DP World Limited said on Thursday it handled 17.6 million twenty-foot equivalent units (TEU) across its global portfolio of container terminals in the first quarter of 2018.
It said gross container volumes grew by 7.3 percent year-on-year on a reported basis, and 8.4 percent on a like-for-like basis, well ahead of the industry estimate of 4.6 percent.
DP World said in a statement that the first quarter witnessed a continuation of the recovery in global trade and all three regions delivered growth, especially in Europe, Middle East & Africa and Australia.
It added that the UAE continued to deliver stable growth and handled 3.8 million TEU, growing 2.9 percent year-on-year in Q1.
Sultan Ahmed Bin Sulayem, group chairman and CEO, said: “Following a strong year for the global container market in 2017 with peak levels since 2011, our portfolio has had an encouraging start to 2018 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 are pleased to see volumes recover in Australia while our terminals in Europe, Middle East and Africa continue to deliver strong growth and UAE continues to stabilize. While the trade environment may appear more benign, geopolitical headwinds in some regions continue to pose uncertainty.
He added: "Nevertheless, we still expect to grow ahead of the market and see increased contributions from our new investments.
“The first quarter volume performance demonstrates that our portfolio is well positioned to deliver growth, and our continued focus on delivering operational excellence as well as disciplined investment should ensure that we remain the port operator of choice across geographies.”For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.