DP World sees 3.2 percent volume growth in 2016

Feb 07, 2017: DP World has handled 63.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the full year of 2016, with gross container volumes growing by 3.2 percent year-on-year on a reported basis, and 2.2 percent on a like-for-like basis, which compares favourably to the industry estimated growth of 1.3 percent for 2016.

In the fourth quarter, gross reported volumes grew by 6.0 percent year-on-year driven by strong growth in Asia Pacific and Europe.

UAE has handled 3.7 million TEU in Q4 2016 down marginally by 0.7 percent year-on-year. The Americas and Australia region delivered a broadly stable volume performance during this period.

At a consolidated level, our terminals handled 29.2 million TEU during 2016, a 0.4 percent improvement in performance on a reported basis and down 1.6 percent year-on-year on a like-for-like basis, informs the company through a statement.

Sultan Ahmed Bin Sulayem, Group chairman and chief executive officer, commented, “Despite the challenging market conditions, particularly at our flagship Jebel Ali Port, our portfolio continues to deliver ahead-of-market growth, which once again demonstrates the benefits of operating a globally diversified portfolio.”

“We are pleased to see volumes stabilising in the UAE and as we look ahead into 2017, we expect our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) to drive growth in our portfolio.”

“We will continue to maintain capital expenditure discipline by bringing on capacity in line with demand, while focusing on targeting higher margin cargo, improving efficiencies and managing costs to drive profitability. Given the resilient volume performance of our portfolio, we are well placed to meet full year 2016 market expectations.”

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