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DUBAI-BASED port operator DP World expects to add approximately 3 million TEU of new container handling capacity by the end of the year.
The company currently manages approximately 9 per cent of the world's handling capacity, putting it among the top five global port operators. The expansions will take its total gross capacity to 93.6 million TEU, reports Rotterdam's Offshore Energy.
The main expansions will be completed this year in Caucedo (Dominican Republic), including an additional 1.2million TEU, Yarimca (Turkiye) projected an additional 579,000 TEU, Sokhna (Egypt) adding 500,000 TEU, Jeddah (Saudi Arabia) with an additional 200,000 TEU, among other key markets.
Supply chain advisors, Drewry, forecast global container throughput will grow to 932 million TEU by 2025, up from 858 million TEU in 2021.
The firm's capacity expansion plans come at a vital time with inflation, increased cost of living and geopolitical uncertainties causing concern about global trade and fuelling demand for faster, more resilient supply chain solutions.
"These capacity additions will further strengthen our position as a leading global supply chain solutions provider connecting economies, businesses and consumers around the world," Sultan Ahmed Bin Sulayem, Group chairman and CEO of DP World, said.
Tiemen Meester, COO Ports & Terminals, DP World, 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."
Alongside the physical expansion, the projects also focus on digitalisation - implementing new technology and modern terminal operating systems, which will further increase capacity by automating and streamlining operations within each port.
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