Thursday , 23 November 2017
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DP World posts 8% growth in first half of 2017

DP World handled 34m teu across all its terminals in the first half of 2017, an 8.2% year-on-year growth, while second quarter rates shot up by 10.7% year-on-year (YOY).

All three DP World regions, Asia Pacific & India subcontinent, Americas & Australia and Europe, Middle East & Africa, experienced growth.

Europe and the Americas posted significant growth of 9% and 12% respectively, while the UAE handled 7.7m teu in the first half of 2017, growing 4.3% YOY.

The operator registered a 10.4% in like-for-like growth. This figure does not include container volumes at DP World’s terminals in Saint John in Canada, Limassol in Cyprus and Berbera in Somaliland, which all opened within the last 12 months.

DP World group chairman and CEO Sultan Ahmed Bin Sulayem said: “Our portfolio has delivered ahead-of-market growth benefitting from the improved trading environment in 2017 and market share gains from the new shipping alliances, driving volumes in the second quarter.

“We are pleased to see our terminals in the Americas and Europe continue to deliver growth. Encouragingly, UAE volumes have improved and we continue to expect our portfolio’s volume growth to outperform the market.

“Given the encouraging first half performance, we remain well placed to meet full year 2017 market expectations.”

Of the terminals that the International Financial Reporting Standards (IFRS) recognise to be controlled by DP World YOY growth was up 4.7%, to 17.9 m teu. These volumes were boosted by the consolidation of Pusan in South Korea at the end of 2016.