Dubai, United Arab Emirates,
23
July
2019
|
15:17
Europe/Amsterdam

DP World Reports 1.6% Gross Volume Growth in Q2 2019

Sultan Ahmed Bin Sulayem
Encouragingly, despite uncertainty from the trade war, we have seen robust volumes in Asia Pacific and Indian Subcontinent, while growth in Africa remains strong. 
Sultan Ahmed Bin Sulayem

DP World PLC handled 35.8 million TEU (Twenty-Foot Equivalent Units) across its global portfolio of container terminals in the first half of 2019, with gross container volumes growing by 0.5% year-on-year on a reported basis and 0.5% on a like-for-like basis.

Strong performance across Asia Pacific, Indian Subcontinent and Africa drove growth in 2Q2019, but weaker volumes in the UAE and Australia offset this trend.

At a consolidated level, our terminals handled 19.5 million TEU during the first half of 2019. Consolidated volumes in 2Q2019 grew by 10.6% on a reported basis but down 0.6% on a like-for-like basis. The strong reported growth in Americas and Australia region is due to the consolidation of Australia and acquisition of Pulogsa which consists of two terminals in Chile. 

DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said: “In line with our expectations, we have delivered a broadly stable volume performance in the first half of 2019. Encouragingly, despite uncertainty from the trade war, we have seen robust volumes in Asia Pacific and Indian Subcontinent, while growth in Africa remains strong. In contrast, UAE and Australia volumes have been soft due to a loss of lower-margin cargo and challenging market conditions. However, we expect a more stable throughput performance in the UAE for the second half of the year.

On our broader portfolio, we have made good progress in strengthening our product offering, allowing us to enable trade and connect directly with end customers to deliver a range of logistic solutions. Our near-term focus is on integrating our recent acquisitions, managing costs and disciplined investment to cement DP Worlds position as the trade partner of choice.”

Further Information:

Gross Volume

‘000 TEU

2Q

2018

2Q

2019

% Growth

(like for like)

1H

2018

1H

2019

% Growth

(like for like)

Asia Pacific & Indian Subcontinent

7,908

8,234

+4.1%

(+7.2%)

15,621

16,246

+4.0%

(+5.5%)

Europe, Middle East and Africa*

7,873

7,740

-1.7%

(-1.6%)

15,591

15,138

-2.9%

(-2.5%)

Americas & Australia

2,248

2,346

+4.4%

(-6.3%)

4,408

4,428

+0.4%

(-6.7%)

Total Group

18,029

18,320

+1.6%

(+1.6%)

35,620

35,811

+0.5%

(0.5%)

 

 

 

 

 

 

 

UAE Volumes included in Middle East, Africa and Europe region

4,215

3,947

-6.3%

(-6.3%)

8,361

7,740

-7.4%

(-7.4%)

 

 

 

 

 

 

 

Consolidated Volume

‘000 TEU

2Q

2018

2Q

2019

% Growth

(like for like)

1H

2018

1H

2019

% Growth

(like for like)

Asia Pacific & Indian Subcontinent

2,203

2,381

+8.1%

(+8.1%)

4,425

4,685

+5.9%

(+5.9%)

Europe, Middle East and Africa*

6,129

5,979

-2.4%

(-2.3%)

12,158

11,662

-4.1%

(-3.5%)

Americas & Australia

1,018

1,979

+94.3%

(-5.4%)

1,994

3,148

+57.9%

(-5.9%)

Total Group

9,350

10,338

+10.6%

(-0.6%)

18,576

19,495

+4.9%

(-1.7%)

About DP World

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.