DP World, one of the world's biggest port operators, has passed 100 million 20-foot equivalent units (TEUs) of container-handling capacity across its global operations, the company announced on Tuesday.
It reflects more than $11 billion in strategic investments made over the past decade in infrastructure, expansions and acquisitions to meet the evolving demands of global trade, the Dubai-based logistics company said. Its global gross container handling capacity jumped by 5 per cent in the past 12 months.
“We are confident that the global container market will continue to grow in the years ahead and we will have the capacity to service it,” said Sultan bin Sulayem, DP World's group chairman and chief executive. Through our decades of experience operating in some of the most dynamic markets in the world, we have gained a deep understanding of every aspect of the complex global supply chain.”
Global container throughput is projected to expand by 2.8 per cent this year, according to Drewry Container Forecaster. DP World, with its investments in underdeveloped markets such as Tanzania and Romania, has expanded capacity and boosted trade in regions previously constrained by infrastructure challenges.
The Dubai company now holds a 9.2 per cent share of the global container market, supported by a 33 per cent growth in capacity since 2014. Some of the latest initiatives included the addition of a $450 million berth at London Gateway and a $400 million expansion in Peru’s Port of Callao.
“Over the last 20 years we have invested in ports and terminals across the world, often in less traditional and underdeveloped trade markets, where our socio-economic impact has been significant,” said Tiemen Meester, chief operating officer for ports and terminals at DP World.
Last year, DP World acquired Dar es Salaam port in Tanzania, which had seen little development since the 1950s and faced vessel waiting times of more than a month. It signed a 30-year concession to operate and modernise the multipurpose port, on which it will initially invest more than $250 million on upgrades. The investment could increase to $1 billion during the concession period, alongside hinterland logistics projects.
With new projects under way in India, Senegal and Malaysia, DP World aims to further cement its position as a leader in global trade logistics.
Last month, the company issued a $100 million blue bond aimed at funding sustainable projects in marine transport, port infrastructure, battling marine pollution and water quality initiatives as it taps into growing investor demand for eco-friendly finance deals.
