DP World throughput in 2017 more than any other time in history
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DP World handled 70.1 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the full year of 2017, a gross container volume growth of 10.1% year-on-year on a reported basis and 9.7% on a like-for-like basis.
DP World therefore beat Drewry Maritime’s global container throughput growth estimate of 6.0% for 2017, and saw the port operator handle more cargo during last year that any other in its history.
“In the fourth quarter, 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 our terminals in Europe, Americas and Middle East & Africa,” DP World said in a statement.
The UAE handled 15.4 million TEU in 2017 up by 4.0% year-on-year.
Those figures include all cargo movements across its more than 60 terminals globally, which inflates the throughput figure as a container is often moved several times during its evacuation from a port.
At a consolidated level, the terminals handled cargo levels closer to 36.5 million TEU 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.
“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,” said group chairman and CEO Sultan Ahmed Bin Sulayem. “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,” he added.
“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.”