DP World’s container volumes rise 5.7% across global ports

Ports operator DP World handled 16.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2017, with gross container volumes growing by 5.7 percent year-on-year (YoY) on a reported basis, the Nasdaq Dubai-listed company said in a statement Thursday. 

Volumes increased 5 percent on a like-for-like basis, ahead of the industry estimate of 2.6 percent throughput growth for Q1 2017.

The Dubai-based company said all its three regions delivered growth in the first quarter, especially DP World’s terminals in Europe and the Americas. UAE also stabilized and handled 3.7 million TEU, growing 1.8 percent YoY.

At a consolidated level, DP World’s terminals handled 8.7 million TEU during Q1, a 19.9 percent growth in performance on a reported basis and up 1.6 percent YoY on a like-for-like basis.

“There are signs of a gradual improvement in the market environment in 2017 and our portfolio has had an encouraging start to the year delivering ahead-of-market growth,” group chairman and chief executive, Sultan Ahmed Bin Sulayem said in the statement.

“We are pleased to see volumes recovering in the Americas while our new terminals in Europe continue to deliver growth … We continue to expect our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (UK) and Yarimca (Turkey) to drive growth in our portfolio,” he added.

Reported consolidated volume in the Asia Pacific and the Indian subcontinent region was boosted by the consolidation of Pusan (South Korea) at the end of 2016, DP World said.