DP World container volume growth slows to 1.9% in 2018

Terminal operator DP World saw container volume growth slip to 1.9% last year to handle 71.4m teu, with throughput at its home base in the UAE declining.

DP World the gross volume growth of 1.9% in 2018 compared to a very strong year in 2017 when throughput increased 10.1% to 70.1m teu.

The global numbers were hit by a 2.7% decline in volumes in the UAE to 15m teu last year.

Commenting on the results Sultan Ahmed Bin Sulayem, chairman and ceo of DP World said:   “We are pleased to see that our global portfolio has delivered growth on top of our strong prior year performance and despite the uncertainty with global trade.

“Our Europe and Americas portfolio saw strong growth with continued ramp-up in London Gateway (UK), Yarimca (Turkey) and Prince Rupert (Canada), while performance in Africa remains robust driven by Dakar (Senegal) and Sokhna (Egypt). In the UAE, the softer volumes were due to the loss of low-margin throughput, where we remain focused on high margin cargo and maintaining profitability.”    

The results contrasted to Singapore-headquartered rival PSA which reported 9.1% global container volume growth to 81m teu in 2018.

Posted 05 February 2019

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Marcus Hand

Editor, Seatrade Maritime News

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