DP World global box volume rises in 2018 but pace of growth slows to 1.9pc
GLOBAL terminal operator DP World saw container volume growth slip to 1
GLOBAL terminal operator DP World saw container volume growth slip to 1.9 per cent last year, handling a total of 71.4 million TEU with throughput at its home base in the UAE declining.
The 1.9 per cent gross volume growth in 2018 compared to a very strong year in 2017 when throughput increased 10.1 per cent to 70.1 million TEU. The global numbers were hit by a 2.7 per cent decline in volumes in the UAE to 15 million TEU last year, reports Seatrade Maritime News of Colchester, UK.
Chairman and CEO of DP World, Sultan Ahmed Bin Sulayem, said: 'We are pleased to see that our global portfolio has delivered growth on top of our strong prior year performance and despite the uncertainty with global trade.
'Our Europe and Americas portfolio saw strong growth with continued ramp-up in London Gateway (UK), Yarimca (Turkey) and Prince Rupert (Canada), while performance in Africa remains robust driven by Dakar (Senegal) and Sokhna (Egypt). In the UAE, the softer volumes were due to the loss of low-margin throughput, where we remain focused on high margin cargo and maintaining profitability.'
The results contrasted to Singapore-headquartered rival PSA which reported 9.1 per cent global container volume growth to 81 million TEU in 2018.