Gross container volumes handled by DP World have grown to 16.4 mill. TEU in the first quarter of 2017. Throughput at UAE terminals has stabilised.
That represents a 5.7 % growth in the first quarter year-on-year on a reported basis, and 5.0% on a like-for-like basis, »well ahead [ds_preview]of the industry estimate of 2.6% throughput growth for 1Q2017,« as DP World noted.
According to the terminal operator the first quarter witnessed a steady start to the year and all three regions delivered growth, especially the terminals in Europe and the Americas. UAE also stabilised and handled 3.7 mill. TEU, growing 1.8% year-on-year in 1Q2017.
At a consolidated level, DP World’s terminals handled 8.7 mill. TEU during the first quarter , a 19.9% improvement in performance on a reported basis and up 1.6% year-on-year on a like-for-like basis. Reported consolidated volume in the Asia Pacific and Indian Subcontinent region was boosted by the consolidation of Pusan (South Korea) at the end of 2016.
Well placed to meet 2017 market expectations
Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented:
»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.«
He added: »We are pleased to see volumes recovering in the Americas while our new terminals in Europe continue to deliver growth. Encouragingly, UAE volumes have stabilised and as we move 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.«
Bin Sulayem also stressed the company would maintain a focus on »investing in relevant capacity« to ensure DP World remains the »port operator of choice across geographies.« He sees the business well placed to meet full year 2017 market expectations.
