DP World registers 3.2% volume growth in 2016
At a consolidated level, DP World's terminals handled 29.2 million TEU during 2016, a 0.4% improvement in performance on a reported basis
Gross container volumes at DP World Limited grew by 3.2% year-on-year last year with 63.7 million TEU (twenty-foot equivalent units) handled across its global portfolio of container terminals.
This figure compares favourably to the industry estimated growth of 1.3% for 2016, with 2.2% on a like-for-like basis for the global port operator, according to Dubai Media Office.
Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem said: “Despite the challenging market conditions, particularly at our flagship Jebel Ali Port, our portfolio continues to deliver ahead-of-market growth, which once again demonstrates the benefits of operating a globally diversified portfolio.
“We are pleased to see volumes stabilising in the UAE and as we look ahead into 2017, we expect our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) to drive growth in our portfolio.”
In the fourth quarter, gross reported volumes grew by 6.0% year-on-year driven by strong growth in Asia Pacific and Europe. UAE handled 3.7 million TEU in 4Q2016 down marginally by 0.7% year-on-year.
The Americas and Australia region delivered a broadly stable volume performance during this period.
DP World said in a statement that, at a consolidated level, its terminals handled 29.2 million TEU during 2016, a 0.4% improvement in performance on a reported basis and down 1.6% year-on-year on a like-for-like basis.