Global trade and logistics major DP World has reported handling 33.9 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first half of 2020, with gross container volumes decreasing by 5.3% year-on-year on a reported basis and down 3.9% on a like-for-like basis.
At a consolidated level, DP World’s terminals handled 20 million TEU during the first half of 2020, down 5.4%. Jebel Ali (UAE) handled 6.7 million TEU in 1H2020, down 6.8% due to Covid-19 and loss of lower-margin cargo.
Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented: “Like most industries, the maritime and logistics sector is going through an unprecedented and challenging period due to the COVID-19 outbreak. As a result, our portfolio has seen volumes weaken by -7.9% in 2Q2020 and -3.9% in 1H2020. However, this compares favourably against an estimated industry decline of -15% in 2Q2020 and -10% in 1H2020.”