Dp World Reports 6.0% Gross Like-For-Like Volume Growth In First Half Of 2018
35.6 Million Teu Handled Globally In The First Half Of 2018
Our portfolio has delivered an encouraging performance in the first half of 2018 with all regions continuing to deliver growth.
DP World Limited handled 35.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first half of 2018, with gross container volumes growing by 4.8% year-on-year on a reported basis and 6.0% on a likefor-like1 basis.
The first half of 2018 continues to see an upswing in global trade and all three DP World regions delivered growth, particularly our terminals in Europe and Australia. The UAE handled 7.7 million TEU in 1H2018, remaining broadly flat (+0.2%) year-on-year. At a consolidated2 level, our terminals handled 18.6 million TEU during the first half of 2018, a 4.0% improvement in performance on a reported basis and up 4.5% year-on-year on a like-forlike3 basis.
Group Chairman and Chief Executive Officer, Sultan Ahmed Bin Sulayem, commented: “Our portfolio has delivered an encouraging performance in the first half of 2018 with all regions continuing to deliver growth. However, as expected there has been a deceleration in the growth rate in 2Q2018 due the tougher year-on-year comparables, where 2Q2017 grew 10.7% year-onyear driven by market share gains from the new shipping alliances.
“Nevertheless, the robust performance across all regions continues to be an affirmation of our strategy to deploy relevant capacity in key markets and operate a diversified portfolio. We are pleased to see our terminals in Europe and Australia continue to deliver growth and still expect to see increased contributions from our new investments in the second half of the year.
“Whilst geopolitical headwinds and recent changes in trade policies continue to pose uncertainty to the container market, first half volume performance demonstrates that our portfolio is well positioned to deliver growth. We continue to focus on delivering operational excellence and disciplined investment to remain the port operator of choice as well as strengthening our product offering to play a wider role in the global supply chain as a trade enabler
DP World is a leading enabler of global trade and an integral part of the supply chain.
We operate multiple yet related businesses – from marine and inland terminals, maritime services, logistics and ancillary services, to technology-driven trade solutions.
We have a portfolio of over 150 operations in over 45 countries across six continents, with a significant presence in both high-growth and mature markets. We aim to be essential to the bright future of global trade, ensuring that everything we do contributes positively and sustainably to both the economy and society.
Our dedicated team of more than 46,000 employees from 120 countries cultivates long-standing relationships with governments, shipping lines, importers and exporters, communities, and many other important constituents of the global supply chain, providing quality value-added services today and tomorrow.
Container handling is the company’s core business and generates more than 50% of its revenue. In 2018, DP World handled 71.4 million TEU (twenty-foot equivalent units) across our portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 91 million TEU is expected to rise in line with market demand.
By thinking ahead, foreseeing change and innovating, DP World aims to create the most productive, efficient and safe trade solutions globally.