DP World Limited reported strong numbers in the first nine months of the year, citing, among others, it's India performance as a key driver.

The Dubai-based multinational logistics company said it handled 58.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals from January to September, with gross container volumes increasing by 11.9% year-on-year on a reported basis and up 11.4% on a like-for-like basis.

On the third quarter basis, DP World said handled 19.8 million TEU, up 8.1% year-on-year and up 7.9% on a like-for-like basis.

APAC, India, Middle East boost

"3Q2021 gross volume growth was mainly driven by Asia Pacific, India, Middle East & Africa and Australia with a strong performance from Qingdao (China), Mumbai (India) and Sokhna (Egypt). Jebel Ali (UAE) handled 3.4 million TEU in 3Q2021, up 0.6% year-on-year," DP World said.

At a consolidated level, the company said its terminals handled 11.4 million TEU during the third quarter, increasing 7.6% on a reported basis and 7.2% year-on-year on a like-for-like basis.

"We are delighted to report another strong quarter for DP World with throughput growth of 8.1%, which is once again ahead of industry growth of 6.4%. This strong performance illustrates the resilience of the global container industry, and DP World's continued ability to outperform the market," Group chairman and chief executive officer Sultan Ahmed Bin Sulayem said.

"Encouragingly, all our regions continue to deliver volume growth with India being a key driver, and we continue to make solid progress on our strategy to deliver supply chain solutions to beneficial cargo owners," he added.

Outlook remains "positive"

Bin Sulayem noted a positive outlook but also signalled caution for the ongoing impacts of Covid-19 on supply chains.

"The near-term outlook remains positive, but we do expect growth rates to moderate in the final quarter," he said. "Furthermore, we remain mindful that the Covid-19 pandemic, continued supply chain disruptions, and geopolitical uncertainty could continue to hinder global economic recovery."

"Overall, we are pleased with the year-to-date performance and remain focused on growing profitability while managing growth capex. The strong nine-month volumes leave us well placed to deliver an improved set of full year results and we remain focused on delivering our 2022 targets," the DP World chief added.