DP World handles 17.6mn TEUs globally in Q1 2018
DP World Limited handled 17.6 million twenty-foot equivalent units (TEUs) across its global portfolio of container terminals in the first quarter of 2018, with gross container volumes growing by 7.3% year-on-year on a reported basis, and 8.4% on a like-for-like basis, well ahead of Drewry Maritimes industry estimate of 4.6% global throughput growth for Q1 2018.
According the official company statement, the first quarter witnessed a continuation of the recovery in global trade and all three regions delivered growth, especially terminals in Europe, Middle East and Africa, and Australia. The UAE continues to deliver stable growth and handled 3.8 million TEU, growing 2.9% year-on-year in Q1 2018.
At a consolidated level, DP World’s terminals handled 9.2 million TEU during the first quarter of 2018, a 6.6% improvement in performance on a reported basis and up 6.8% year-on-year on a like-for-like basis.
DP World Group chairman and chief executive officer, Sultan Ahmed Bin Sulayem, commented: Following a strong year for the global container market in 2017 with peak levels since 2011, our portfolio has had an encouraging start to 2018 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.
We are pleased to see volumes recover in Australia while our terminals in Europe, Middle East and Africa continue to deliver strong growth and the UAE continues to stabilise. While the trade environment may appear more benign, geopolitical headwinds in some regions continue to pose uncertainty. Nevertheless, we still expect to grow ahead of the market and see increased contributions from our new investments.
The first quarter volume performance demonstrates that our portfolio is well positioned to deliver growth, and our continued focus on delivering operational excellence as well as disciplined investment should ensure that we remain the port operator of choice across geographies.