DP World, located in Dubai, said it intends to add around 3 million twenty-foot equivalent units (TEUs) of new container handling capacity by the end of the year in several ports around the world, including Saudi Arabia and Egypt.

The port operator will add 1.2 million TEU in Caucedo (Dominican Republic) and an additional 579,000 TEU in Yarimca (Türkiye). It is projected to add 500,000 in TEU Sokhna (Egypt) and 200,000 TEU in Jeddah (Saudi Arabia).

The developments will increase the company’s overall gross capacity to 93.6 million TEUs. According to a business statement released on Tuesday, it presently controls around 9% of the world’s handling capacity, placing it among the top five worldwide port operators.

Because of growing inflation, increased interest rates, and geopolitical instability, the port operator cautioned that the situation remained uncertain.

DP World handled 79 million TEU across its portfolio of container terminals in 2022, with gross container volumes increasing by 1.4% YoY on a reported basis and 2.8% on a like-for-like basis.

In a filing on Nasdaq on Monday where its bonds are listed, DP World said that consolidated volumes reached 46.1 million TEU during the quarter, up by 1.5% on reported basis and 0.7% on like-for-like basis.