DP World reports 10.7% volume growth in Q2 2017


DP World handled 34.0m TEUs across its global portfolio of container terminals in the first half of 2017. Gross container volumes grew by 8.2% year-on-year on a reported basis and 7.7% on a like-for-like basis, which does not include volumes at Yarimca (Turkey) for 1Q17 only, Saint John (Canada), Limassol (Cyprus) and Berbera (Somaliland).

Q2 2017 gross container volumes grew by 10.7% year-on-year on a reported basis and 10.4% on a like-for-like basis, which does not include volumes at Saint John (Canada), Limassol (Cyprus) and Berbera (Somaliland).

The first half of 2017 witnessed an improvement in global trade and all three DP World regions saw growth rates accelerate in Q2 of 2017, particularly terminals in Europe and the Americas. The UAE handled 7.7m TEUs in the first half of 2017, growing 4.3% year-on-year, implying a Q2 2017 growth of 6.6%.

At a consolidated level, DP World’s terminals handled 17.9m TEUs during the first half of 2017, a 22.4% improvement in performance on a reported basis and up 4.7% year-on-year on a like-for-like basis. Like for like consolidated container volumes do not include volumes at Yarimca (Turkey) for 1Q17 only, Saint John (Canada), Limassol (Cyprus), Berbera (Somaliland) and normalise for the PNC consolidation (South Korea). 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.

Group Chairman and Chief Executive Officer, Sultan Ahmed Bin Sulayem, commented: “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. The robust performance was delivered across all three regions, which once again demonstrates that we have the right strategy and the relevant capacity in the key markets.”

He added: “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”.

Source: DP World

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