DP World has announced a 2.2% increase in gross container volumes across its worldwide portfolio on a like-for-like basis in 2016.
The organisation experienced a small decrease in volumes at its Jebel Ali headquarters in Dubai, but this was offset by growth at its European and Asian operations.
DP World handled 63.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the full year of 2016, with gross container volumes.
In the fourth quarter, gross reported volumes grew by 6% year-on-year driven by strong growth in Asia Pacific and Europe.
UAE handled 3.7 million TEU in 4Q2016 down marginally by 0.7% year-on-year. The Americas and Australia region delivered a broadly stable volume performance during this period.
The group’s chairman and CEO, Ahmed Bin Sulayem, admitted that the company had faced “challenging market conditions, particularly at our flagship Jebel Ali Port”, but said that its portfolio is growing above the market average.
“We will continue to maintain capital expenditure discipline by bringing on capacity in line with demand, while focusing on targeting higher margin cargo, improving efficiencies and managing costs to drive profitability,” he added.
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