DP World container volumes up 10pc

DUBAI: Global ports operator DP World Limited recorded 10.1 per cent growth in gross container volumes by handling 70.1 million twenty-foot equivalent units across its global portfolio of container terminals in 2017.

DP World Group Chairman and Chief Executive Officer Sultan Ahmed bin Sulayem said the growth was driven by 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 regions. 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," he said. Sulayem said the ports operator would see stable performance in the UAE as volumes continued to grow in the fourth quarter of 2017 amidst uncertainty in the region and tougher year-over-year comparables. "The performance across our other terminals in the Middle East & Africa remains strong in addition to Europe and the Americas."

In 2018, DP World, DP World, which operates 78 marine and inland terminals around the world, expects to continue to grow ahead of the market and see increased contributions from our new developments, said Sulayem. "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. Given the strong volume performance of our portfolio, we are well placed to meet full year 2017 market expectations."