DP World reports 10.1 per cent volume growth in 2017

DP WorldDP World’s operation at Jebel Ali port in the UAE. (Image source: DP World)DP World Limited handled 70.1mn twenty-foot equivalent units (TEU) across its global portfolio of container terminals in 2017

The company has further reported that its gross container volumes grow by 10.1 per cent year-on-year on a reported basis and 9.7 per cent on a like-for-like basis, ahead of Drewry Maritime’s global container throughput growth estimate of six per cent for 2017.

In Q4 2017, the global portfolio grew 10.3 per cent year-on-year on a reported basis and 9.9 per cent on a like-for-like basis. According to the company, this is mainly because of the consistent performance across all three DP World regions and contributions from terminals in Europe, Americas and Middle East and Africa.

The UAE handled 15.4mn TEU in 2017, up by four per cent year-on-year, said the company.

“At a consolidated level, our terminals handled 36.5mn TEU in 2017, a 24.7 per cent improvement in performance on a reported basis and up 6.2 per cent year-on-year on a like-for-like basis,” said DP World.

“Reported consolidated volume in the Asia Pacific and the Indian Subcontinent region was boosted by the consolidation of Pusan in December 2016,” the company added.

Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, noted that the company experienced stable performance in the UAE as volumes continue to grow in the Q4 2017 amidst uncertainty in the region and tougher year-over-year comparables.

“The performance across our other terminals in the Middle East and Africa remains strong in addition to Europe and the Americas,” he added.

“As we look ahead into 2018, we expect to continue to grow ahead of the market and see increased contributions from our new developments. We continue to seek opportunities in complementary sectors in the global supply chain and will maintain capital expenditure discipline by bringing on capacity in line with demand,” Sulayem concluded.

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