Ports giant DP World expects container volume growth to moderate in Q4

Tajammul Pangarkar
Tajammul Pangarkar

Updated · Oct 26, 2021

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October 26, 2021

DUBAI (Reuters) – Dubai ports giant DP World said on Tuesday it expected growth in shipping freight container volumes to moderate in the next quarter after volumes handled rose 8.1% in the third quarter.

Global supply chain disruptions due to pandemic-driven lockdowns and an unexpectedly rapid recovery in trade have led to a shortage of shipping containers, congestion in ports and sky-rocketing freight rates.

“The near-term outlook remains positive, but we do expect growth rates to moderate in the final quarter,” DP World Chairman Sultan Ahmed bin Sulayem said in a statement, citing COVID-19, supply chain constraints and geopolitical uncertainty.

DP World, which operates over 90 terminals across six continents, said it handled 19.8 million shipping containers in the third quarter, while volumes rose 11.9% to 58.4 million containers in the first nine months of the year.

(Reporting by Alexander Cornwell; Editing by Sherry Jacob-Phillips)

Source Link Ports giant DP World expects container volume growth to moderate in Q4

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Tajammul Pangarkar

Tajammul Pangarkar

Tajammul Pangarkar is a CMO at Prudour Pvt Ltd. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and raising general awareness of technical know-how. He frequently contributes to numerous industry-specific magazines and forums. When he’s not ruminating about various happenings in the tech world, he can usually be found indulging in his next favorite interest - table tennis.

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