UAE’s DP World Q3 consolidated volume up 2%

World's third-largest port operator cited improved performance from its Asia Pacific and UAE terminals

DP World, the world's third-largest port operator, reported on Tuesday a two percent rise to 6.7 million TEU (twenty-foot equivalent units) in consolidated container volumes for the third quarter, on a like-for-like basis.

The company, one of the more profitable assets of debt-laden Dubai World, also said that on an unconsolidated basis, it handled 14.2 million TEU in the quarter, up 2.4 percent from a year earlier like-for-like.

Including the impact of divestments over the past year, unconsolidated volume declined 0.4 percent in the quarter.

DP World cited an "improved performance from our Asia Pacific and UAE terminals", with the UAE accounting for 3.6 million TEU.

"After a challenging first half in 2013 we are encouraged by the positive uplift witnessed in the third quarter - market guidance remains unchanged as our target remains gross like-for-like volumes in line with 2012," chief executive Mohammed Sharaf said in a statement.

"With market conditions still uncertain, we continue to focus on driving profitability by targeting higher margin throughput and improving efficiencies."


Market Performance

DP World - UAE
-0.06 -0.33 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Smart move: Automated transport in the Gulf

Smart move: Automated transport in the Gulf

In a few short years how we get from A to B will be dramatically...

How technology is revving up the future of driving

How technology is revving up the future of driving

Technology firms have been investing in autonomous driving for...

Could the GCC have a free zone-free future?

Could the GCC have a free zone-free future?

Free zones, particularly attached to major ports, have become...

Most Discussed