DP World, the Dubai Ports World group, expects to add new container handling capacity “nearly 3 million x 20ft (TEUs) units” by the end of 2023.
In order to boost the resilience of global supply chains so total handling capacity will increase to 93 million TEUs.
Currently DP World group manages around 9% of global handling capacity, making it one of the top five global port operators.
The expansions will bring its total capacity to 93.6 million TEUs to meet growing demand in major trading markets.
The expansions will bring its total capacity to 93.6 million TEUs to meet growing demand in major trading markets.
Major expansion projects this year will be completed in many ports including the below:
–Caucedo Port (Dominican Republic), with 1.2 million TEUs.
–Yarimca Port (Turkey), with 579,000 TEUs.
–Sokhna Port (Egypt), with 500,000 TEUs.
–Jeddah Islamic port (Saudi Arabia), with 200,000 TEUs.
Drewry Consulting for Supply Chain predicts global container handling productivity will grow to 932 million TEUs by 2025, up from 858 million TEUs in 2021.
DP World’s plans to expand capacity come at a critical time.
When inflation, living costs, and geopolitical uncertainty are raising concerns about global trade.
As well as increasing demand for faster and more resilient supply chain solutions.
According to DP World’s 2023 “Trade in Transition” report, companies are still prioritizing growth through market expansion.
The report found that the key drivers of export growth in 2023 will be increased demand and expansion into new markets.
The report also highlighted the use of technology as the main reason for executives’ optimism about global trade.
Sultan Ahmed bin Sulayem, chairman and CEO of DP World, said:
“We confirm our commitment to investing in our infrastructure to meet the growing demand for trade.
These capacity additions will support our position as a leading global provider of supply chain solutions connecting economies,businesses and consumers around the world.”
Tim Menster, DP World’s chief port and container terminal operations officer, said:
“We need to take a long-term view of the global economy and see how demand is changing.
And how we can meet it more efficiently.
Our medium-term target is to reach 100 million TEUs per year, depending on demand.”
In addition to physical expansion, the projects are also focused on digitization.
Which includes the implementation of new technologies and advanced operating systems for container terminals.
This will increase capacity through automation and streamline operations within each port.
And also will enable greater trade flows and more efficient operations for customers.
DP World expects to significantly improve its handling capacity in the same physical space through the use of mechanized equipment and smart working methods.
Also, DP World will start operations at the new Belawan (BNCT) container terminal in North Sumatra, Indonesia.
With a capacity of 600,000 TEUs by the end of the year.
Moreover, DP World will increase the capacity of the new Belawan container terminal to 1.4 million TEUs.
And also attract more direct shipping calls, reduce reliance on regional ports.
Besides strengthening its position as a major commercial and logistics gateway in the Strait of Malacca, a major shipping route.
In February, DP World won a major concession to develop, operate, and maintain the massive Tuna Tekra container terminal at the Deendayal Port on the west coast of India.
When completed, the terminal will have a 1,100-meter quay and will handle 2.19 million TEUs per year.
Also will pave the way for future growth in India’s container traffic.
Besides meeting exports and imports from north, west, and central India.
And also reducing logistics costs and improving supply chain efficiency.
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