Major operator boasts of volumes growth
Port operator DP World handled 71.4m teu across its container terminals last year, with gross container volumes growing by 1.9% year-on-year on a reported basis and 2.9% on a like-for-like basis.
With regards to consolidated volume, the organisation handled 36.8m teu in 2018, representing growth of 0.8% year-on-year on a reported basis and 1.4% on a like-for-like basis.
However, when it came to the fourth quarter of last year, teu for gross volume was 17.8m, representing -0.1% growth year-on-year on a reported basis and 0.4% like for like, and for consolidated volume, teu was 9.1m, representing growth of -1.5% year-on-year on a reported basis and -0.8% like for like.
Looking at results for the whole of 2018, growth on a reported basis for Europe, the Middle East and Africa (excluding the UAE) was -1.3% year-on-year, while for the Americas and Australia, it was -0.1% year-on-year like for like.
However, year-on-year growth, reported, for Australia and the Americas was 16.5%.
According to DP World’s group chairman and chief executive, Sultan Ahmed Bin Sulayem, there was “continued ramp-up” at the UK’s DP World London Gateway and Turkey’s Yarimca as well as at Prince Rupert in Canada.
Africa’s continued strong performance is driven by Senegal’s Dakar and Egypt’s Sokhna, he added.
As for the softer volumes in the UAE, the chief executive put them down to the loss of low-margin throughput, where, according to him, DP World is still “focused on high-margin cargo and maintaining profitability”.
“In 2018, we have made good progress in strengthening our product offering, which will enable us to participate in a wider part of the supply chain and offer smarter long-term solutions to cargo owners,” said Mr Bin Sulayem.
“Looking ahead to 2019, we expect our portfolio to continue to deliver growth, and our focus remains on delivering operational excellence, managing costs and disciplined investment to remain the trade partner of choice.”
Mr Bin Sulayem added that the operator is well-placed to meet market expectations for full year 2018.
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