DB World records a growth in handling volume by 11.9%
DB World handled 58.4 million TEUs across its global portfolio of container terminals during the first nine months of 2021 and total volumes increased by 11.9 percent year-on-year and by 11.4 percent on a like-for-like basis.
On the third quarter of 2021, DB World handled 19.8 million 20-foot equivalent containers (TEUs), an increase of 8.1 year-on-year and 7.9 percent on a like-for-like basis.
Overall volume handling growth during Q3 2021 was primarily driven by results from Asia Pacific, India, Middle East, Africa and Australia with strong performances from Qingdao (China), Mumbai (India) and Sokhna (Egypt).
At Jebel Ali Port (UAE), 3.4 million 20-foot equivalent containers (TEUs) were handled during the third quarter of 2021. This represents an increase of 0.6 percent year on year.
At the consolidated level, container terminals handled 11.4 million TEUs during the third quarter of 2021, which represents an increase of 7.6 percent on a declared basis and 7.2 percent year on year for the like-for-like growth rate.
Sultan Ahmed bin Sulayem, Group Chairman and CEO, said: “We are pleased to report a strong performance for DB World during another quarter with a growth in total volume of 8.1 percent to come again ahead of the sector’s growth of 6.4 percent. . This is further evidence of the resilience of the container shipping sector globally and of DB World's continued ability to outperform its peers in the market.
He added, “It is encouraging that all of our regions continue to achieve growth in container volumes with India being a key driver and we continue to make strong progress in our strategy to provide supply chain solutions to beneficial cargo owners.
The near-term outlook remains positive.
Overall, we are pleased with this year's performance so far and will continue to focus on achieving our goals in terms of increasing profitability and managing growth capital expenditures. The strong performance in container volumes during the first nine months of 2021 puts us in a good position to deliver improved results for the full year and we remain focused on achieving our targets. for the year 2022.”
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