DP World container slowing down to only 1.9% growth in 2018
DP World, the world’s fourth-largest port operator, reported a 1.9 per cent year-on-year increase in container volumes globally in 2018. The company handled 71.4 million twenty-foot equivalent units (TEU) – the measurement for container volumes – last year across its global portfolio, slightly above the previous year.
“Our global portfolio has delivered growth on top of our strong prior year performance and despite the uncertainty with global trade,” Sultan bin Sulayem, group chairman and chief executive of DP World said in a statement on Tuesday.
Expanding Jebel Ali Free Zone
DP World operates Jebel Ali, a major transshipment port and the largest port in the UAE, and the Mina Rashid port.
Last week, DP World announced plans to spend between Dh500 million and Dh1 billion to expand Jebel Ali free zone this year and said it was scouting for new acquisitions following a deal to buy a Chilean ports operator last month.
DP World expects to deliver growth in 2019
The operator said strong growth was recorded in the UK, Turkey and Canada thanks to continued ramp-up, while the company’s performance in Africa “remained robust” driven by growth in Senegal and Egypt, Mr bin Sulayem said.
“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,” the chairman added.
©TheNational, Abu Dhabi
