Global Trade Recovery Pushes DP World’s Volumes Up

Image Courtesy: DP World

Dubai-based terminal operator DP World Limited saw its volumes rise on the back of a recovery of global trade in 2017.

Third quarter growth rates were at 13.5% year-on-year on a reported basis, ahead of second quarter growth and Drewry Maritime’s upgraded industry estimate of 5.5% throughput growth in 2017.

In the first nine months of the year, the company handled 52.3 million TEU across its global portfolio of container terminals, representing a growth of 10% year-on-year in gross container volumes.

Global trade outlook improved significantly in 2017 with the World Trade Organization recently upgrading trade growth from 2.4% to 3.6% in 2017 and all three DP World regions saw third quarter growth rates accelerate even more than the second quarter of 2017, particularly the company’s terminals in Middle East & Africa, Europe and the Americas. The UAE handled 11.6 million TEU in the first nine months of 2017, growing 4.6% year-on-year.

At a consolidated level, DP World’s terminals handled 27.3 million TEU during the nine-month period, a 24.2% improvement in performance on a reported 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.

“The recovery of global trade in 2017 has outperformed previous expectations and we have seen significant upward revisions by economists and industry experts. Benefitting from the improved trading environment and market share gains from the new shipping alliances, our global portfolio continues to deliver ahead-of-market growth and this across all three regions,” Sultan Ahmed Bin Sulayem, DP World Group Chairman and Chief Executive Officer, said.

“We have seen an acceleration of growth rates in the third quarter as we employ the right strategy and the relevant deep-water capacity in the key markets,” Bin Sulayem added.

During the third quarter, DP World added 1.5 million TEU of new capacity in Jebel Ali’s Terminal 3 (T3) and 0.5 million TEU in Prince Rupert, Canada.

“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,” Bin Sulayem said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Maritime Information Warfare 2017

Maritime Information Warfare will focus on the growing need for navies to develop their information exploitation capabilities…

read more >

INTERNATIONAL GREEN SHIPPING AND TECHNOLOGY SUMMIT

The Summit will gather key marine experts and companies around the globe which have a big influence in the industry…

read more >

The CWC 18th Annual World LNG Summit & Awards Evening

The CWC World LNG Summit will continue to give you access to premium networking opportunities as it brings together the who’s who…

read more >

Marintec China 2017

The largest maritime event in Asia Pacific, Marintec China connects maritime professionals from the entire shipbuilding supply chain together.

Over the years, Marintec China has grown to reflect the size and importance of the Asian maritime market. 2015 event is another record-breaking edition with the largest exhibition area and the highest number of industry professionals attending ever. The encouraging figures proven that China remains one of the major shipbuilding nations and Marintec China has been the most authoritative platform in Asia.

With the maritime industry facing great opportunities but also many challenges, it is important for the industry to connect and engage more to ultimately win new business in globally-significant markets. A visit to Marintec China is a great way to learn about the latest technology and innovation of the supply industry, a platform for industry professional to meet face to face, make connection and do business.

Marintec China is poised to be the definitive event and is undoubtedly a must-attend for all involved in the maritime industry.

Marintec China will be held from 5 to 8 December 2017 at the Shanghai New International Expo Centre in Shanghai, China and continue its dedication to serve as the “LEADING” platform “CONNECTING” the community and “STRENGTHENING” the maritime industry.

Marintec China offers the perfect opportunity for companies serving the maritime market to showcase their innovations, products and services to a wide audience. A platform for face to face meetings in business, creating new relationships and consolidating existing ones.

More info

read more >