Dubai: Dubai Ports World yesterday said its first quarter volumes rose 15 per cent to 11.2 million twenty-foot equivalent containers (TEUs) compared to the same period last year.
"During the first quarter of 2010, the industry saw continued signs of a return to container volume growth around the world," chief executive Mohammad Sharaf said in a statement.
"It is however too early to confirm sustainability, as the macroeconomic environment and global trade patterns remain somewhat unpredictable, impacting traders and their shipping requirements," he said.
Revenue or profit figures for the first quarter of one of the world's largest port operators were not revealed. "Growth across 49 operational terminals was driven by strong growth in Asia Pacific and Australia," Sharaf said.
Meanwhile, Nasdaq Dubai-listed DP World's consolidated terminals saw a 6 per cent increase in volumes to 6.3 million TEUs, driven by volume growth in the Indian subcontinent and Australia as well as some volume growth returning to European ports, the company said.
In the UAE, DP World's ports, including those at Jebel Ali and Port Rashid in Dubai, saw consolidated growth of 1 per cent, handling 2.6 million TEUs. Sharaf said the country is seeing "an encouraging start to the year".
The chief executive said the company would witness a better financial performance this year compared to 2009. Last year, its consolidated throughput declined by about 8 per cent, handling 25.6 million TEUs.
Across all 50 operational terminals in 2009, it handled 43.4 million TEUs, a decline of 6 per cent from 2008. It recorded a 46 per cent fall in full-year net profit during 2009 after global trade took a beating as a result of the economic downturn mainly in developed nations. Total revenues for 2009 fell 14 per cent to $2.8 billion (Dh10.4 billion) on pricing pressure and volume decline, according to the company's website.
