DP World Reports Volume Growth of 3.5% in Q2 2022

DP World handled 20.2 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the second quarter of 2022, with gross container volumes increasing by 2.9% year-on-year on a reported basis and 3.5% on a like-for-like basis according to a company filing with the London Stock Exchange.

Volume growth in 2Q22 was driven by terminals in Asia Pacific, Americas and Australia.

Jebel Ali (UAE) handled 3.6 million TEU in Q2 2022, up 3.5% year-on-year. On a H1 2022 gross basis, DP World handled 39.5 million TEU, with gross container volumes increasing by 2.3% year-on-year on a reported basis and 2.7% on a like-for-like basis.

At a consolidated level, DP World terminals handled 11.6 million TEU in Q2 2022 up 1.8% both on a reported and on a like-for-like basis.

On a H1 2022 consolidated level, it handled 22.9 million TEU, with container volumes increasing by 1.6% year-on-year on a reported basis and 1.4% on a like-for-like basis.

Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented: "We report another solid set of throughput figures with second quarter volume growth of 3.5%, which is once again ahead of industry growth of 2.6%.

"This robust performance illustrates the resilience of the global container industry, and DP World's continued ability to outperform the market.

"Growth was driven by a strong performance across our Asia Pacific, Americas and Australia terminals. Our flagship port of Jebel Ali (UAE) also delivered an improved performance with throughput growth of 3.5% year-on-year.

"Looking ahead, the near-term outlook is uncertain given the geopolitical environment, inflationary pressures and continued impact of the pandemic but we remain positive on the medium to long term outlook for global trade.

"Overall, given the solid start to the year, we expect to deliver an improved full performance."