Tuesday, July 25, 2017

DP World Reports 10.7% Gross Volume Growth in Freight Handled for 2Q 2017

Recovery of World Trade Sees Port Operator Boost Loads
Shipping News Feature
WORLDWIDE – DP World handled 34 million 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% year-on-year on a reported basis and 7.7% on a like-for-like basis, with second quarter growth rates accelerating to 10.7% year-on-year on a reported basis and 10.4% on a like-for-like basis.

The first half of 2017 witnessed an improvement in global trade and all three DP World regions saw growth rates accelerate in the second quarter of 2017, particularly their terminals in Europe and the Americas. The UAE handled 7.7 million TEU in the first half of 2017, growing 4.3% year-on-year, implying a 2Q 2017 growth of 6.6%. Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented:

“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, 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 full year 2017 market expectations.”