DP World handles 35.8 mn TEUs in Q2; Africa, Asia Pacific, Indian subcontinent drive growth
In the first half of 2019, DP World has handled 35.8 million TEUs (twenty-foot equivalent units) across its global portfolio of container terminals, w
July 24, 2019: In the first half of 2019, DP World has handled 35.8 million TEUs (twenty-foot equivalent units) across its global portfolio of container terminals, with gross container volumes growing by 0.5 percent year-on-year on a reported basis and 0.5 percent on a like-for-like basis.
The Asia Pacific, Indian subcontinent and Africa showed a strong performance in Q2 2019, but weaker volumes in the UAE (United Arab Emirates) and Australia offset this trend.
At a consolidated level, our terminals handled 19.5 million TEUs during the first half of 2019. Consolidated volumes in Q2 2019 grew by 10.6 percent on a reported basis but down 0.6 percent on a like-for-like basis. The strong reported growth in Americas and Australia region is due to the consolidation of Australia and acquisition of Pulogsa which consists of two terminals in Chile. Pulogsa operates the Puerto Central port in San Antonio and Port of Lirquen in southern Chile.
| Gross Volume‘000 TEU | 2Q 2018 | 2Q 2019 | % Growth (like for like) | 1H 2018 | 1H 2019 | % Growth (like for like) |
|---|---|---|---|---|---|---|
| Asia Pacific & Indian Subcontinent | 7,908 | 8,234 | 4.1% ( 7.2%) | 15,621 | 16,246 | 4.0% ( 5.5%) |
| Europe, Middle East and Africa* | 7,873 | 7,740 | -1.7% (-1.6%) | 15,591 | 15,138 | -2.9% (-2.5%) |
| Americas & Australia | 2,248 | 2,346 | 4.4% (-6.3%) | 4,408 | 4,428 | 0.4% (-6.7%) |
| Total Group | 18,029 | 18,320 | 1.6% ( 1.6%) | 35,620 | 35,811 | 0.5% (0.5%) |
DP World Group chairman and CEO Sultan Ahmed Bin Sulayem, said, "In line with our expectations, we have delivered a broadly stable volume performance in the first half of 2019. Encouragingly, despite uncertainty from the trade war, we have seen robust volumes in the Asia Pacific and Indian Subcontinent, while growth in Africa remains strong. In contrast, the UAE and Australia volumes have been soft due to a loss of lower-margin cargo and challenging market conditions. However, we expect a more stable throughput performance in the UAE for the second half of the year. On our broader portfolio, we have made good progress in strengthening our product offering, allowing us to enable trade and connect directly with end customers to deliver a range of logistics solutions. Our near-term focus is on integrating our recent acquisitions, managing costs and disciplined investment to cement DP World's position as the trade partner of choice."