DUBAI: DP World’s worldwide container terminals handled 63.7 million twenty-foot equivalent units (TEU) of gross cargo volume in 2016, the company said in a statement on Tuesday.
That represents a growth in gross container volumes of 3.2 per cent, the firm said, or 2.2 per cent on a like-for-like basis. Estimated industry growth for 2016 was 1.1 per cent.
In the fourth quarter, gross reported volumes rose by 6 per cent year on year, driven by strong growth in Europe and Asia-Pacific, the firm said. The Americas and Australia remained stable.
Group Chairman and Chief Executive Officer Sultan Ahmad Bin Sulayem commented:
“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.
“We will continue to maintain capital expenditure discipline by bringing on capacity in line with demand, while focusing on targeting higher margin cargo, improving efficiencies and managing costs to drive profitability. Given the resilient volume performance of our portfolio, we are well placed to meet full year 2016 market expectations.”
At a consolidated level, DP World terminals handled 29.2 million TEU during 2016, up 0.4 per cent on a reported basis and down 1.6 per cent year-on-year on a like-for-like basis.
