The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Dubai / WAM
DP World Limited has reported that it handled 52.3 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first nine months of 2017.
Gross container volumes grew by 10.0 percent year-on-year on a reported basis and 9.6 percent on a like-for-like basis, with the third quarter growth rates accelerating to 13.5 percent year-on-year on a reported basis and 13.3 percent on a like-for-like basis, ahead of second quarter growth and Drewry Maritime’s upgraded industry estimate of 5.5 percent throughput growth in 2017.
Global trade outlook improved significantly in 2017 with the World Trade Organisation recently upgrading trade growth from 2.4 percent to 3.6 percent in 2017, and all three DP World regions saw third quarter growth rates accelerate even more than the second quarter of 2017, particularly the terminals in Middle East and Africa, Europe, and the Americas. The UAE handled 11.6 million TEU in 9M 2017, growing 4.6 percent year-on-year.