DP World Reports Ahead of Market Volume GrowthSource: www.export-egypt.com 2/6/2023, Location: Middle East |
|
|
|
DP World Limited handled 79 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the full year 2022, with gross container volumes increasing by 1.4 percent year-on-year on a reported basis and up 2.8 percent on a like-for-like basis.
On a 4Q2022 basis, DP World handled 19.5 million TEU, up 2.4 percent on a like-for-like basis. 2022 gross volume growth was broad-based, with Asia Pacific, Middle East & Africa, Australia, and Americas regions all delivering like-for-like growth. At an asset level, Jebel Ali (UAE), Jeddah (Saudi Arabia), Angola (Angola), Sokhna (Egypt), London Gateway (UK), Constanta (Romania), Caucedo (Dominican Republic), Posorja (Ecuador), DP World Santos (Brazil) and all our ports in Australia (Brisbane, Sydney, Fremantle and Melbourne) delivered a solid performance. Jebel Ali has handled 14.0 million TEU in 2022, up 1.7 percent year-on-year. Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem said, “At a consolidated level, our terminals handled 46.1 million TEU during 2022, increasing 1.5 percent on a reported basis and up 0.7 percent year-on-year on a like-for-like basis. “We are delighted to report another solid volume performance with like-for-like growth of 2.8 percent in 2022, which is once again ahead of the industry forecast of a marginal decline of -0.5 percent. This outperformance continues to demonstrate that we are in the right locations and that our strategy to offer integrated supply chain solutions to beneficial cargo owners is bearing fruit." He added that growth was driven by Asia Pacific, the Americas and Australia region. Encouragingly, Jebel Ali’s high-margin origin and destination cargo grew by 8.6 percent, with overall volume growth steady at 1.7 percent for the year, the top executive said. “As expected, growth rates moderated in the final quarter of 2022 due to the more challenging economic environment. Looking ahead to 2023, we expect our portfolio to continue to deliver growth, but the outlook remains somewhat uncertain due to rising inflation, higher interest rates and geopolitical uncertainty," Bin Sulayem noted. “Overall, we are pleased with the business performance in 2022 and remain focused on growing profitability while managing growth capex. The solid volume performance leaves us well-placed to deliver an improved set of full year results,” he said. |
|
Financials and Investment News in United Arab Emirates >> |
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
United Arab Emirates Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | |