10.4 C
Hamburg
Sunday, June 8, 2025
Home News DP World reports volume growth

DP World reports volume growth

Dubai, UAE Tuesday 23 October 2018 – DP World Limited handled 53.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first nine months of 2018, with gross container volumes growing by 2.6 % year-on-year on a reported basis and 3.7% on a like-for-like basis.

Gross like-for-like volumes declined by 0.5% in 3Q 2018 due to the tougher year-on-year comparables (3Q 2017 volumes grew 13.5% year-on-year), and softer volumes in the UAE.

The UAE handled 11.3 million TEU in 9M 2018, down -2.1% year-on-year, with 3Q 2018 volumes down -6.7% year-on-year due to the challenging macro environment and loss of lower-margin cargo. Growth in Europe remained robust with strong growth in London Gateway (UK) and Rotterdam (Netherlands).

At a consolidated level, our terminals handled 27.7 million TEU during the first nine months of 2018, a 1.6% improvement in performance on a reported basis and up 2.2% year-on-year on a like-for-like basis.

Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented:

“As highlighted in our first half throughput announcement, we have seen our volume growth decelerate due to the strong prior year performance and general caution in the market given the current uncertainty in global trade. In the UAE, the volume weakness in 3Q 2018 is mainly due to loss of low-margin throughput, where our focus remains on profitable cargo and, while the near term volume outlook in Jebel Ali remains challenging, we have taken measures to maintain profitability.

On our wider portfolio, we have made good progress in strengthening our product offering to play a greater role in the global supply chain as a trade enabler. We continue to focus on delivering operational excellence, managing costs and disciplined investment to remain the port operator of choice. We are also pleased to state that despite the softer volumes, we are on track to meet market expectations.”

 





Latest Posts

Port of Long Beach appoints new managing director of engineering services

The Port of Long Beach has appointed Suzanne Plezia, P.E., as its new Managing Director of Engineering Services, succeeding Sean Gamette, P.E., who announced...

DP World and J.P. Morgan launch partnership

DP World Trade Finance has joined forces with J.P. Morgan to enhance access to working capital across emerging markets, addressing the persistent global trade...

Red Sea shipping traffic rebounds as Houthis limit targets

Red Sea maritime traffic has increased by 60% to approximately 36–37 vessels per day since August 2024, as Reuters reported. However, it still falls short...

CMA CGM applies new surcharge from Far East to West Africa

French ocean carrier CMA CGM has announced a peak season surcharge (PSS) for shipments from Northeast Asia, Southeast Asia, China and Hong Kong &...

China to counterbalance Panama setback through South America projects

As geopolitical tensions deepen and shipping lanes become politicized battlegrounds, China is recalibrating its approach to the Western Hemisphere. The recent retreat of CK Hutchison...
error: Content is protected !!