DP World: Container volume growth slows to 1.9% in 2018

DP World increases capacity of Jebel Ali terminal

PHOTO CREDIT: SHIPS & PORTS archive

Dubai-based container port operator DP World handled 71.4 million TEUs across its global portfolio of container terminals in the full year of 2018, with gross container volumes growing by 1.9% year-on-year on a reported basis and 2.9% on a like-for-like basis.

The company’s Asia Pacific & Indian Subcontinent terminals saw a container throughput of 32.9 million TEUs last year, a rise of 3.2% year-on-year on a like-for-like basis.

In addition, terminals in Europe, the Middle East and Africa handled 29.5 million TEUs, and terminals in America and Australia recorded 9 million TEU, up by 3.1% and 0.9%, respectively.

The UAE handled 15 million TEU in 2018, down 2.7% year-on-year.

At a consolidated level, DP World’s terminals handled 36.8 million TEU in 2018, a 0.8% improvement in performance on a reported basis and up 1.4% year-on-year on a like-for-like basis.

Commenting on the volume, the Group Chairman/Chief Executive Officer, of DP World, Sultan Ahmed Bin Sulayem said, “Our Europe and Americas portfolio saw strong growth with continued ramp-up in London Gateway (UK), Yarimca (Turkey) and Prince Rupert (Canada), while performance in Africa remains robust driven by Dakar (Senegal) and Sokhna (Egypt). In the UAE, the softer volumes were due to the loss of low-margin throughput, where we remain focused on high margin cargo and maintaining profitability.

“In 2018, we have made good progress in strengthening our product offering which will enable us to participate in a wider part of the supply chain and offer smarter long-term solutions to cargo owners. Looking ahead to 2019, we expect our portfolio to continue to deliver growth and our focus remains on delivering operational excellence, managing costs and disciplined investment to remain the trade partner of choice. Given the steady volume performance of our portfolio, we are well placed to meet full year 2018 market expectations.”