Dubai - Mubasher: DP World on Tuesday reported a rise in its international operations in 2018, indicating that gross container volumes increased 2.9% on a like-for-like basis.
The Dubai-based ports operator handled around 71.4 million twenty-foot equivalent units (TEU) in the period from January to December 2018.
As for the fourth quarter of 2018, DP World’s global gross volumes remained unchanged, it said in a statement.
“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,” commented DP World CEO Sultan Ahmed Bin Sulayem.
The firm’s portfolio in Africa, especially in Dakar, Senegal, and Sokhna in Egypt added to Canada, the UK, Turkey, North America, and South America, also enjoyed a positive performance during the year, the top official added.
The CEO further forecast that DP World’s portfolio would continue to grow in 2019.
In the UAE, however, DP World’s business tumbled 2.7% year-on-year to 15 million TEU in 2018, while gross volumes remained softer in Q4-18.
The ports operator attributed the decline in gross volume in the UAE to the loss of low-margin throughput.
“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,” bin Sulayem added, noting that with his firm’s steady volume portfolio performance, DP World is “well-placed to meet full year 2018 market expectations.”
