{"id":80371,"date":"2024-08-14T00:00:00","date_gmt":"2024-08-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/08\/14\/dp-world-is-one-of-seven-firms-handling-over-40-of-the-worlds-container-traffic\/"},"modified":"2024-08-14T00:00:00","modified_gmt":"2024-08-14T00:00:00","slug":"dp-world-is-one-of-seven-firms-handling-over-40-of-the-worlds-container-traffic","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/08\/14\/dp-world-is-one-of-seven-firms-handling-over-40-of-the-worlds-container-traffic\/","title":{"rendered":"DP World is one of seven firms handling over 40% of the world\u2019s container traffic"},"content":{"rendered":"

UAE\u2019s DP World is among s<\/strong>even major firms who managed over 40% of global port throughput<\/strong> in 2023<\/strong>, joining the ranks with Singapore\u2019s PSA International<\/a>, China Merchants Ports<\/a>, China\u2019s Cosco Shipping<\/a>, Maersk subsidiary APM Terminals<\/a>, Hong Kong\u2019s Hutchison Ports<\/a>, and MSC Group<\/a>, according to data from Drewry\u2019s Global Container Terminal Operators Annual Review and Forecast<\/a> report. <\/p>\n

The breakdown: <\/strong>Drewry\u2019s Global GTOs Annual Review and Forecast measures the financial and operational performance from 21 global terminal operators. Across all 21 GTOs, equity-adjusted throughput grew 2.3% y-o-y, a good deal above the 0.3% y-o-y boost in global port handling, the report says. The capital expenditure (capex) for terminal operators rose by 9% y-o-y to USD 5.5 bn in 2023.<\/span><\/p>\n

A closer look:<\/strong> Regional giant DP World saw its equity adjusted throughput drop by 4.7% y-o-y to 44.3 mn TEUs in 2023. The terminal operator retained a whopping 5.1% share of world container port throughput, ranking fifth globally.<\/p>\n

Who fared best? <\/strong>PSA International\u2019s equity adjusted throughput rose 4.6% y-o-y, hitting 62.6 mn TEU. MSC witnessed the most dramatic throughput improvement, spiking 10.3% y-o-y to 42.3 mn TEUs, driven by its acquisition of Bollore Africa Logistics back in December 2022.<\/p>\n

Expansion plans:<\/strong> Five major GTOs have plugged some USD 500 mn into capacity expansion projects and equipment modernization, with DP World and PSA each investing over USD 1 bn in capex.<\/p>\n

Global container terminal revenues grew by 0.2% q-o-q in 4Q 2023<\/strong>, according to Drewry\u2019s Global Container Terminal Revenue Index. Revenues increased by a further 7.3% y-o-y in 1Q 2024, driven by increased storage income due to congestion caused by the Red Sea disruptions to global shipping.<\/p>\n

Operational bottleneck:<\/strong> \u201cWhile several of the smaller GTOs have clearly stated their intention to expand their portfolios, there are very limited opportunities to close the 30 mn TEU gap that exists between this leading pack and the rest of the table,\u201d Drewry senior analyst Eleanor Hadland was quoted as saying by Hellenic Shipping News<\/a>.<\/p>\n

Climbing the operational ladder:<\/strong> The UAE\u2019s AD Ports Group and the German Hapag-Lloyd are forecasted to better their rankings on the indicator this year. India\u2019s Adani nabbed thirteenth place, settling as the highest-placed of the newer entries. It produced a throughput of 6.5 mn TEU and its position is forecasted to grow next year buoyed by the Indian market\u2019s international expansion efforts, says the report.<\/p>\n

REMEMBER-<\/strong> UAE-based East Africa Gateway (EAGL), a subsidiary Adani Ports and Special Economic Zone (APSEZ), inked a share purchase agreement in June<\/a> to acquire 95% of Tanzania International Container Terminal Services (Ticts) for USD 39.5 mn from Hutchison Port Holdings and Harbors Investments.<\/p>\n","protected":false},"excerpt":{"rendered":"

Seven major firms manage over 40% of global port throughput.<\/p>\n","protected":false},"author":1,"featured_media":80372,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[255],"tags":[168,122,23,37,123,254,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-80371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-macro-picture","tag-ad-ports","tag-cargo","tag-dp-world","tag-ports","tag-shipping-maritime","tag-the-macro-picture","tag-uae","wpautop","entry"],"acf":{"mongo_id":"3310ef73-95ca-475b-b619-9a7be7a20d15","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/573.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DP 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