DP World Limited reported its results for the first half of the year, highlighting an important improvement of 10.7% year-on-year growth, ahead of Drewry Maritimes estimate of 4%.
The company handled 34 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals, with gross container volumes growing 8.2% year-on-year.
All three DP World regions had higher growth rates in the second quarter 2017, especially European terminals and the Americas. The UAE handled 7.7 million TEU in the first half of 2017, growing 4.3% year-on-year.
The Asia Pacific and Indian Subcontinent region rates were boosted by the consolidation of Pusan (South Korea) at the end of 2016.
The company said that its terminals handled 17.9 million TEU during the first half of 2017, a 22.4% improvement in performance on a reported basis.
“We are pleased to see our terminals in the Americas and Europe continue to deliver growth. Encouragingly, UAE volumes have improved and we continue to expect our portfolio’s volume growth to outperform the market,” said Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem.
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