DUBAI : DP World Limited handled
52.3 million TEU (twenty-foot equivalent units) across its global portfolio of
container terminals in the first nine months of 2017, with gross container
volumes growing by 10.0% year-on-year on a reported basis and 9.6% on a
like-for-like basis, with the third quarter growth rates accelerating to 13.5%
year-on-year on a reported basis and 13.3% on a like-for-like basis, ahead of
second quarter growth and Drewry Maritime’s upgraded industry estimate of 5.5%
throughput growth in 2017.
Global trade outlook improved significantly in 2017 with the World
Trade Organization recently upgrading trade growth from 2.4% to 3.6% in 2017
and all three DP World regions saw third quarter growth rates accelerate even
more than the second quarter of 2017, particularly our terminals in Middle East
& Africa, Europe and the Americas.
The UAE handled 11.6 million TEU in 9M2017, growing 4.6%
year-on-year.
At a consolidated level, our terminals handled 27.3 million TEU
during the first nine months of 2017, a 24.2% improvement in performance on a
reported basis and up 6.2% year-on-year on a like-for-like 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.
DP World Group Chairman and Chief Executive Officer Sultan Ahmed
Bin Sulayem commented: “The recovery of global trade in 2017 has outperformed
previous expectations and we have seen significant upward revisions by
economists and industry experts. Benefitting from the improved trading
environment and market share gains from the new shipping alliances, our global
portfolio continues to deliver ahead-of-market growth and this across all three
regions.
We have seen an acceleration of growth rates in the third quarter
as we employ the right strategy and the relevant deep-water capacity in the key
markets. “We are pleased to see 3Q2017 UAE volumes continue to grow despite
uncertainty in the region and the performance across our terminals in the
Middle East & Africa, Americas and Europe remains strong. “During the third
quarter, we added 1.5 million TEU of new capacity in Jebel Ali (UAE) Terminal 3
(T3) and 0.5 million TEU in Prince Rupert (Canada) which provides us room for
continued growth in these key markets. We continue to seek growth opportunities
in Latin America, Africa and Indian subcontinent where there remains
significant structural growth potential. “We expect our portfolio’s volume
growth to continue to outperform the market and given the encouraging
performance so far, we remain well placed to meet full year 2017 market
expectations.”
Source: Dailyshippingtimes.com
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