DP World Limited has reported handling 17.6 million twenty-foot equivalent units (TEU) across its global portfolio of container terminals in Q1 2018.
According to the company statistics, 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.
In its official statement , DP World revealed that in the first quarter itself the company witnessed a continuation of the recovery in global trade and all three regions delivered growth, especially in Europe, Middle East & Africa and Australia. Moreover, 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.”
more recommended stories
Dubai’s Dubizzle classified website worth at $400m after completes acquisition of Naspers
UAE-based online classified website dubizzle is.
UAE-based electronics retail firm, Ecity plans to expand with Abu Dhabi Store
UAE-based electronics retail firm, Ecity, plans.
With increasing price of $ 16 million “Send-Bird” has given a developers tools to quickly roll out chat functionality
If you go to any company’s.
Indonesia is seeking new avenues to deploy a part of its $8 billion Haj funds
Indonesia is looking for new avenues.