Dubai – Mubasher: DP World Limited on Tuesday reported positive handling results for the second quarter of 2017 and the first half of the year.
The terminal operator said it handled 34 million twenty-foot equivalent units (TEUs) across its global portfolio of container terminals in the first half of 2017.
Gross container volumes increased 8.2% “year-on-year on a reported basis and 7.7% on a like-for-like basis, with second quarter growth rates accelerating to 10.7% year-on-year on a reported basis and 10.4% on a like-for-like basis,” DP World said in a statement.
These figures come ahead of Drewry Maritime’s upgraded industry estimate of 4% throughout growth in 2017, the Dubai-based container operator revealed.
DP World’s three regions enjoyed accelerating growth rates in Q2-17, particularly at its terminals in Europe and the Americas.
The UAE alone handled 7.7 million TEUs in H1-17, up 4.3% year-on-year, while Q2-17 data showed a 6.6% growth, the terminal operator added.
Meanwhile, global trade improved during the first six months of 2017, supporting DP World’s results for the period.
“At a consolidated level, our terminals handled 17.9 million 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,” the company added in a statement.
Meanwhile, consolidated volume in the Asia Pacific and Indian Subcontinent region grew on the back of consolidation of Pusan (South Korea) at the end of 2016, DP World reported.
Commenting on the results, DP World Group chairman and CEO Sultan Ahmed bin Sulayem noted that his company’s 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.”
DP World’s positive performance during the period is an indicator of its “right strategy and relevant capacity in key markets,” bin Sulayem added, highlighting that he expects the company to meet market expectations for 2017.
