Dubai: Signalling a massive expansion push, Dubai port operator DP World will add a further 3 million TEUs in contained handling capacity before the close of 2023.
These additional capacities will be in Caucedo (Dominican Republic), including an additional 1.2million TEU, Yarimca (Türkiye) projected at an additional 579,000 TEU, Sokhna (Egypt) adding 500,000 TEU.
There will also be an additional 200,000 TEU at the Jeddah concession it operates, among other key markets.
This will all add into DP World's medium-term ambtion to hit 100 million TEU a year in volumes handled.
Doing so would add ‘much needed infrastructure and capacity to boost global supply chain resilience’. The announcement confirms that the company is looking to the bigger picture and the longer term when it comes to expansion prospects.
"We are committed to investing in our infrastructure to meet the growing demand for trade," said Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World. "These capacity additions will further strengthen our position as a leading global supply chain solutions provider connecting economies, businesses and consumers around the world."
DP World will start operations at Indonesia’s 600,000 TEU Belawan New Container Terminal (BNCT) in North Sumatra by year-end. There, the company will increase BNCT’s capacity to 1.4 million TEUs and 'attract more direct calls' and reduce reliance on regional hub ports. The goal - 'strengthen the port's position as a major trade and logistics gateway in the Malacca Strait, a major shipping route'.
932 m TEUThe projected global container volumes by 2025, according to Drewry, a supply chain consultancy
Take the long view
"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," said Tiemen Meester, COO Ports & Terminals, DP World. "Our medium-term target is to reach 100 million TEU a year, subject to demand."
In February, DP World won the concession to develop, operate and maintain the Tuna-Tekra mega-container terminal at Deendayal port on India's west coast.
Once complete, the terminal will include a 1,100-metre berth and handle 2.19 million TEUs a year, thus 'helping unlock future container traffic growth in India'. The port will also cater to exports and imports from northern, western and central India, reducing logistics cost and enhancing efficiencies across supply chains.