DP WORLD REPORTS FLAT GROSS VOLUME
IN FIRST QUARTER OF 2019
DP World PLC handled 17.5 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2019, with gross container volumes declining by 0.6% year-on-year on a reported basis.
Gross like-for-like volumes declined by 0.7% in 1Q2019 due to the higher year-on-year comparables (1Q2018 like-for-like volumes grew 8.4%), and softer volumes in the UAE and Australia.
The UAE handled 3.5 million TEU in 1Q2019, down -8.8% year-on-year, due to the challenging macroenvironment and loss of lower-margin cargo. Growth in Americas, Africa and Indian Subcontinent was robust with strong growth in Callao (Peru), Sokhna (Egypt) and Mumbai (India).
At a consolidated level, our terminals handled 9.2 million TEU during the first quarter of 2019, a decline of 0.8% on a reported basis and down 3.0% year-on-year on a like-for-like basis. Reported consolidated volume in the Americas and Australia region was boosted by the consolidation of Australia from March of 2019.