Container Volumes Up at DP World

DP World Limited handled 29.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first half of 2014, with gross container volumes growing by 9.3% on a like-for-like basis.

On a reported basis gross volumes grew by 10.7% with new volumes at London Gateway (UK) and Embraport (Brazil) contributing to the increase.

Growth in the first half was largely driven by an improved performance from the company’s Asia Pacific and India Subcontinent, Europe and UAE terminals.

The UAE delivered another strong performance handling 7.4 million TEU, representing growth of 14.1% in the first half.

Growth in Europe continued to accelerate in the second quarter, showing strong growth in the first half of 2014 when compared with the challenging first half of 2013.

At a consolidated level, DP terminals handled 13.9 million TEU during the first half of 2014, an 11.2% improvement in like-for-like performance.

On a reported level, the growth rate of 8.5% in consolidated volumes reflects the deconsolidation of Hong Kong assets in March last year.

DP World Chairman Sultan Ahmed Bin Sulayem said: “As anticipated, we have seen a return to healthy volume growth in 2014 due to the addition of new capacity and a pick-up in global trade.

After a strong first quarter we have continued the positive momentum reporting an even stronger second quarter and overall very solid half year numbers.

Our flagship Jebel Ali port continues to achieve new records, with 3.8 million TEU handled in the second quarter.

We will shortly open an additional 2 million TEU capacity at Terminal 3 with a further 2 million coming on line later in the year.

This will take total Jebel Ali capacity to 19 million TEU, ensuring that we are well placed to handle future capacity demands in Dubai.”

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Press Release; July 24, 2014