DP World posts 3.2pc volume growth in 2016
DUBAI, February 7, 2017
DP World Limited handled 63.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 2016, with gross container volumes growing by 3.2 per cent year-on-year on a reported basis, and 2.2 per cent on a like-for-like basis, which compares favourably to the industry estimated growth of 1.3 per cent for 2016.
In the fourth quarter, gross reported volumes grew by 6 per cent 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 per cent year-on-year. The Americas and Australia region delivered a broadly stable volume performance during this period, the company said.
At a consolidated level, the group's terminals handled 29.2 million TEU during 2016, a 0.4 per cent improvement in performance on a reported basis and down 1.6 per cent year-on-year on a like-for-like basis.
Group chairman and chief executive officer Sultan Ahmed Bin Sulayem said: “Despite the challenging market conditions, particularly at our flagship Jebel Ali Port, our portfolio continues to deliver ahead-of-market growth, which once again demonstrates the benefits of operating a globally diversified portfolio.
“We are pleased to see volumes stabilising in the UAE and as we look ahead into 2017, we expect our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) to drive growth in our portfolio.
“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. Given the resilient volume performance of our portfolio, we are well placed to meet full year 2016 market expectations,” said Bin Sulayem.
DP World operates multiple yet related businesses – from marine and inland terminals, maritime services, logistics and ancillary services to technology-driven trade solutions.
The group has a portfolio of 77 operating marine and inland terminals supported by over 50 related businesses in 40 countries across six continents with a significant presence in both high-growth and mature markets.
It has a dedicated team of over 37,000 employees from 110 countries. Container handling is the company’s core business and generates more than three quarters of its revenue. With its committed pipeline of developments and expansions, the current gross capacity of 79.6 million TEU is expected to rise to more than 100 million TEU by 2020, in line with market demand, the group said. - TradeArabia News Service