARTERED global port operator DP World announced that it handled 19.1 million TEU across its global portfolio of box terminals in Q4 2020, a 7.6 per cent year-on-year increase on a reported basis and up 6.5 per cent on a like-for-like basis.
For the fiscal year (FY) 2020, DP World handled 71.2 million TEU, flat year on year and up 0.2 per cent on a like-for-like basis.
In Q4 2020, the gross volume growth was mainly driven by India, Europe, Middle East, Africa and Americas with a strong performance from Mundra (India), London Gateway (UK), Rotterdam (Netherlands), Antwerp Gateway (Belgium) and Sokhna (Egypt).
In Americas, growth was driven by DP World Santos (Brazil) and Vancouver (Canada).
Jebel Ali in Dubai meanwhile handled 3.4 million TEU in Q4 2020, up 0.3 per cent year on year.
“This strong end to the year resulted in flat growth in 2020 which compares favourably against an industry that is estimated to be down 2.1 per cent,” said Sultan Ahmed bin Sulayem, group chairman and CEO of DP World.
He added while the growth in volumes was encouragingly across all regions, with India being a key driver, DP World’s “flagship port of Jebel Ali saw volumes stabilising.”
“We continue to invest selectively in projects that offer compelling value such as Dakar (Senegal) and Luanda (Angola),” he said.
Last month, DP World signed a 20-year concession agreement with the government of Angola to operate the Multipurpose Terminal (MPT) at the Port of Luanda.
DP World said that it will invest US$190 million over the 20-year period on upgrading the port, with the upgrades expected to increase the terminal’s annual throughput to approximately 700,000 TEU per year.