Media ININ Economy We Trust
MEDIA IN, Dubai, April 26, 2018 (WAM)
Dubai Ports World (DP World) today announced that it handled 17.6 million 20-TEUs through its global container terminal portfolio during the first quarter of 2018, recording an annual growth in total handling volumes based on accounting reporting of 7.3 per cent. The increase on the basis of homely comparison was 8.4 per cent above the expectations of Drury, which estimated growth in volumes of handling in the sector by 4.6 per cent for the first quarter of 2018.
The first quarter of 2018 witnessed the continued recovery of global trade, with three regions registering growth rates, specifically in Europe, the Middle East, Africa and Australia.
The UAE continued to grow steadily, handling 3.8 million TEUs in the first quarter, an annual increase of 2.9 per cent.
DP World’s consolidated terminals handled 9.2 million TEUs during the first quarter of 2018, an annual increase of 6.6 per cent on the basis of accounting reports. Annual growth in standard volumes on the basis of home comparison rose by 6.8 per cent.
Sultan Ahmed bin Sulayem, Chairman and CEO of Dubai Ports World, said: “The DP portfolio has recorded an encouraging start for the year as the global container market has witnessed strong performance in 2017 reaching record levels since 2011. Its portfolio achieved results that exceeded market growth across its geographical regions The three reaffirms the correctness of their approach to add the necessary absorptive capacity in the appropriate markets.
He was pleased to see the recovery of handling volumes in Australia and continued its operations in Europe, the Middle East and Africa to achieve strong growth and continued stability in the performance of the UAE.
