DP World has seen strong growth at London Gateway
DP World Limited handled 19.3 million TEU across its global portfolio of container terminals in the first quarter of 2022, with gross container volumes increasing by 1.7% year-on-year on a reported basis and up 1.9% on a like-for-like basis.
First quarter volume growth was driven largely by strong performances at Qingdao, China; Sokhna, Egypt; London Gateway; UK; Yarimca, Turkey; Dakar, Senegal;Caucedo, Dominican Republic;Buenos Aires, Argentinaand Posorja, Ecuador. Its flagship terminal in Jebel Ali, Dubai, handled 3.4 million TEU in the first three months of this year, a decrease of 1 per cent compared with the equivalent months of 2021.
Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented: “As anticipated, first quarter 2022 volume growth has softened due to the strong prior year performance and uncertain macro environment. However, we continue to see robust growth in markets such as Asia Pacific and the Americas, while in Europe, London Gateway’s strong performance has continued into 2022. The softer volumes in Jebel Ali are due to loss of low margin throughput where we remain focused on more profitable origin and destination cargo.”
