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22 May 2024

DP World reports 7.3% gross volume growth in Q1 2018

By Wam

DP World Limited handled 17.6 million twenty-foot equivalent units, TEU, across its global portfolio of container terminals in the first quarter of 2018, with gross container volumes growing by 7.3 percent year-on-year on a reported basis, and 8.4 percent on a like-for-like basis, well ahead of Drewry Maritime’s industry estimate of 4.6 percent global throughput growth for the first quarter of 2018.

In a press statement, DP World stated that the first quarter witnessed a continuation of the recovery in global trade and all three regions delivered growth, especially in its terminals in Europe, Middle East and Africa and Australia. The UAE continues to deliver stable growth and handled 3.8 million TEU, growing 2.9 percent year-on-year in Q1 2018, it added.

At a consolidated level, DP World terminals handled 9.2 million TEU during the first quarter of 2018, a 6.6 percent improvement in performance on a reported basis and up 6.8 percent year-on-year on a like-for-like basis.

Commenting on the results, DP World Group Chairman and Chief Executive Officer, Sultan Ahmed bin Sulayem, said, "Following a strong year for the global container market in 2017 with peak levels since 2011, our portfolio has had an encouraging start to 2018 delivering ahead-of-market growth. The robust performance was delivered across all three regions, which once again demonstrates that we have the relevant capacity in the right markets."