Recorded a growth in the total volume of handling by 2.5%

DB World achieves strong performance in container volumes during 9 months

DB World Group announced a strong performance in the volume of handling again, handling 59.6 million twenty-foot equivalent containers (TEU) across its global portfolio of container terminals, during the first nine months of 2022, with an overall increase in container volumes of 2.0%. On an annualized reported basis, an increase of 2.5% on a like-forward basis.

In the third quarter,

DB World said in a statement that it handled, based on the third quarter of this year, 20.1 million TEUs, an increase of 1.5% year on year, and an increase of 2.1% on a like-for-like basis.

The overall volume growth in the third quarter of 2022 was mainly driven by figures in the Asia Pacific, Middle East, Africa, Americas and Australia region, with strong performance from Qingdao in China, Asian Terminals Inc. in the Philippines and Lime Chabang. International Terminal in Thailand, Jeddah in Saudi Arabia, Vancouver in Canada, Posorga in Ecuador, Santos in Brazil and Australia.

DB World revealed that Jebel Ali Port handled 3.5 million 20-foot equivalent containers (TEUs) during the third quarter of 2022, which represents an increase of 2.0% year-on-year.

Consolidated level

At the consolidated level, container terminals handled 34.6 million 20-foot equivalent containers, an increase of 1.9% on a like-for-like basis in the first nine months of 2022.

At the consolidated level for the third quarter of 2022, 11.7 million 20-foot containers were handled. Up, 2.7% YoY increase reported and 1.5% YoY increase on a like-forward basis.

Strong performance

Sultan Ahmed bin Sulayem, Chairman and CEO of DB World Group, said: “We announce a strong performance in the volume of handling again, with a growth in the total volume of handling during the first nine months of 2022 estimated at 2.5%, to come Once again, ahead of the sector's growth rate of 1.1%.

He added, “As expected, growth rates have slowed due to more challenging market conditions, but global trade has continued to hold, and our portfolio is expected to continue to outperform the market.”

Bin Sulayem continued: “The growth in the third quarter was primarily driven by the strong performance of our container terminals in the Asia Pacific, the Americas and Australia.

It is encouraging that our main port in Jebel Ali is achieving improved performance, with a growth in total volume of 2.0% year-on-year.”

Looking

to the future, Bin Sulayem pointed out that the near-term outlook remains uncertain, given the geopolitical environment, inflation pressures and currency volatility, expressing optimism about the sector's medium and long-term performance of global trade.

"Overall, given the strong start to the nine months of this year, we expect to deliver an improved performance for the full year," he said.

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