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DUBAI / WAM
DP World has handled 16.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2017, with gross container volumes growing by 5.7% year-on-year on a reported basis, and 5.0% on a like-for-like basis, well ahead of the industry estimate of 2.6% throughput growth for Q1 2017.
The first quarter witnessed a steady start to the year and all three regions delivered growth, especially terminals in Europe and the Americas. The UAE also stabilised and handled 3.7 million TEU, growing 1.8% year-on-year in Q1 2017.
At a consolidated level, DPW terminals handled 8.7 million TEU during the first quarter of 2017, 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.
Commenting on the announcement, Group Chairman and Chief Executive Officer, Sultan Ahmed Bin Sulayem, said, “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.