DP World operates 48 marine terminals and 13 new port developments in 31 countries worldwide. However, as one of the world’s largest container operators, DP World (DPW) has been hit hard by the decline in trade volumes caused by the global recession.
The company said in a statement last month it would postpone plans to increase capacity until it saw demand pick up. It reported an eight percent drop in trade volumes in the first two months of 2009. It also said it had made 100 staff redundant.
Despite a 19 percent rise in 2008 net profit to $572m, DPW experienced a steep drop in profit in the last quarter of the year. The company said it would consider all available options to address the fall in its share price, which hit a low of $0.17 on Mar 5 after a high of $1.25 on Jan 4, 2008.