Dubai – Mubasher: DP World Limited has recorded a 3.1% year-on-year (YoY) rise in gross container volumes during the third quarter (Q3) of 2020, according to a press release on Monday.
In Q3-20, the group handled 18.3 million TEU, twenty-foot equivalent units, across its global portfolio.
DP World saw 52.2 million TEU during the first nine months of 2020, 2.5% lower than the corresponding period of 2019.
Meanwhile, the group's gross container volumes increased by 1.9% on a like-for-like basis, driven by Europe, the Middle East and Africa, and the Americas.
The group witnessed a strong performance from London Gateway in the UK, Jeddah in Saudi Arabia, Sokhna in Egypt, Rotterdam in the Netherlands, and Antwerp Gateway in Belgium.
At a consolidated level, DP World's terminals handled 10.6 million TEU in Q3-20, up 3% on a reported basis and down 1.7% YoY on a like-for-like basis.
The Group Chairman and CEO, Sultan Ahmed bin Sulayem, noted: "The recovery in volumes was broad-based with quarter-on-quarter throughput increasing by almost 10% as world economies began to ease lockdown restrictions."
Sulayem added: "India, which witnessed a sharp slowdown in Q2-2020, saw a significant volume improvement versus the second quarter, while Jebel Ali (UAE) delivered 3.4% growth against the previous quarter as trade in the region began to stabilise."
It is noteworthy to mention that during the first half (H1) of 2020, the group's net profits plunged by 56% YoY to $333 million from $753 million in the corresponding period of 2019.
