Dubai giant DP World sees coronavirus rebound ‘ahead of expectations’

Dubai giant DP World sees coronavirus rebound ‘ahead of expectations’

Dubai-based DP World said on Monday that it saw third quarter volumes turn positive ahead of expectations following the impact of the coronavirus pandemic.

The port operator said volumes handled across its three regions grew by 1.9 percent year-on-year compared to a 2.2 percent decline for the industry.

Port operator says that despite Covid-19 it is well positioned to face the current challenges experienced by the industry

"This performance is ahead of expectations and once again illustrates the resilience of the global container industry, and DP World's continued ability to outperform the market," said DP World group chairman and CEO, Sultan Ahmed Bin Sulayem.

DP World Limited handled 18.3 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in Q3, with gross container volumes increasing by 3.1 percent year-on-year on a