Dubai: DP World Limited handled 46.5 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first nine months of 2015, with gross container volumes growing by 3.2 per cent on a like-for-like basis. On a reported basis gross volumes grew by 3.7 per cent.
The firm said growth in the nine months was largely driven by European and UAE terminals. The UAE handled 11.9 million TEU, representing growth of 4 per cent. It said its European portfolio remained robust despite difficult market conditions while recent capacity addition at Nhava Sheva boosted volumes on the Indian subcontinent. Performance in the Americas has remained challenging due to weak economic conditions.
DP World’s consolidated terminals handled 21.9 million TEU during the first nine months of 2015, a 3.2 per cent improvement when compared with the same period last year. Consolidated volumes increased 2.5 per cent.
Chairman Sultan Ahmad Bin Sulayem said: “Overall, we are pleased with the first nine months’ volume performance particularly given the difficult macroenvironment. We remain confident about the long-term outlook of our industry and continue to invest to meet the future capacity requirements of our customers.
“Our new developments in Rotterdam [Netherlands] and Nhava Sheva [India] are now operational whilst Yarimca [Turkey] and the second phase of terminal three [T3] Jebel Ali [UAE] are due to come online in the near future. Additionally, we closed the acquisition of Fairview Terminal in Canada in August 2015. We look forward to this new capacity aiding volume growth in 2016.”
Group chief executive Mohammad Sharaf said: “Growth rates in the third quarter have softened across the portfolio and the overall macroeconomic outlook remains challenging. However, despite the economic headwinds, our portfolio has delivered a resilient nine-month performance and continues to grow ahead of the market. This once again demonstrates the benefit of operating a global diversified portfolio focused on faster growing markets, and price-making cargo.”
