“Dubai Ports” records a growth in the volume of handling by 11.9% during 9 months

“Dubai Ports” records a growth in the volume of handling by 11.9% during 9 months
“Dubai Ports” records a growth in the volume of handling by 11.9% during 9 months

Dubai – Mubasher: Dubai World Group “DB World Limited” handled 58.4 million 20-foot equivalent containers (TEUs) across its global portfolio of container terminals during the first nine months of 2021.

Total volumes handled saw an increase of 11.9 percent year-on-year and an increase of 11.4 percent on a like-forward basis.

On the basis of the third quarter of 2021, DB World handled 19.8 million 20-foot equivalent containers, an increase of 8.1 year-on-year and 7.9 percent on a like-for-like basis, according to a press release.

The overall growth in the volume of handling during the third quarter of 2021 was mainly driven by the results of the Asia Pacific region, India and the Middle East, and at Jebel Ali Port (UAE), 3.4 million 20-foot equivalent containers (TEU) were handled during the third quarter of 2021. by 0.6 percent on an annual basis.

Container terminals handled 11.4 million 20-foot equivalent containers (TEUs) during the third quarter of 2021, representing an increase of 7.6 percent on a reported basis and 7.2 percent year-on-year for the like-for-like growth rate.

Sultan Ahmed bin Sulayem, Group Chairman and CEO, said: “We are pleased to report a strong performance for DB World Group during another quarter with a growth in total volume of 8.1 per cent to come again ahead of the sector’s growth of 6.4 per cent. “.

He added, “It is encouraging that all of our regions continue to achieve growth in container volumes with India being a key driver and we continue to make strong progress in our strategy to provide supply chain solutions to beneficial cargo owners. The outlook for the near term remains positive.”

DP World appointed a group of banks on June 23, 2020 regarding a possible sale of dollar-denominated sukuk, where the proceeds will be used for general purposes, including refinancing..

Citibank, Deutsche Bank and JPMorgan will arrange calls with investors in Asia, the Middle East and Europe to issue non-callable perpetual dollar-denominated sukuks five and a half years in advance, depending on market conditions.

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