DP World grows volumes 3.2% in 2016

The Dubai-based port terminal operator handled 63.7 million TEUs at its container terminals during the year, a 2.2 percent increase from 2015 on a like-for-like basis, according to a statement from the company.    Port terminal operator DP World handled 63.7 million TEUs at its container terminals during the year in 2016, a 3.2 percent increase from 2015 on a reported basis and a 2.2 percent increase on a like-for-like basis, according to a statement from the company.
   Like-for-like gross container volumes exclude throughput at DP World’s facilities in Yarimca, Turkey; Stuttgart, Germany; Antwerp Inland, Belgium; and Prince Rupert, Canada.
   The company said the volume growth was largely driven by strong performance at its terminals in the Asia Pacific, Europe and the Indian subcontinent.
   DP World noted its growth “compares favorably” with an estimated overall industry growth rate of 1.3 percent in 2016.
   “Despite the challenging market conditions, particularly at our flagship Jebel Ali Port, our portfolio continues to deliver ahead-of-market growth, which once again demonstrates the benefits of operating a globally diversified portfolio,” DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said of the results.
   “We are pleased to see volumes stabilising in the UAE, and as we look ahead into 2017, we expect our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) to drive growth in our portfolio,” he added. “We will continue to maintain capital expenditure discipline by bringing on capacity in line with demand, while focusing on targeting higher margin cargo, improving efficiencies and managing costs to drive profitability.”