The group’s annual growth was led by the Asia Pacific, Americas and Australia markets. Credit: DP World.

Dubai-based ports operator DP World processed 79 twenty-foot equivalent units (TEUs) across its global container terminals portfolio in the full year ended 31 December 2022.

The operator handled 19.5 million TEUs in Q4 2022, a 2.4% growth on a like-for-like basis from the same period in 2021.

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On a reported basis, gross container volumes in 2022 rose 1.4% compared with the previous year.

The volumes increased by 2.8% on a like-for-like basis. 

The ports of Jeddah, London Gateway, Jebel Ali, Angola, Sokhna, Posorja, Constanta, Caucedo and DP World Santos (Brazil), as well as all of the company’s Australian ports, performed strongly.

The flagship Jebel Ali port handled 14 million TEUs last year, a 1.7% rise from 2021, while its origin and destination cargo increased 8.6% year-on-year.

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Notably, last month, DP World collaborated with Maersk to lower emissions at Jebel Ali.

London Gateway led UK volume growth last year with a 14% rise, reaching 2.05 million TEUs.

This is the first time that it has surpassed the mark of two million TEUs annually.

Combined, London Gateway and Southampton processed 3.85 million TEUs last year, up 5% from 3.68 million TEUs in 2021.

According to DP World chairman and CEO Sultan Ahmed Bin Sulayem, the group’s annual growth was led by the Asia Pacific, Americas and Australian markets.

However, in Q4 2022, challenging economic conditions moderated the growth, he stated.

For 2023, the firm’s outlook is ‘uncertain’, because of interest rate hikes, geopolitical turbulence and increasing inflation, even though portfolio growth is anticipated.  

Sulayem said: “We are delighted to report another solid volume performance with like-for-like growth of 2.8% in 2022, which is once again ahead of the industry forecast of a marginal decline of -0.5%.

“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 bearing fruit.”