DP World handled 3.2% more containers year-over-year in 2016, helped by higher volumes in Europe and Asia.
DP World handled the equivalent of 63.7 million 20-foot containers in the 12-month period, up from 61.7 million in 2015, the company said on Tuesday. On a like-for-like basis, gross container volumes grew 2.2%.
The operator said its globally diverse portfolio helped it grow despite generally tough conditions for international trade.
A slowdown at the company’s flagship port in the United Arab Emirates—mainly due to a decline in lower-margin cargo—weighed on the company’s performance last year, according to DP World. Its U.A.E. operation handled 14.8 million standard-sized containers, down 5.3% on the year.
But volumes are stabilizing in the U.A.E., said Sultan Ahmed Bin Sulayem, the group’s chairman and chief executive.
The company expects its new developments in Rotterdam, Netherlands, Nhava Sheva, India, London Gateway, U.K. and Yarimca, Turkey to drive growth in our portfolio this year, he added.
“We will continue to maintain capital expenditure discipline by bringing on capacity in line with demand, while focusing on targeting higher margin cargo, improving efficiencies and managing costs to drive profitability,” Mr. Sulayem said.