AD Ports Group has reported a 41 percent year-on-year rise in net profit to AED 653 million ($178 million) in Q1 2026, as revenue increased 25 percent to AED 5.75 billion ($1.57 billion).
EBITDA rose 33 percent year- on-year to AED 1.52 billion ($414 million), while the EBITDA margin improved to 26.4 percent, compared with 24.7 percent in the same period last year.
The group said the performance was driven by organic growth across its Maritime & Shipping and Economic Cities & Free Zones clusters, alongside improved operating leverage, lower finance costs and a stronger contribution from joint ventures and associates.
AD Ports said it maintained uninterrupted services during the quarter despite regional geopolitical disruption, with precautionary business continuity protocols in place.
The group rerouted cargo operations and feeder services to Fujairah Terminals and Khorfakkan Port, while also deploying new land and air bridges, additional warehousing and storage capacity, and regional feeder shipping services.
These new services connect with ports in India, Pakistan and Oman, as well as Red Sea ports and ports in the Upper Arabian Gulf region.
In Maritime & Shipping, container feeder volumes rose 20 percent year-on-year to 871,000 TEUs, supported by increased services and capacity.
The bulk, multipurpose and Ro-Ro vessel fleet reached 63 vessels, compared with 41 in Q1 2025.
In the Ports Cluster, UAE container throughput declined 5 percent year-on-year, while general cargo volumes fell 23 percent.
AD Ports Group said these declines were largely offset by international growth of 17 percent in container throughput and 21 percent in general cargo volumes.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “Faced with rapidly evolving regional developments with global macroeconomic and supply chain implications, AD Ports Group responded decisively in Q1 2026, demonstrating the agility, resilience, and forward-thinking that have underpinned our strong growth over the past two decades.
“Our Q1 performance was robust, with Group Revenue and Net Profit delivering strong double-digit year-on-year growth of 25 percent and 41 percent, respectively.
We acted swiftly to mitigate disruption, elevating the ports in Fujairah and Khorfakkan as alternative gateways for the country and the region, launching contingency feeder shipping services, expanding warehousing capacity, and activating integrated land, rail, and air bridges that will sustain our growth into Q2 and beyond.”
AD Ports Group reported net leverage of 3.9 times, compared with 4.1 times in Q1 2025 and 4.0 times in Q4 2025.
Free cash flow was negative AED 348 million ($95 million) in Q1 2026, due to timing effects and quarterly organic capital expenditure of AED 1.35 billion ($368 million).
The group said it maintains its full-year 2026 guidance for growth, profitability, capital expenditure, cash flow and debt leverage, subject to the evolving regional situation.
Air freight rates stabilize after sharp rises
Global air freight rates were broadly stable last week after two months of steep increases, with the Baltic Air Freight Index edging up 0.4 percent week-on-week and remaining 35.8 percent higher year-on-year, reported London’s Air Cargo Week.
Asia-origin pricing showed mixed momentum.
Rates from Hong Kong and India eased slightly, while China lanes to Europe and the US softened.
Seoul, Taiwan and India routes remained firm on selected Europe-bound services.
European export rates mostly eased after recent gains, with declines on transatlantic lanes to the US and to China, Brazil, Mexico and Australia.
Rates to Japan were flat, while modest increases were seen to India, South Africa and the UAE.
Frankfurt outbound rates dipped 0.7 percent week-on- week, up 13 percent year-on- year.
London Heathrow fell 5.5 percent week-on-week but remained 61.8 percent higher year-on-year.
DP World gains IATA certification in Panama
DP World has secured International Air Transport Association certification for its freight forwarding operations in Panama, reinforcing its end-to-end supply chain capabilities and advancing regional air freight connectivity, reports LA’s GlobeNewswire.
The certification confirms DP World’s Panama-based forwarding business meets IATA global standards for safe, secure and efficient handling of air cargo.
It strengthens compliance and operational excellence across international supply chains.
As part of DP World’s wider logistics network, the approval enables integrated solutions linking air, ocean and inland transport services across regional and global trade corridors.
It builds on recent investment in Panama, including a new customs-bonded warehouse to enhance consolidation, storage and distribution.
DP World also gained IATA certification for air freight services in Brazil last year.
Together, these developments expand flexibility and efficiency for customers across multimodal supply chains.
Manuel Martinez, chief executive of DP World in the Dominican Republic, said the certification reflects the company’s focus on building a reliable and competitive logistics platform across the Americas.
He said aligning operations with IATA standards strengthens support for secure and compliant air cargo solutions.
The certification process included evaluation of operational procedures, infrastructure, safety and security controls, traceability systems and compliance governance.
It confirmed adherence to IATA Resolution 813zz, Resolution 833 and Dangerous Goods Regulations.
DP World’s Panama freight forwarding operation plays a key role in regional connectivity, linking customers to airlines, trade routes and markets across the Americas.
The certification further consolidates its position as a trusted logistics partner within integrated supply chain solutions.
Asia-Latin America reefer growth reshapes trade
The shipping industry is witnessing unprecedented Asia-Latin America reefer capacity growth, reported Al Copilot.
Nearshoring and booming perishables demand have doubled deployed container capacity on the lane to more than two million TEU by early 2025.
Data shows a 20 percent year-on-year capacity increase from 2024 to 2025, underscoring shifts between Asian manufacturing hubs and Latin American markets.
Ocean Network Express introduced larger newbuild vessels on its Asia-West Coast South America service, while Evergreen and Cosco expanded offerings.
The expansion connects ports such as Busan with logistics nodes in Mexico, Colombia and Peru.
Despite capacity injections, carriers raised reefer rates by up to US$1,000 per FEU to stabilise margins.
Key challenges for 2026 include equipment shortages, with Latin America facing deficits of up to 73 percent during peak seasons due to Cape of Good Hope rerouting.
Forwarders remain sceptical about filling continuous newbuild mega-ships, while routing disruptions continue to strain rate stability.
Analysts said the reefer expansion offers immense supply chain opportunities but requires balancing growth against equipment deficits and operational risks.
ONE revises Latin East Coast Europe Express
Ocean Network Express (ONE) has updated its Irish Sea Express (IRX) service rotation as part of efforts to improve network efficiency and service reliability.
The revised structure introduces enhanced European coverage, including a new direct connection between Southampton and Ireland.
Under the new configuration, Southampton will replace Rotterdam on the Dublin and Cork loop.
The updated IRX port rotation will be: Southampton – Dublin Cork – Southampton, alongside Rotterdam – Belfast – Rotterdam.
The change will take effect from late May 2026.
ONE said the adjustment is aimed at strengthening service performance and improving connectivity across key Irish Sea and European markets.
In April, ONE adjusted the rotation of its Latin East Coast Europe Express (LUX) service, removing Felixstowe and southbound calls at Paranaguá as part of measures to enhance schedule reliability and strengthen its network offering.
ONE to spend US$1.2 billion with HD Hyundai
Ocean Network Express (ONE) has signed a US$1.2 billion contract with South Korea’s HD Hyundai Heavy Industries for six 15,900-TEU dual-fuel liquefied natural gas (LNG) ships, reports London’s S&P Global.
The shipbuilder confirmed the deal with independent shipbrokers also verifying the order.
Clarksons said the ships were priced at $203.5 million each, giving a total contract value of over $1.2 billion, a figure confirmed by Hyundai Heavy in a filing to the South Korea stock exchange.
Deliveries will take place between November 2028 and September 2029, with the final vessel due by 30 September 2030.
MB Shipbrokers said discussions had been ongoing for several months before contracts were signed, adding the deal expands ONE’s portfolio of alternative-fuel tonnage.
The order follows an earlier contract for eight 15,900-TEU LNG-powered ships placed with Hyundai Heavy last June with deliveries beginning in 2028.
ONE’s fiscal 2025 results showed an order backlog of 67 ships at the end of March, including 13,000-TEU dual-fuel -ships due next year and 13,800- TEU methanol-ready ships ordered in 2023.
The deal highlights the growing dominance of LNG as a fuel of choice for new vessels.
Sea-web data showed more than 6.4 million TEU of LNG-powered ships are currently on order globally.
ONE joins Evergreen, Cosco Shipping OOCL and Yang Ming in placing new orders this year.
Linerlytica said 1.9 million TEU of capacity were ordered in the first four months of 2026, pushing the global order book to a record 13 million TEU.
It warned over-capacity could hit the market, with more than five million TEU scheduled for delivery in 2028.
Sea-web data showed total capacity on order at 12 million TEU, equal to 36 percent of the in-service fleet.