• 2017 October 24 12:33

    DP World reports 13.5% gross volume growth in third quarter of 2017

    DP World Limited handled 52.3 million TEU (twenty - foot equivalent units) across its global portfolio of container terminals in the  first nine months  of 2017, with gross container volumes growing by 10.0 % year - on - year on a  reported basis and  9.6% on a like - for - like 1 basis, with the third quarter growth rates  accelerating to 13.5 % year - on - year on  a reported basis and 1 3.3 % on a like - for - like 2 basis, ahead of second  quarter growth and  Drewry Maritime’s upgraded industry estimate 3 of 5.5% throughput growth  in 2017.

    Global trade outlook improved significantly in 2017 with the World Trade Organization 4 recently  upgrading tr ade growth from 2.4% to 3.6% in 2017 and all three DP World regions saw third  quarter growth rates accelera te even more than  the second quarter of 2017, particularly our  terminals in  Middle East & Africa,  Europe and the Americas.

    The UAE handled  11.6 milli on TEU in  9M 2017, growing  4.6 % year - on - year . At a consolidated 5 l evel, our terminals handled 27.3 mi llion TEU during the first nine months of  2017, a 24.2 % improvement in performance on a reported basis and up 6.2% year - on - year on a  like - for - like 6 basis . 

    Reported consolidated volume in the Asia Pacific and Indian Subcontinent  region was boosted by the consolidation of Pusan (South Korea) at the end of 2016.

    DP World Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem  commented: “ We are pleased to see  3Q2017 UAE volumes continue to grow despite uncertainty in the region  and the performance across  our terminals in the  Middle East & Africa,  Americas and Europe  remains strong.  “During the third quarter, we added 1.5 million TEU of new capacity in Jebel Ali (UAE) Terminal  3 (T3) and 0.5 million TEU in Prince Rupert (Canada) which provides us room for continued  growth in these key markets. We continue to seek growth opportunities in Latin America, Africa  and Indian subcontinent where there remains significant structural growth potential.  “We  expect our portfolio’s volume growth to  continue to  outperform the market and  given the  encouraging performance so far, we  remain well placed to meet full year 2017 market  expectations.”

    About DP World:

    DP World 7 is a leading enabler of global trade and an integral part of the supply chain. DP World operates multiple yet related businesses  – from marine and inland terminals, maritime services, logistics and ancillary services  to technology - driven trade solutions. DP World has a portfolio of 78 operating marine and inland terminals supported by over 50 related businesses  in 40 countries across six continents with a significant presence in both high - growth and mature markets.  Container handling is the company’s core business and generates more than three quarters of its revenue.  In  2016, DP World handled 64 million TEU (twenty - foot equivalent units) across its portfolio. With its  committed pipeline of developments and expansions, the current gross capacity of 84.6 million TEU is  expected to rise to more than 100 million TEU by 2020,  in line with market demand.




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