DP World reports 3.7% gross like - for - like volume growth in 9m 2018
DP World Limited handled 53.6 million TEU (twenty - foot equivalent units) across its global portfolio of container terminals in the first nine months of 2018, with gross container volumes growing by 2.6 % year - on - year on a reported basis and 3.7 % on a like - for - like basis.
Gross like - for - like volumes declined by 0.5% in 3 Q2018 due to the tougher year - on - year comparables (3Q2017 volumes grew 13.5% year - on - year), and softer volumes in the UAE. The UAE handled 11.3 million TEU in 9M 2018, down - 2.1% year - on - year, with 3Q2018 volumes down - 6.7% year - on - year due to the challenging macroenvironment and loss of lower - margin cargo. Growth in Europe remained robust with strong growth in London Gateway (UK) and Rotterdam (Netherlands). At a consolidated 2 level, DP World terminals handled 27.7 million TEU during the first nine months of 2018, a 1.6 % improvement in performance on a reported basis and up 2.2 % year - on - year on a like - for - like 3 basis.