DP World reports 3.7% gross volume growth in first quarter of 2016

Press release
Published April 28th, 2016 - 08:50 GMT
DP World
DP World

DP World Limited today held its Annual General Meeting for the year ended 31 December 2015.  DP World Chairman, Sultan Ahmed Bin Sulayem, made the following statement regarding operational performance in the first quarter of 2016.

“DP World Limited handled 15.5 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first quarter of 2016, with gross container volumes growing by 3.7% on a reported basis, and up 2.4% on a like-for-like[1] basis.

“First quarter growth was largely driven by a stronger performance from our European and Indian subcontinent terminals. Conditions in Latin America remain challenging while the UAE handled 3.6 million TEU, down 5.9% year-on-year due to loss of lower-margin cargo.

“At a consolidated[2] level, our terminals handled 7.2 million TEU during the first quarter of 2016, a 2.3% improvement in performance on a reported basis and down 0.4% year-on-year on a like-for-like[3] basis.

“Despite the challenging operating environment, we are pleased to see that our portfolio continues to deliver ahead of market volume growth.

“Our new developments in Rotterdam (Netherlands), Nhava Sheva (India) and Yarimca (Turkey) are now operational and are expected to deliver an increasing contribution in the second half of 2016. The additional 2 million TEU of capacity at Jebel Ali (UAE) and 1 million TEU of capacity in London Gateway (UK) are on course to be delivered in mid-2016, which will offer further room for growth.

“Overall, we remain well positioned to grow volumes ahead of the market, while we continue to focus on driving profitability by targeting higher margin cargo, improving efficiencies and managing costs. Our encouraging start to the year gives us confidence in meeting full year market expectations.”

Further Information

Gross Volumes

‘000 TEU

1Q

2016

1Q

2015

%

(like for like)

Asia Pacific & India Subcontinent

7,211

6,885

+4.7%

(+4.7%)

Europe, Middle East and Africa*

6,403

6,405

0.0%

(-0.4%)

Americas & Australia

1,903

1,678

+13.4%

(+3.1%)

Total Group

15,516

14,968

+3.7%

(+2.4%)

 

*UAE Volumes included in Europe, Middle East and Africa

3,649

3,878

-5.9%

 

Consolidated

‘000 TEU

1Q

2016

1Q

2015

%

(like for like)

Asia Pacific & India Subcontinent

1,257

1,130

+11.3%

(+11.3%)

Europe, Middle East and Africa*

5,246

5,306

-1.1%

(-1.6%)

Americas & Australia

718

622

+15.4%

(-12.3%)

Total Group

7,222

7,057

+2.3%

(-0.4%)

 

Background Information

DP World

We began life as a local port operator with our first project, the development of Dubai’s Port Rashid, in 1972. Seven years later we opened Jebel Ali Port, the busiest port outside of Asia and a facility that has propelled us on our journey to becoming a leading enabler of global trade. 

 

Contact Information

DP World
JAFZA 17,
Jebel Ali Free Zone
PO Box 17000,
Dubai - UAE
Company email

PR Contact

Contact Name
DP World Press Office

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