24.5 C
Friday, June 9, 2023
Evergreen Line
Evergreen Line
Evergreen Line
Home Most Visited DP World reports 19.5 million TEUs in 2023 first quarter

DP World reports 19.5 million TEUs in 2023 first quarter

DP World handled 19.5 million TEUs across its global portfolio of container terminals in the first quarter of 2023, with gross container volumes increasing by 1.4% year-on-year.

The UAE-based port and terminal operator said the growth was driven by a strong performance in Asia Pacific and India, which was partially offset by softer performance in Europe and the Americas.

DP World's flagship terminal in Jebel Ali, UAE handled 3.5 million TEUs in the first three months of the year, representing a year-on-year growth of 2.3%.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, commented, “Our portfolio has had an encouraging start to the year with container volume growth of 3.7%, once again ahead of the market, which is estimated to be down by 6.3%. This outperformance continues to demonstrate that we are in the right locations, and our strategy to offer integrated supply chain solutions to beneficial cargo owners is driving value for our stakeholders.”

He went on to add, “The near-term outlook remains somewhat uncertain, given the geopolitical backdrop, high inflation and currency fluctuations. However, we expect our portfolio to deliver stable performance in 2023 as we remain focused on driving revenue synergies from our recent acquisitions while managing costs and growth capex.”

Antonis Karamalegkos
Managing Editor

Latest Posts

Range-bound composite indices, US-China rates spike as transatlantic rates drop

A string of General Rate Increases (GRI) starting in March-April hasn't helped the container spot rates.The Shanghai Composite Index which had a momentary upside...

Tideworks Technology introduces simulated training tool for tractor drivers at Mexican terminal

Tideworks Technology, a full-service provider of terminal operating system (TOS) solutions, announced the successful installation of its newest product DriverSIM at Manzanillo International Terminal...

Asyad Line expands REX service to Saudi Arabia

The Saudi Ports Authority (Mawani) confirmed the addition of Jeddah Islamic Port in Saudi Arabia to Asyad Line's REX service port rotation.The new cargo...

Maersk’s subsidiary Hamburg Süd hit by largest FMC fine

Hamburg Süd, owned by Danish giant ocean carrier Maersk, received the largest penalty from the Federal Maritime Commission (FMC) for the OJ Commerce (OJC)...

Port of New Orleans appoints new COO

Matthew Wypyski is the new chief operating officer (COO) of the Port of New Orleans (Port NOLA) in the United States.Wypyski succeeds Mike Stolzman...