DP World’s box volumes rise in Q1

The container terminal operator handled 16.4 million TEUs across its global portfolio during the quarter, 3.7 million TEUs of which were handled at terminals in the United Arab Emirates.    Dubai-based container terminal operator DP World Ltd. handled 16.4 million TEUs across its global portfolio during the first quarter of 2017.
   Gross container volumes grew 5.7 percent year-over-year on a reported basis, and 5 percent on a like-for-like basis, ahead of the industry estimate of 2.6 percent growth, the company said.
   Like-for-like gross container volumes do not include figures from Yarimca, Turkey; Saint John, Canada; and Berbera, Somaliland.
   The United Arab Emirates (UAE) handled 3.7 million TEUs, growing 1.8 percent year-over-year during the first quarter.
   “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,” DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said.
   All three of DP World’s classified regions – Asia Pacific and the Indian Subcontinent; Europe, the Middle East and Africa; and the Americas and Australia – experienced an increase in container volumes for the quarter compared to the corresponding 2016 period.
   “We are pleased to see volumes recovering in the Americas while our new terminals in Europe continue to deliver growth,” Bin Sulayem added. “Encouragingly, UAE volumes have stabilized 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.”