DP World’s container volume drops 9pc in second quarter

Updated 28 Jul 2020

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A July 23 photo shows containers on the docks of a French port. — AFP
A July 23 photo shows containers on the docks of a French port. — AFP

DUBAI: Global port operator DP World recorded a fall of 8.8 per cent in second quarter container volumes, warning on Monday the outlook remained uncertain.

The coronavirus pandemic shut cities and factories worldwide for months, disrupting shipments and global supply chains, while some cities are now reintroducing curbs after a recent rise in infections.

The Dubai state-owned company, which also operates logistics facilities, handled 16.7 million shipping containers in the second quarter, down from 18.3m a year earlier.

It recorded its biggest quarterly decline in the Asia Pacific and Indian subcontinent region, where volumes fell 12.2pc to 7.2m containers.

“Overall, we are encouraged that our business has performed better than expected and, while the outlook is still uncertain, we remain positive on the medium- to long-term fundamentals of the industry,” Chairman Sultan Ahmed bin Sulayem said in a statement.

Volumes handled in the first six months of the year were down 5.3pc at 33.8m containers, DP World said.

Published in Dawn, July 28th, 2020