DP WORLD aims to add about 3 million TEU of new container-handling capacity to its international operations by the end of this year.
The Dubai-based container terminal operator said it currently manages about 9% of the world’s container-handling capacity.
This year’s expansions will increase its total gross capacity to 93.6 million TEU.
Growing around the world
In a statement, the company said it would this year complete key expansions in Caucedo (Dominican Republic), including an additional 1.2 million TEU; Yarımca (Türkiye), projected an additional 579,000 TEU; Sokhna (Egypt) adding 500,000 TEU; and Jeddah (Saudi Arabia) with an additional 200,000 TEU, among other key markets.
DP World group chairman and CEO Sultan Ahmed bin Sulayem said: “We are committed to investing in our infrastructure to meet the growing demand for trade. These capacity additions will further strengthen our position as a leading global supply chain solutions provider connecting economies, businesses and consumers around the world.”
DP World chief operating officer ports and terminals Tiemen Meester 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 million TEU a year, subject to demand.”
According to DP World’s recent Trade in Transition 2023 report, businesses around the world are prioritising growth through market expansion.
The report said key drivers of export growth in 2023 to be growing demand and expansion of operations into new markets.
In March, DP World announced the first commercial use of its Boxbay high-bay storage system at the Pusan Newport Corporation (PNC) terminal in South Korea.
DP World has a 66% stake in PNC, which operates a container terminal with a capacity of 5.3 million TEU. DP World said the addition of the Boxbay would allow PNC to boost its efficiency.
DP World is also set to commence operations at Indonesia’s 600,0000-TEU Belawan New Container Terminal (BNCT) in North Sumatra by the end of the year.
The company said it would work to increase BNCT’s capacity to 1.4 million TEU and attract more direct calls.
In February, DP World won a major concession to develop, operate and maintain the Tuna-Tekra mega-container terminal at Deendayal port on the western coast of India. Once complete, the terminal will include a 1100-metre berth and handle 2.19 million TEU per year.