DP World ‘Well Placed’ to Meet Full Year Expectations
- Business & Finance
Dubai-based port and terminal operator DP World Limited handled 34 million TEUs across its global portfolio of container terminals in the first half of 2017, with gross container volumes growing by 8.2% year-on-year.
The first six months of the year witnessed an improvement in global trade and all three DP World regions saw growth rates accelerate in the second quarter of 2017, particularly the company’s terminals in Europe and the Americas. The UAE handled 7.7 million TEUs in the first half of the year, growing 4.3% year-on-year.
At a consolidated level, DP World’s terminals handled 17.9 million TEUs during the first half of 2017, rising by 22.4% in performance on a reported basis. 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.
“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,” Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer, said.
“Given the encouraging first half performance, we remain well placed to meet full year 2017 market expectations.”