DP World expects strong growth in 2018

CEO Sultan Ahmed bin Sulayam says he expects greater contributions from new developments
DP World group chairman and CEO Sultan Ahmed bin Sulayem
By Bernd Debusmann Jr
Wed 07 Feb 2018 09:21 AM

Dubai-based DP World expects further growth in 2018 after a reported 10.1 year-on-year increase in the volume of cargo handled in its global portfolio of container terminals, according to DP World group chairman and CEO Sultan Ahmed bin Sulayem.

According to DP World statistics, the company handled 70.1 million TEU (twenty-foot equivalent units) across its portfolio in 2017, with gross container volumes growing by 10.1 percent year-on-year on a reported basis and 9.7 percent on a like-for-like basis, more than the 6 percent throughput growth estimate from Drewry Maritime.

In Q4 2017, DP World’s global portfolio grew 10.3 percent year-on-year on a reported basis and 9.9 percent on a like-for-like basis, with consistent performance across Europe, the Americas, Africa and the Middle East.

The UAE, for its part, handled 15.4 million TEU in 2017, up 4 percent year-on-year. Overall, DP World terminals handled 36.5 million TEU in 2017, a 24.7 percent improvement in performance on a reported basis, and up 6.2 percent on a like-for-like basis.

“Benefitting from the improved trading environment and market share gains, our global portfolio once again delivered ahead-of-market growth in 2017 and has seen strong performance across all three key regions,” Bin Sulayem said.

“Over the years, we have deployed the relevant deep-water capacity in key markets, focusing on a diversified portfolio which continues to benefit from the recovery in global trade.”

Looking forward to 2018, bin Sulayem noted that DP World expects to see “increased contributions” from its new developments.

“We continue to seek opportunities in complementary sectors in the global supply chain and will maintain capital expenditure discipline by bringing on capacity in line with demand,” he said. “Given the strong volume performance of our portfolio, we are well placed to meet full year 2017 market expectations.”

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Last Updated: Wed 07 Feb 2018 08:44 AM GST

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