SIMIC

DP World handled 20.1 million TEU in the third quarter, up 1.5 per cent year on year. Third quarter gross volume growth was driven by Asia Pacific, Middle East & Africa, Americas, and Australia, with a strong performance from Qingdao (China), ATI (Philippines), LCIT (Thailand), Jeddah (Saudi Arabia), Vancouver (Canada), Posorja (Ecuador), Santos (Brazil) and Australia.

"We report another robust set of throughput figures with nine-month volume growth of 2.5 per cent, which is once again ahead of industry growth of 1.1 per cent. As expected, growth rates have decelerated due to the more challenging market conditions, but global trade continues to remain resilient, and our portfolio is expected to continue to outperform the market," said DP World CEO Sultan Ahmed Bin Sulayem.

"Growth in the third quarter was primarily driven by a solid performance across our Asia Pacific, Americas, and Australia terminals. Encouragingly, our flagship port of Jebel Ali (UAE) continues to deliver robust volumes with growth of two per cent year-on-year.

"Looking ahead, the near-term outlook remains uncertain given the geopolitical environment, inflationary pressures, and currency fluctuations, but we remain positive on the medium to long-term outlook for global trade. Overall, given the solid nine-month volume performance, we expect to deliver an improved set of full-year results.," said Mr Sulayem.