DP World reports 7.6% volume growth in Q4 2020

DP World Limited has announced that it handled 19.1 million TEUs (twenty-foot equivalent units) across its global portfolio of container terminals in Q4 2020, with gross container volumes increasing by 7.6 per cent year-on-year on a reported basis and up 6.5 per cent on a like-for-like basis.

On a Fiscal Year (FY) 2020 basis, DP World handled 71.2 million TEUs, flat year-on-year and up 0.2 per cent on a like-for-like basis, the company said in a statement on Monday.

Q4 2020 Like-for-like 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 (UAE) handled 3.4 million TEUs in Q4 2020, up 0.3 per cent year-on-year.

At a consolidated level, DP World terminals handled 11.2 million TEUs during Q4 2020, increasing 10.1 per cent on a reported basis and up 5.2 per cent on a like-for-like basis. On a FY2020 consolidated basis, DP World handled 41.7 million TEUs, up 4.6 per cent on a reported basis and down 1.8 per cent on a like-for-like basis.

The reported FY 2020 growth of 33.3 per cent in Americas and Australia region is mainly due to the consolidation of Caucedo (Dominican Republic) and acquisition of Fraser Surrey Docks (Canada).

Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, commented, “We are delighted to report another set of positive volume figures for Q4 2020 with like-for-like growth accelerating to 6.5 per cent. 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 percent. Overall, this once again illustrates the resilience of the global container industry, and DP World’s continued ability to outperform the market.