DP World reports global volume growth in Q1

DP World has reported tonnage statistics for the first quarter of 2017. It announced volume growth in each major reporting region. Gross TEU volumes were up 5.7% year-over-year to 16.4m TEUs, or 5.0% year-over-year on a like for like basis (if newly opened terminals are not included). DP World said this exceeded the market growth rate, quoting a source from Drewry Maritime Research that said industry-wide throughput growth stood at 2.6% for Q1 of 2017.

DP World’s gross TEU volume growth in Asia Pacific & India Subcontinent; Europe, Middle East and Africa; and Americas and Australia stood at 5.8%, 5.2% and 7.0% respectively. On a like for like basis, these growth figures were 5.8%, 3.6% and 6.5% respectively.

In consolidated terminals, that is terminals for which DP World is deemed to have control of under accounting standards, tonnage grew 19.9% to 8.7m TEUs. The growth rate was 1.6% on a like for like basis.

DP World Chairman and Chief Executive Officer, Sultan Ahmed Bin Sulayem, commented: “There are signs of a gradual improvement in the market environment in 2017 and our portfolio has had an encouraging start to the year delivering ahead-of-market growth. The robust performance was delivered across all three regions, which once again demonstrates that we have the relevant capacity in the right markets… we remain well placed to meet full year 2017 market expectations”.

Source: DP World