DP World to increase container handling capacity at some regional ports by 3 mn TEUs by year’s end

DP World is set to add 3 mn TEU of container handling capacity to ports it operates by the end of 2023, according to a company statement. The company will add 1.2 mn TEUs in Caucedo port in Dominican Republic, 579k TEUs in Yarimca port in Turkey, 500k TEUs in Ain Sokhna port Egypt, and 200k TEUs in Jeddah Islamic Port in Saudi Arabia, among other vital markets.

The expansions will raise the company’s total gross capacity to 93.6 mn TEUs, according to the statement. DP World’s expansion plans come as “inflation, increased cost of living and geopolitical uncertainties [are] causing concern about global trade and fuelling demand for faster, more resilient supply chain solutions,” the statement said.

What they said: “We have to take a longer-term view of global economics, looking at how demand will change and how we can meet it in the most efficient way. Our medium-term target is to reach 100 mn TEU a year, subject to demand,” Tiemen Meester, COO of Ports and Terminals at DP World, said.