DP World reports 3.2% volume growth in 2016 and 6.0% volume growth in 4Q2016
DP World Limited handled 63.7 million TEU across its global portfolio of container terminals in the full year of 2016, with gross container volumes growing by 3.2% year-on-year on a reported basis, and 2.2 % on a like-for-like basis (excluding Yarimca (Turkey), Stuttgart (Germany), Antwerp Inland (Belgium) and Prince Rupert (Canada) figures), which compares favourably to the industry estimated growth of 1.3% for 2016, the company said in its press release.
In the fourth quarter, gross reported volumes grew by 6.0% year-on-year driven by strong growth in Asia Pacific and Europe. UAE handled 3.7 million TEU in 4Q2016 down marginally by 0.7% year-on-year. The Americas and Australia region delivered a broadly stable volume perform ance during this period.
At a consolidated level (terminals, where DP Wordl has control as defined under IFRS), DP World terminals handled 29.2 million TEU during 2016, a 0.4 % improvement in performance on a reported basis and down 1.6% year-on-year on a like-for-like basis (without volumes at Yarimca (Turkey), Stuttgart (Germany), Antwerp Inland (Belgium) and Prince Rupert (Canada)).
About DP World:
DP World is a leading enabler of global trade and an integral part of the supply chain. DP World operates multiple yet related businesses – from marine and inland terminals, maritime services, logistics and ancillary services to technology - driven trade solutions. DP World has a portfolio of 77 operating marine and inland terminals supported by over 50 related businesses in 40 countries across six continents with a significant presence in both high - growth and mature markets.
Container handling is the company’s core business and generates more than three quarters of its revenue. In 2015, DP World handled 61.7 million TEU (twenty - foot equivalent units) across its portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 79.6 million TEU is expected to rise to more than 100 million TEU by 2020, in line with market demand.