DP World declares 3.2% volume growth in 2016 and 6% volume growth in Q4 2016

DP World declares 3.2% volume growth in 2016 and 6% volume growth in Q4 2016

Feb 7, 2017: DP World Limited handled 63.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the full year of 2016, with gross container volumes growing by 3.2 percent year-on-year on a reported basis, and 2.2 percent on a like-for-like[1] basis, which compares favourably to the industry estimated growth of 1.3 percent for 2016[2]

According to a DP World press statement, in the fourth quarter, gross reported volumes grew by 6.0 percent year-on-year driven by strong growth in Asia Pacific and Europe. UAE handled 3.7 million TEU in Q4 2016 down marginally by 0.7percent year-on-year. The America and Australia region delivered a broadly stable volume performance during this period.

At a consolidated[3] level, our terminals handled 29.2 million TEU during 2016, a 0.4 percent improvement in performance on a reported basis and down 1.6 percent year-on-year on a like-for-like[4]basis.

“Despite the challenging market conditions, particularly at our flagship Jebel Ali Port, our portfolio continues to deliver ahead-of-market growth, which once again demonstrates the benefits of operating a globally diversified portfolio,” said Sultan Ahmed Bin Sulayem, CEO, DP World. “We are pleased to see volumes stabilising in the UAE and as we look ahead into 2017, we expect our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) to drive growth in our portfolio.

“We will continue to maintain capital expenditure discipline by bringing on capacity in line with demand, while focusing on targeting higher margin cargo, improving efficiencies and managing costs to drive profitability. Given the resilient volume performance of our portfolio, we are well placed to meet full year 2016 market expectations,” he added.

Further Information

Gross Volume

‘000 TEU

Q4 2016

Q4 2015

Q4 Growth

(like for like)

12M

2016

12M2015

12MGrowth

(like for like)

Asia Pacific & India Subcontinent

7,528

6,848

+9.9%

(+9.9%)

29,587

28,285

+4.6%

(+4.6%)

Europe, Middle East and Africa*

6,563

6,338

+3.6%

(+3.1%)

26,338

25,985

+1.4%

(+0.9%)

Americas & Australia

2,051

2,038

+0.7%

(+0.7%)

7,734

7,430

+4.1%

(-2.4%)

Total Group

16,142

15,223

+6.0%

(+5.8%)

63,658

61,701

+3.2%

(+2.2%)

 

*UAE Volumes included in Middle East, Africa and Europe region

3,705

3,731

-0.7%

(-0.7%)

14,772

15,592

-5.3%

(-5.3%)

 

Consolidated

‘000 TEU

Q4 2016

Q4 2015

Q4 Growth

(like for like)

12M

2016

12M 2015

12M Growth

(like for like)

Asia Pacific & India Subcontinent

1,228

1,242

-1.2%

(-1.2%)

4,957

4,870

+1.8%

(+1.8%)

Europe, Middle East and Africa*

5,307

5,227

+1.5%

(+1.0%)

21,279

21,556

-1.3%

(-1.9%)

Americas & Australia

765

768

-0.4%

(-0.4%)

3,003

2,684

+11.9%

(-6.0%)

Total Group

7,300

7,237

+0.9%

(+0.5%)

29,240

29,110

+0.4%

(-1.6%)

 

[1]Like for like gross container volume does not include volumes at Yarimca (Turkey), Stuttgart (Germany), Antwerp Inland (Belgium) and Prince Rupert (Canada). 

[2] Drewry Maritime Research published updated global throughput growth numbers in the Container Forecaster & Annual Review 2016/17 in October 2016.

[3]Consolidated terminals are those where we have control as defined under IFRS.

[4]Like for like consolidated container volume does not include volumes at Yarimca (Turkey), Stuttgart (Germany), Antwerp Inland (Belgium) and Prince Rupert (Canada).

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