DP World sets automotive record in UAE, handling over 1 million vehicles in 2024
DP World achieved a new milestone in 2024, handling a record 1.3 million vehicles across its terminals in Dubai. This marks a 53.6 percent increase from the previous year and is the highest in the company's history.
DP World's flagship, Jebel Ali Port, accounted for the majority of this volume, handling nearly 960,000 units, reinforcing its position as the region's premier automotive hub. The remainder were handled at Mina Al Hamriya and Mina Rashid.
This record-breaking performance underscores the strong growth in the automotive industry and DP World's pivotal role in facilitating vehicle imports and exports in the Gulf region.
China emerged as the top trading partner, contributing nearly 25 percent of vehicle volumes, followed by Japan, Korea and India.
The global automotive landscape is undergoing a major transformation, with electric vehicles (EVs) projected to surpass traditional internal combustion engine vehicles by 2036.
Given that China manufactures more than half of the world's EVs, the global supply chain is evolving to support this new shift towards sustainable mobility.
Abdulla bin Damithan, CEO and Managing Director of DP World GCC, said, "Dubai's emergence as a global automotive hub offers immense potential for markets in Asia and Europe, with positive ripple effects on our local economy. The automotive industry is a powerful catalyst for economic growth – creating employment, attracting foreign investment and stimulating local businesses."
He reaffirmed DP World's commitment to developing the necessary infrastructure to support this growth.
"Our state-of-the-art logistics hubs like Jebel Ali Port and free trade zones like Jafza – home to more than 930 automotive and spare parts companies – are integral to our global automotive supply chains strategy," bin Damithan added.
This vision aligns with global projections for passenger vehicle sales, which are expected to grow from 94.7 million in 2024 to 109 million by 2030.
Jebel Ali Port's capacity of one million car equivalent units, the development of the world's largest and most advanced car market, spanning 20 million square feet, and the expansion of Mina Al Hamriya underscore DP World's commitment to meeting growing demand and supporting Dubai's D33 Economic Agenda of doubling the size of the economy.
Follow Emirates 24|7 on Google News.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
15 minutes ago
- Arabian Post
Global Trade Finance Gap Targeted by DP World–JPMorgan Deal
Arabian Post Staff -Dubai DP World Trade Finance and JPMorgan have struck an alliance designed to improve working capital availability in emerging economies, responding to an estimated global trade finance shortfall of US $2.5 trillion. The partnership combines DP World's logistics capabilities with JPMorgan's financial services to distribute risk on trade finance deals, ensuring underserved enterprises can access vital credit. The signature transaction under this collaboration financed a leading food company's procurement of cocoa from Côte d'Ivoire, unlocking more than US $70 million in annual sourcing. By investing working capital at scale, the deal bolstered local supply chains and stimulated financial flows in a region frequently sidelined by banks due to weak credit data. ADVERTISEMENT Raj Jit Singh Wallia, Board Member at DP World Trade Finance, emphasised the structure of the model: 'By leveraging risk‑sharing mechanisms and combining them with logistics in one ecosystem, we reduce the overall credit risk profile and enhance liquidity in emerging markets'. His comments highlight DP World's strategy to fuse its global infrastructure with financing support, catalysing smoother transactions across regions including Sub‑Saharan Africa and Central Asia. James Fraser, Global Head of Trade & Working Capital at JPMorgan, noted that the bank's participation allows the pair to 'offer innovative financing solutions that provide working capital to businesses while mitigating risk through DP World's expertise'. Fraser added the partnership seeks to expand structured trade finance offerings in key emerging markets, aligning with JPMorgan's wider corporate strategy of fostering inclusive global commerce. The global trade finance deficit disproportionately impacts small‑ and mid‑sized enterprises in developing markets. Traditional lenders often abstain from financing these firms due to limited credit histories. The DP World–JPMorgan model directly addresses this, using logistics data and institutional backing to underwrite financing where conventional metrics fall short. Experts say such initiatives are gaining traction. Trade finance innovators like fintech firms Wisers and Drip Capital have already used data analytics and invoice financing to support SMEs in India, Mexico and the United States. DP World's initiative mirrors this trend but at a larger scale by leveraging its global footprint alongside JPMorgan's capital. Industry analysts observe that although supply chain disruptions—triggered by geopolitical events and climate‑related risks—persist, access to credit remains a primary bottleneck for sustained trade growth. Finance‑logistics alliances offer one solution, but scalability and consistency depend on transparent data-sharing and regulatory cooperation in host countries. Regulators in major markets are taking note. Some central banks in Africa and Central Asia have pledged to promote digitised trade documentation and credit scoring tools, easing risk assessments for financiers. While DP World and JPMorgan refrain from naming future markets, signals suggest possible pilot expansions into Southeast Asia and Latin America. A senior trade economist noted that combining logistics visibility with credit issuance 'can de-risk deals that would otherwise be considered too small or opaque for global banks'. In such models, DP World's shipment tracking and trade flow datasets underpin underwriting, while JPMorgan's funds back the exposure. Critics argue that deeper structural obstacles remain: SMEs require improvements in digital infrastructure, regulatory certainty, and legal frameworks before enduring scaled lending becomes viable. Risk pooling alone may not overcome entrenched informality in supply chains. Nevertheless, proponents suggest that DP World's ecosystem model could serve as a blueprint for other logistics companies to co‑finance trade flows. As global trade recovers from pandemic‑related disruptions and realigns with new geopolitical realities, mechanisms enabling more equitable trade inclusion are gaining importance. With its pre‑existing port and inland logistics network, DP World offers JPMorgan market penetration and risk diversification, while the bank adds financial credibility.
Zawya
3 hours ago
- Zawya
DP World, Mawani inaugurate $800mln terminal to boost global trade connectivity
DP World and Saudi Ports Authority (Mawani) launched the South Container Terminal at Jeddah Islamic Port, supporting DP World's SAR 3 billion ($800 million) expansion and development plans. The program aims to upgrade the terminal and enhance Saudi Arabia's position as a leading global hub connecting trade routes across Asia, Africa and Europe, according to Emirates News Agency (WAM). The three-year project transformed South Container Terminal into one of the region's most advanced and sustainable container terminals. This is in addition to more than doubling the capacity from 1.80 million twenty-foot equivalent units (TEUs) to 4 million TEUs. Under a 30-year Build-Operate-Transfer (BOT) agreement, the initiative also includes future capacity of 5 million TEUs, with additional ship-to-shore equipment to be deployed amid growing demands. Sultan Ahmed bin Sulayem, DP World Group's Chairman and CEO, said: 'This expansion builds on our 25-year legacy in Jeddah and reinforces our commitment to driving trade growth in the region. With this modernized terminal, we are enhancing efficiency, improving supply chain resilience and creating new trade opportunities for the Kingdom and beyond for decades to come.' With completion scheduled for the second quarter (Q2) of 2026, the latest expansion backs Saudi Arabia's Vision 2030 goals of fostering trade connectivity and economic diversification. The terminal's modernization integrates advanced automation and digitalization to enhance operational efficiency, with smart systems reducing gate transaction times from two minutes to just 10 seconds. Automated and electrified yard cranes were deployed, along with an expanded fleet of quay cranes that will expand from 14 to 17 by the end of 2025, reaching 22 as the terminal scales up to 5 million TEUs. In the same vein, DP World is developing a facility for inspecting up to 75 reefers at one time, the biggest such port-centric facility in the Kingdom. The terminal spans a total quay length of 2,150 meters, including a deep-water quay with an 18-meter depth, capable of accommodating up to five ultra-large container vessels simultaneously. Adjacent to the terminal, DP World is investing in the 415,000 square meter Jeddah Logistics Park, offering warehousing, distribution and freight forwarding services. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
4 hours ago
- Zawya
DP World, JP Morgan in deal to boost trade finance availability
DP World Trade Finance and JP Morgan are collaborating to improve access to working capital in emerging markets, where supply chain disruptions and limited credit continue to hinder trade. The deal comes at a time when the world is facing a $2.5 trillion global trade finance gap, hindering the growth of global trade and impacting businesses worldwide. Many businesses are underserved by traditional financial institutions due to limited data on their creditworthiness, making it challenging for businesses to secure affordable credit, said DP World Trade Finance in its statement. This collaboration aims to address this gap and enables both companies to share the risk on trade finance transactions, it stated. The first transaction supported a leading global food company in procuring cocoa from Ivory Coast, one of the world's most important agri-export regions. This collaboration unlocked over $70 million in annual procurement opportunities for the client, and brought significant value into an emerging economy like Ivory Coast, it stated. Raj Jit Singh Wallia, Board Member, DP World Trade Finance, said: "This is a significant step in our mission to bridge the global trade finance gap and help businesses tap into new sources of funding. By leveraging risk-sharing mechanisms and combining them with logistics in one ecosystem, we reduce the overall credit risk profile and enhance liquidity in emerging markets." "This is one of many transactions stemming from our collaboration with JP Morgan. As regions like Central Asia and Sub-Saharan Africa continue to grow, we anticipate our work with JP Morgan will continue expanding into new markets," he added. James Fraser, Global Head of Trade & Working Capital, said: "At JP Morgan, we are committed to supporting global trade. Our collaboration with DP World Trade Finance allows us to offer innovative financing solutions that provide working capital to businesses while mitigating risk through DP World's expertise." "Looking ahead, we are excited to work together to explore and broaden access to structured trade finance in pivotal markets through innovative financial frameworks, he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
