The port operator handled 17.2 million TEU across its global portfolio of container terminals in the first quarter of 2020, with gross container volumes decreasing by 1.7% year-on-year on a reported basis and up 0.3% on a like-for-like basis.<\/p>\n Reported volumes declined in Asia Pacific and India Region due to the expiry of concession in Surabaya (Indonesia) and disposal in Tianjin (China).\u00a0 <\/p>\n Greater challenges lie ahead with the anticipated decline of global trade and volumes in the second quarter of the year and onwards, the port operator believes.<\/p>\n Hence, the economic impact of the pandemic is expected to felt to a greater extent in the coming quarter.<\/p>\n “Global trade and container volumes are forecast to decline in 2020 and the wide range of estimates by industry specialists (Drewry -3%, Sea-Intel -10%) further emphasizes the short-term uncertainty faced by our sector. Similarly, the timing of any recovery is uncertain with trade expected to pick up as and when global economic activity normalizes,” <\/em>Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem <\/strong>commented.<\/p>\n “Given the more challenging environment, our near-term focus is on integrating our recent acquisitions to drive synergies, containing costs to protect profitability, managing growth capex to preserve cashflow and maintaining our investment grade rating.”<\/em><\/p>\n He added that the company’s investment in digital technology and automation has enabled it to minimize the disruption at its ports and remain operational. <\/p>\n \t\t\t<\/a><\/p>\n Moving forward the outlook is a cause for concern due to numerous uncertainties. However, DP World’s CEO said the company remains positive on the long-term fundamentals of the industry. <\/p>\n<\/p>\n The post DP World says outlook concerning amid COVID-19 uncertainties<\/a> appeared first on Offshore Energy<\/a>.<\/p>\n world maritime news<\/p>\n","protected":false},"excerpt":{"rendered":" Dubai-based port and terminal operator DP World had a robust performance in the first quarter of the year with the like-for-like throughput broadly flat year-on-year. The port operator handled 17.2 million TEU across its global portfolio of container terminals in the first quarter of 2020, with gross container volumes decreasing by 1.7% year-on-year on a …<\/p>\n","protected":false},"author":1,"featured_media":8547,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[1154,2303,3379,1185],"class_list":["post-8546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-covid19","tag-outlook","tag-uncertainties","tag-world"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/8546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=8546"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/8546\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/8547"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=8546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=8546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=8546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"DP](\"https:\/\/cdn.offshorewind.biz\/file\/sites\/6\/2020\/04\/23161154\/DP_World_001.png\")
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\n\t\t\t\tDP World rolls out digital platforms to facilitate global trade during COVID-19
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