Wednesday, February 8, 2017

DP World Reports Freight Volumes Handled Last Year Up as TEU Numbers Rise Globally

Expected to Increase Further in 2017 as New Facilities Come Up to Speed
Shipping News Feature
WORLDWIDE – Global port operator DP World has released figures for freight handled in their facilities in 2016 that show that the company has enjoyed an increase in the amount of cargo that has passed through their ports following the trend we have previously reported as global tonnages of freight carried by water have shown an upswing in the past year.

DP’s ports 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% year-on-year on a reported basis, and 2.2% on a like-for-like basis, which compares favourably to the industry estimated growth of 1.3% for 2016.

In the fourth quarter, gross reported volumes grew by 6.0% year-on-year driven by strong growth in Asia Pacific and Europe. DP ports in the UAE handled 3.7 million TEU in the last quarter of 2016 down marginally by 0.7% year-on-year. The Americas and Australia region delivered a broadly stable volume performance during this period. Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem 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.

“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.”

Photo: Another box vessel offloads at DP World’s London Gateway deep water port on the River Thames.