Monday, July 28, 2014

DP World reports 9 percent cargo growth in first half

DP World Limited handled 29.4 million TEUs during the first six months of the year, reflecting container volume growth of 9.3 percent year-over-year, according to a company statement.

The company said new capacity at DP terminals at Embraport in Brazil and at London Gateway contributed to the increase.

DP World said the cargo growth in the first half was "largely driven" by improved efficiency at the Asia Pacific and Indian Subcontinent, Europe and UAE terminals. The UAE terminals handled 7.4 million TEUs, growing 14.1 percent, the statement said.

"Our flagship Jebel Ali port continues to achieve new records, with 3.8 million TEU handled in the second quarter," said Chairman Sultan Ahmed Bin Sulayem. "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."

At a consolidated level, the terminals handled 13.9 million TEU in the first sixth months, up 11.2 per cent when adjusted for consolidated volume growth for the monetization of Hong Kong and new capacity at London Gateway.

"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," Sulayem said.


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