DP World reports 7.3% gross volume growth in Q1

Dubai, United Arab Emirates, 26 April 2018: DP World Limited handled 17.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2018, with gross container volumes growing by 7.3% year-on-year on a reported basis, and 8.4% on a like-for-like[1] basis, well ahead of Drewry Maritime’s industry estimate of 4.6% global throughput growth for 1Q2018[2].

The first quarter witnessed a continuation of the recovery in global trade and all three regions delivered growth, especially our terminals in Europe, Middle East & Africa and Australia. UAE continues to deliver stable growth and handled 3.8 million TEU, growing 2.9% year-on-year in 1Q2018.

At a consolidated[3] level, our terminals handled 9.2 million TEU during the first quarter of 2018, a 6.6% improvement in performance on a reported basis and up 6.8% year-on-year on a like-for-like[4] basis.

[1] Like for like gross container volume does not include volumes at Berbera (Somaliland), Limassol (Cyprus), Doraleh (Djibouti) and Saigon (Vietnam).

[2] Drewry Maritime Research published updated global throughput growth numbers in the Container Forecaster 1Q2018 in March 2018.

[3] Consolidated throughput is throughput from all terminals where the group has control as per IFRS.

[4] Like for like consolidated container volume does not include volumes at Berbera (Somaliland), Limassol (Cyprus), Doraleh (Djibouti), Saigon (Vietnam) and normalizes for the consolidation of Embraport (Brazil).