The Dubai-based port terminal operator handled 52.3 million TEUs across its global portfolio during the first nine months of 2017, signaling a recovery in global trade, said DP World Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem.
Dubai-based port terminal operator DP World Limited handled 52.3 million TEUs across its global portfolio of container terminals in the first nine months of 2017, and increase of 10 percent year-over-year on a reported basis and 9.6 percent on a like-for-like basis, according to recent data.
Third quarter growth rates accelerated to 13.5 percent year-over-year on a reported basis and 13.3 percent on a like-for-like basis, the company said. DP World noted that capacity growth at the company’s terminals is well ahead of second quarter growth and Drewry Maritime’s upgraded industry estimate of 5.5 percent throughput growth in 2017.
All three DP World regions saw third quarter growth rates accelerate even more than the second quarter of 2017, particularly its terminals in Middle East & Africa, Europe and the Americas.
Container volumes in consolidated terminals – those where DP World has control as defined under IFRS – increased significantly in Asia Pacific and India Subcontinent for the third quarter, from 1.2 million TEUs to 2.5 million TEUs – a 112 percent increase. 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, said DP World. Europe, the Middle East and Africa saw a 10.4 percent increase in container volumes during the third quarter while the Americans and Australia saw an 18 percent increase.
“The recovery of global trade in 2017 has outperformed previous expectations and we have seen significant upward revisions by economists and industry experts. Benefiting from the improved trading environment and market share gains from the new shipping alliances, our global portfolio continues to deliver ahead-of-market growth and this across all three regions,” said DP World Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem. “We have seen an acceleration of growth rates in the third quarter as we employ the right strategy and the relevant deep-water capacity in the key markets.”
DP World noted that the UAE handled 11.6 million TEUs in year-to-date, an increase of 4.6 percent year-over-year. “We are pleased to see 3Q2017 UAE volumes continue to grow despite uncertainty in the region and the performance across our terminals in the Middle East & Africa, Americas and Europe remains strong,” said the Sultan. “During the third quarter, we added 1.5 million TEUs of new capacity in Jebel Ali (UAE) Terminal 3 (T3) and 0.5 million TEUs in Prince Rupert (Canada) which provides us room for continued growth in these key markets. We continue to seek growth opportunities in Latin America, Africa and Indian subcontinent where there remains significant structural growth potential,” he continued.
Furthermore, DP World expects its portfolio volume growth to continue to outperform the market and to remain well placed to meet full year 2017 market expectations, the port operator stated.
DP World sees Q3 global container volumes jump 13.3%
