We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Wed 5 Feb 2014 12:22 PM

Font Size

- Aa +

Dubai's DP World says consolidated volumes slip 3.8% in 2013

The port operator has been selling assets globally, exiting markets where it does not have a significant presence

Dubai's DP World says consolidated volumes slip 3.8% in 2013

Dubai's DP World, the world's third biggest port operator, said on Wednesday its consolidated container volumes slipped 3.8 percent in 2013 after the firm sold one of its Hong Kong assets, but rose 0.7 percent on a gross like-for-like basis.

DP World, one of the more profitable assets of Dubai World, said terminals controlled by the company handled 26 million TEU - or twenty-foot equivalent container units - during the year. This compares to 27.1 million TEU in the year-earlier period.

But gross volumes - which include more terminals - rose slightly in like-for-like terms, DP World said.

The port operator has been selling assets globally, exiting markets where it does not have a significant presence and seeking to redeploy funds in fast-growing markets.

Arabian Business: why we're going behind a paywall

For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.