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Thu 24 Jul 2014 03:29 PM

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Dubai's DP World says volumes up 10.7% in H1

One of the world's biggest port operators sees performance boosted by new business at its London, Brazil facilities

Dubai's DP World says volumes up 10.7% in H1

DP World, one of the world's biggest port operators, said on Thursday that its gross container volumes rose 10.7 percent from a year earlier in the first half of 2014.

Volumes totalled 29.4 million twenty-foot equivalent units (TEU), boosted by new business at its London Gateway facility and Embraport in Brazil.

Consolidated volumes, at terminals over which DP World has control, rose 8.5 percent to 13.9 million TEU.

Chairman Sultan Ahmed Bin Sulayem said: “We are very pleased with our throughput performance in the first half of the year. As anticipated, we have seen a return to healthy volume growth in 2014 due to the addition of new capacity and a pick-up in global trade.

"After a strong first quarter we have continued the positive momentum reporting an even stronger second quarter and overall very solid half year numbers.

“Our flagship Jebel Ali port continues to achieve new records, with 3.8 million TEU handled in the second quarter. We will shortly open an additional 2 million TEU capacity at Terminal 3 with a further 2 million coming on line later in the year. This will take total Jebel Ali capacity to 19 million TEU, ensuring that we are well placed to handle future capacity demands in Dubai.”

Group CEO Mohammed Sharaf added: “Our impressive performance in the first half of 2014 shows we have the right capacity in the right locations. The market is forecast to grow at approximately five percent in 2014, and we remain confident in our ability to outperform it.

“As always, we continue to focus on driving profitability by targeting higher margin throughput while containing costs and improving efficiencies. Overall performance remains in line with our expectations.”

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