Last year Dubai-based DP World handled 71.2 million teu across its global portfolio of container terminals, with gross container volumes up by around 1% on a like-for-like basis. The group points to a positive last quarter during which container throughput growth accelerated to 2.1%.
Highlights of 2019 included robust growth at terminals in Pusan, South Korea; Qingdao, China; Manila, the Philippines; and Jeddah, Saudi Arabia. The ongoing expansion of facilities at London Gateway and Yarimca were also positives for the group.
Throughput at the flagship Jebel Ali port was down by 5.4% compared with 2018 levels, at 14.8 million teu. This is attributed by the group to the loss of low margin cargo flows and a strategic focus on high margin cargo and maintaining profitability.
Meanwhile, DP World, UAE Region, and Zhejiang Zhidi Holding (ZZH) of China will jointly explore the possible establishment of a new logistics hub to meet the rising demand for conventional and e-commerce services in Dubai. A recent Memorandum of Understanding (MoU) signed between the two sides states that the intention is to create a platform that will make Dubai a global e-commerce hub.
The MoU was signed by Abdulla Bin Damithan, Chief Commercial Officer, DP World, UAE Region, and Wuwei, Chairman of ZZH in the presence of shareholders and senior officials from both sides.