DP World Sees Encouraging Start to the Year

Image Courtesy: DP World

Dubai-based port and terminal operator DP World Limited has handled 16.4 million TEU across its global portfolio of container terminals in the first quarter of 2017, with gross container volumes growing by 5.7% year-on-year on a reported basis.

“There are signs of a gradual improvement in the market environment in 2017 and our portfolio has had an encouraging start to the year 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,” Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer, said.

DP World said that the first quarter witnessed a steady start to the year and all three regions delivered growth, especially the company’s terminals in Europe and the Americas. UAE also stabilised and handled 3.7 million TEU, growing 1.8% year-on-year in the first quarter of 2017.

At a consolidated level, DP Worlds’ terminals handled 8.7 million TEU during the first quarter of 2017, a 19.9% improvement in performance on a reported basis. Reported consolidated volume in the Asia Pacific and Indian Subcontinent region was boosted by the consolidation of South Korea’s Pusan at the end of 2016.

Bin Sulayem said that as the company moves through 2017, “we continue to expect our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) to drive growth in our portfolio.”

“Given the encouraging start to the year, we remain well placed to meet full year 2017 market expectations,” Bin Sulayem said.

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