DP World handled 71.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the full year of 2018, with gross container volumes growing by 1.9% year-on-year on a reported basis and 2.9% on a like-for-like[1] basis
Gross volumes were stable in 4Q2018 despite softer volumes in the UAE and the tough year-on-year comparables (4Q2017 grew by 10.3%). The UAE handled 15.0 million TEU in 2018 down 2.7% year-on-year.
At a consolidated[2] level, our terminals handled 36.8 million TEU in 2018, a 0.8% improvement in performance on a reported basis and up 1.4% year-on-year on a like-for-like[3] basis
Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented:
“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.
“In 2018, we have made good progress in strengthening our product offering which will enable us to participate in a wider part of the supply chain and offer smarter long-term solutions to cargo owners. Looking ahead to 2019, we expect our portfolio to continue to deliver growth and our focus remains on delivering operational excellence, managing costs and disciplined investment to remain the trade partner of choice. Given the steady volume performance of our portfolio, we are well placed to meet full year 2018 market expectations.”
Further Information
| Gross Volume
‘000 TEU |
4Q
2017 |
4Q
2018 |
4Q % Growth
(like for like) |
12M
2017 |
12M
2018 |
12M % Growth
(like for like) |
| Asia Pacific & Indian Subcontinent | 8,043 | 8,283 | +3.0%
(+3.0%) |
31,924 | 32,904 | +3.1%
(+3.2%) |
| Europe, Middle East and Africa* | 7,441 | 7,181 | -3.5%
(-1.0%) |
29,358 | 29,475 | +0.4%
(+3.1%) |
| Americas & Australia | 2,316 | 2,316 | +0.0%
(-3.7%) |
8,798 | 9,040 | +2.8%
(+0.9%) |
| Total Group | 17,800 | 17,781 | -0.1%
(+0.4%) |
70,079 | 71,419 | +1.9%
(+2.9%) |
| *UAE Volumes included in Middle East, Africa and Europe region | 3,790 | 3,615 | -4.6%
(-4.6%) |
15,368 | 14,954 | -2.7%
(-2.7%) |
| Consolidated Volume
‘000 TEU |
4Q
2017 |
4Q
2018 |
4Q % Growth
(like for like) |
12M
2017 |
12M
2018 |
12M % Growth
(like for like) |
| Asia Pacific & Indian Subcontinent | 2,475 | 2,496 | +0.8%
(+0.8%) |
10,020 | 10,019 | +0.0%
(+0.5%) |
| Europe, Middle East and Africa* | 5,780 | 5,495 | -4.9%
(-1.8%) |
22,889 | 22,585 | -1.3%
(+2.1%) |
| Americas & Australia | 965 | 1,086 | +12.6%
(+0.6%) |
3,567 | 4,156 | +16.5%
(-0.1%) |
| Total Group | 9,221 | 9,077 | -1.5%
(-0.8%) |
36,476 | 36,760 | +0.8%
(+1.4%) |
[1] Like for like gross container volume does not include volumes from Berbera (Somaliland), Limassol (Cyprus), Paita (Peru), Doraleh (Djibouti), Saigon (Vietnam)
[2] Consolidated terminals are those where we have control as defined under IFRS.
[3] 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 Santos (Brazil).
