Drewry’s 5-year regional container port demands forecast, volumes are set to surge by 5.1%, from 69M in 2018 to 89M in 2023.
Port volumes in the Middle East are set to be among the fastest growing in the world.
This is faster even than Asia, which is set to grow by 4.9%. Africa follows with a growth of 4.1%, moving from 27M to 34M. This is followed by growth rates of: South America 3.7%, North America 3.6% and Europe 3.4%.
DP World is the terminal powerhouse of the Middle East – and is increasingly taking a large chunk of container port business in Africa and India as it expands and invests in these areas.
DP World underlines that it is a “global trade enabler”. Drewry senior analyst Neil Davidson points out how this is a growing trend within the terminal operating sector, in which DP World is dominant.
In a webinar, he says “There is a desire [by some terminal operators] to be more widely involved in the global supply chain to be closer to cargo customers and this reflects the strategy of some shipping lines.
“…you could argue there is a switch from hardware to cargo owner relationships and being global trade enablers. DP World is at the extreme end of spectrum with a well-publicised global trade enabler strategy.”