Saturday , 25 May 2019
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DP World continues strong volume growth

DP World’s throughput in the first three quarters of 2017 has increased by 9.6% on a like-for-like basis over the previous year.

This is greater than the industry average with Drewry Maritime currently forecasting 5.5% throughput growth in 2017.

Growth in the third quarter at 13.3% on a like-for-like basis, even greater than in the first three quarters combined.

DP World CEO Sultan Ahmed Bin Sulayem said: “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. 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.

“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.”

“During the third quarter, we added 1.5m teu of new capacity in Jebel Ali (UAE) Terminal 3 (T3) and 0.5m teu 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.”

“We expect our portfolio’s volume growth to continue to outperform the market and given the encouraging performance so far, we remain well placed to meet full year 2017 market expectations.”