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DP World posts 13.5pc increase in Q3 container throughput
DUBAI-BASED DP World's terminals globally handled 18.3 million in the third quarter of the year, a 13.5 per cent year-on-year increase spurred on by the "recovery of global trade".
During the first nine months of this year, DP World terminals world handled a total 52.3 million TEU, an increase of 10 per cent over the same period last year.
DP World's growth rates topped this year's 5.5 percent global throughput increase forecast by Drewry Maritime Research, and surpassed growth of other large container terminal operators during the first half of this year.
The Maersk Group's APM Terminals said in August that its weighted throughput during the first half of this year increased 4.3 per cent overall and 3.3 per cent on a like-for-like basis. Manila-based International Container Terminal Services Inc reported first-half increases of 7 per cent overall and 5 per cent excluding new facilities, IHS Media reported.
Container volumes have been rising along with global trade. The World Trade Organization recently boosted its global GDP growth estimate to 3.6 per cent, compared with a previous 2017 estimate of 2.4 per cent and 1.3 per cent growth in 2016.
"The recovery of global trade in 2017 has outperformed previous expectations and we have seen significant upward revisions by economists and industry experts," Sultan Ahmed Bin Sulayem, DP World Group's chairman and CEO, said in a statement.
DP World said its third-quarter growth rates accelerated from the previous quarter in all of its regions, the Middle East and Africa, Europe, and the Americas. DP World's flagship United Arab Emirates terminals handled 11.6 million TEU in the first nine months of this year, a 4.6 per cent year-over-year increase.
During the third quarter, DP World added annual capacity of 1.5 million TEU at its Jebel Ali flagship terminal in Dubai, and 500,000 TEU at Prince Rupert, British Columbia. The company said it continues to seek growth opportunities in Latin America, Africa, and the Indian Subcontinent.
During the first nine months of this year, DP World terminals world handled a total 52.3 million TEU, an increase of 10 per cent over the same period last year.
DP World's growth rates topped this year's 5.5 percent global throughput increase forecast by Drewry Maritime Research, and surpassed growth of other large container terminal operators during the first half of this year.
The Maersk Group's APM Terminals said in August that its weighted throughput during the first half of this year increased 4.3 per cent overall and 3.3 per cent on a like-for-like basis. Manila-based International Container Terminal Services Inc reported first-half increases of 7 per cent overall and 5 per cent excluding new facilities, IHS Media reported.
Container volumes have been rising along with global trade. The World Trade Organization recently boosted its global GDP growth estimate to 3.6 per cent, compared with a previous 2017 estimate of 2.4 per cent and 1.3 per cent growth in 2016.
"The recovery of global trade in 2017 has outperformed previous expectations and we have seen significant upward revisions by economists and industry experts," Sultan Ahmed Bin Sulayem, DP World Group's chairman and CEO, said in a statement.
DP World said its third-quarter growth rates accelerated from the previous quarter in all of its regions, the Middle East and Africa, Europe, and the Americas. DP World's flagship United Arab Emirates terminals handled 11.6 million TEU in the first nine months of this year, a 4.6 per cent year-over-year increase.
During the third quarter, DP World added annual capacity of 1.5 million TEU at its Jebel Ali flagship terminal in Dubai, and 500,000 TEU at Prince Rupert, British Columbia. The company said it continues to seek growth opportunities in Latin America, Africa, and the Indian Subcontinent.
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