DP World handles record cargo volume of 70 million TEU, posts 10.1% growth
February 7, 2018: DP World handled record 70.1 million TEUs of cargo across its global portfolio of container terminals during 2017, registering a growth in its gross container volumes by 10.1 percent year-on-year, and 9.7 percent on a like-for-like basis, ahead of Drewry Maritime’s global container throughput growth estimate of six percent for 2017.
During the fourth quarter, the global portfolio grew 10.3 percent year-on-year on a reported basis, and 9.9 percent on a like-for-like basis with consistent performance across all three DP World regions, and particularly due to strong contributions from its terminals in Europe, Americas and Middle East & Africa.
Its UAE terminal handled 15.4 million TEUs of cargo in 2017, up by four percent year-on-year.
At a consolidated level, DP World terminals handled 36.5 million TEUs of cargo in 2017, registering a jump of 24.7 percent on a reported basis, and up by 6.2 percent year-on-year on a like-for-like basis.
It’s reported consolidated volume in the Asia Pacific and the Indian Subcontinent was boosted by the consolidation of Pusan (South Korea) during December 2016.
Sultan Ahmed Bin Sulayem, group chairman and chief executive officer of DP World said: “The improvement in the trading environment and performance across all three regions has helped our global portfolio to clock growth in 2017. Over the years, we have deployed the relevant deep-water capacity in key markets, focusing on a diversified portfolio, which continues to benefit us from the recovery in the global trade.”
“We witnessed a stable performance in the UAE region as volumes grew during the fourth quarter of 2017 amidst uncertainty in the region and tougher year-on-year comparable. The performance across our other terminals in the Middle East and Africa remained strong, along with Europe and the Americas,” said Sulayem.
“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 aligning capacity in line with the demand. Given the strong volume performance of our portfolio, we are well placed to meet full year market expectations of 2017,” said Sulayem.