DP World reports 10.7 per cent growth in Q2 2017

DPWorld3The UAE handled 7.7mn TEU in first half of 2017, growing 4.3 per cent year-on-year, implying a Q2 2017 growth of 6.6 per cent. (Image source: DP World)DP World Limited handled 34mn TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first half of 2017, with gross container volumes growing by 8.2 per cent year-on-year on a reported basis and 7.7 per cent on a like-for-like basis

In Q2 2017, the growth rate accelerated to 10.7 per cent year-on-year on a reported basis and 10.4 per cent on a like-for-like basis, ahead of Drewry Maritime’s upgraded industry estimate of four per cent throughput growth in 2017.

The first half of 2017 witnessed an improvement in global trade and all three DP World regions saw growth rates accelerate in the Q2 2017, particularly in DP terminals in Europe and the Americas. The UAE handled 7.7mn TEU in first half of 2017, growing 4.3 per cent year-on-year, implying a Q2 2017 growth of 6.6 per cent.

At a consolidated level, the terminals handled 17.9mn TEU during the first half of 2017, a 22.4 per cent improvement in performance on a reported basis and up 4.7 per cent year-on-year on a like-for-like basis. Reported consolidated volume in the Asia Pacific and Indian Subcontinent region was boosted by the consolidation of Pusan (South Korea) at the end of 2016.

DPWorld2The 2017 first half volumes of DP World.

DP World CEO Sultan Ahmed Bin Sulayem said, “Our portfolio has delivered ahead-of-market growth benefitting from the improved trading environment in 2017 and market share gains from the new shipping alliances, driving volumes in the second quarter. The robust performance was delivered across all three regions, which once again demonstrates that we have the right strategy and the relevant capacity in the key markets.

“We are pleased to see our terminals in the Americas and Europe continue to deliver growth. Encouragingly, the UAE volumes have improved and we continue to expect our portfolio’s volume growth to outperform the market. Given the encouraging first half performance, we remain well placed to meet 2017 market expectations.”

Last month, DP World and Masdar, Abu Dhabi’s renewable energy company, signed an MoU to explore areas of collaboration on clean energy solutions for DP World’s portfolio of ports and freezones in the Middle East and Africa. Masdar will work with DP World to address challenges related to the delivery of sustainable, reliable and cost effective power generation, with a particular focus on areas that are remote or off-grid. Masdar will provide specialist project management services, from concept to implementation, including community projects to support DP World’s operations.

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