By Jite Eriabie
Dubai-based terminal operator DP World has reported record container volumes of 70 million for 2017, beating analyst expectations.
This was a jump of 10.1 percent year-on-year on a reported basis and 9.7 percent on a like-for-like basis, ahead of Drewry Maritime’s global container throughput growth estimate of 6 percent for 2017.
In the fourth quarter, the global portfolio grew 10.3 percent year-on-year on a reported basis and 9.9 percent on a like-for-like basis.
The company said that there was a “consistent performance across all three DP World regions.” Moreover, DP World saw “particularly strong contributions” from its terminals in Europe, Americas and Middle East and Africa. The UAE handled 15.4 million TEU in 2017 up by 4 percent year-on-year.
At a consolidated level, DP World’s terminals handled 36.5 million TEU in 2017, a 24.7 percent improvement in performance on a reported basis and up 6.2 percent year-on-year on a like-for-like basis.
As explained, reported consolidated volume in the Asia Pacific and Indian Subcontinent region was boosted by the consolidation of Pusan 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… 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,” Sultan Ahmed Bin Sulayem, DP World’s Chairman and CEO, commented.
“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,” he added.
“Given the strong volume performance of our portfolio, we are well placed to meet full year 2017 market expectations,” Bin Sulayem concluded.
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