Dubai: DP World saw a 3.7 per cent increase in the volume of cargo handled at its global portfolio of container ports in the first quarter of 2016.
DP World chairman Sultan Ahmad Bin Sulayem said the total volume reached 15.5 million twenty-foot equivalents (TEUs), a standard measure for container cargo.
He added that “gross container volumes growing by 3.7 per cent on a reported basis, and up 2.4 per cent on a like-for-like basis”.
“First quarter growth was largely driven by a stronger performance from our European and Indian subcontinent terminals,” he said. “Conditions in Latin America remain challenging while the UAE handled 3.6 million TEU, down 5.9 per cent year-on-year due to loss of lower-margin cargo.”
Bin Sulayem said now-operational developments in Rotterdam, in the Netherlands, Nhava Sheva in India and Turkey’s Tarimca were expected to increase contributions during the second quarter of 2016.
Well positioned
A 2 million TEU capacity expansion at Jebel Ali and 1 million TEU expansion at London Gateway were due to come online in mid-2016.
“Overall, we remain well positioned to grow volumes ahead of the market,” he said, “while we continue to focus on driving profitability by targeting higher margin cargo, improving efficiencies and managing costs. Our encouraging start to the year gives us confidence in meeting full year market expectations.”
