DP World reports positive growth in the Middle East and Africa in Q1
Shipping - DP World has announced that its container volumes grew 5.7 percent year on year in the first quarter of 2017, reaching a total of 16.4 million TEU for the period. Asian and American facilities led the way for volume growth.
Apr 29, 2017: DP World has announced that its container volumes grew 5.7 percent year on year in the first quarter of 2017, reaching a total of 16.4 million TEU for the period. Asian and American facilities led the way for volume growth.
The first quarter witnessed a steady start to the year as all three regions reporting good growth, especially terminals in Europe and the Americas. UAE also stabilised and handled 3.7 million TEU, growing 1.8 percent year-on-year.
At a consolidated level, the terminals handled 8.7 million TEU, a 19.9 percent improvement in performance and up 1.6 percent year-on-year. 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.
Sultan Ahmed Bin Sulayem, group chairman and chief executive officer, DP World, 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.
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.”