DP World DP World Limited, a leading provider of integrated supply chain solutions enabling trade flows around the world, handled 19.5 million TEUs in the first quarter of 2023. Reported year-over-year and 3.7% on a like-for-like basis.
Overall handling volume growth in the first quarter of 2023 was driven by strong container terminal performance in Asia Pacific and India, partially offset by lower performance in Europe and the US. At Jebel Ali Port (UAE), 3.5 million TEUs were handled, an increase of 2.3% year-on-year.
On a consolidated basis, container terminals handled 11.4 million TEUs, an increase of 0.7% year-on-year and a decrease of 1.3% in the first quarter of 2023.
Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World Group, said: “Our global business portfolio has seen an encouraging start to the year, with us achieving 3.7% gross handling growth in the first quarter of 2023, and look forward to rebounding. The average market is expected to decline by 6.3%. Our portfolio’s outstanding performance highlights the strength of our business strategy to provide integrated supply chain solutions to inventory owners in the right regions and countries, thereby increasing real shareholder value. .”
Growth in the first quarter was mainly driven by strong performance in the Asia Pacific and India regions. However, as expected, growth in container volumes has been moderate in some regions such as Europe and the US due to uncertainty related to economic conditions. Handling volumes at the strategic Jebel Ali port terminals also maintained their strength, growing by 2.3%.
Looking ahead, the near-term outlook remains somewhat uncertain due to the geopolitical environment and pressures from high inflation and currency volatility, although we expect our portfolio to deliver.
Sustained performance in 2023 will focus on achieving returns from our recent acquisitions, while maintaining effective cost management and capital expenditure growth.
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