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| 06 February, 2018

UAE's DP World reports record volume handling in 2017

DP World terminals handled 36.5mln TEUs in 2017, a 24.7% improvement in performance.

Image used for illustrative purpose.
A crane is seen on the quayside at DP World London Gateway container port in Essex, southern England July 30, 2013.
image used for illustrative purposes

Image used for illustrative purpose. A crane is seen on the quayside at DP World London Gateway container port in Essex, southern England July 30, 2013. image used for illustrative purposes

REUTERS/Suzanne Plunkett
DUBAI- DP World Limited handled 70.1 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the full year of 2017, with gross container volumes growing by 10.1% year-on-year on a reported basis and 9.7% on a like-for-like1 basis, ahead of Drewry Maritime’s global container throughput growth estimate of 6.0% for 2017.

In the fourth quarter, a company statement said, the global portfolio grew 10.3% year-on-year on a reported basis and 9.9% on a like-for-like basis with consistent performance across all three DP World regions and particularly strong contributions from terminals in Europe, Americas and Middle East & Africa. The UAE handled 15.4 million TEUs in 2017, up by 4.0% year-on-year.

At a consolidated level, DP World terminals handled 36.5 million TEUs in 2017, a 24.7% improvement in performance on a reported basis and up 6.2% year-on-year on a like-for-like basis. Reported consolidated volume in the Asia Pacific & Indian Subcontinent region was boosted by the consolidation of Pusan, South Korea, in December 2016.

Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer, commented, "Benefitting from the improved trading environment and market share gains, our global portfolio once again delivered ahead-of-market growth in 2017 and has seen strong performance across all three regions. Over the years, we have deployed the relevant deep-water capacity in key markets, focusing on a diversified portfolio which continues to benefit from the recovery in global trade." "We are also pleased to see stable performance in the UAE as volumes continue to grow in the fourth quarter of 2017 amidst uncertainty in the region and tougher year-over-year comparables. The performance across our other terminals in the Middle East & Africa remains strong in addition to Europe and the Americas." "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. Given the strong volume performance of our portfolio, we are well placed to meet full year 2017 market expectations," he said.



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