Dubai-based terminal operator DP World has announced a record volume of just over 70 million TEU across its global portfolio of container terminals in 2017, representing a 10.1% growth compared to the same period 2016.
On a like-for-like basis, DP World said gross container volumes grew by 9.7%, beating Drewry Maritime’s global container throughput growth estimate of 6% for 2017.
In the fourth quarter, DP World’s 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 TEU in 2017 up by 4.0% year-on-year.
At a consolidated level, DP World’s terminals handled 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,” commented Group Chairman and Chief Executive Officer 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.
“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,” Sultan Ahmed Bin Sulayem.