The smart logistics provider DP World announced August 16 it would be adding roughly 3 million Twenty-Foot Equivalent Units (TEUs) of container handling capacity by the end of 2023.
The expansion will include 1.2 million additional TEUs in the Dominican Republic, a projected 579,000 extra TEUs in Turkey, 500,000 more TEUs in Egypt and 200,000 additional TEUs in Saudi Arabia.
The expansion will bring DP World’s total gross capacity to 93.6 million TEUs, according to Offshore Energy. Prior to this announcement, DP World controlled about 9% of the globe’s TEU handling capacity.
Beyond physical expansion, the projects will also focus on implementing new technology and adopting updated terminal operating systems at each port, which will automate port operations and lead to an increase in holding capacity.
“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.”
The international research consultancy Drewry Shipping estimates that global container throughput will grow from 858 million TEUs in 2021 to 932 million TEUs by 2025.
