DP World H1 throughput crosses 20m TEU

Dubai, July 30, 2009

DP World, a leading global marine terminal operator, has handled more than 20 million TEU (twenty-foot equivalent container units) across its portfolio of 49 terminals in the first six months of 2009.

Those terminals that are consolidated for accounting purposes reported a throughput of 12.3 million TEU, a decline of 10 per cent against the same period last year.

Despite this decline in volume, DP World continued to outperform the market, given its diversified global port portfolio favouring those markets where container trade volumes have been less impacted by the challenging macroeconomic climate, in particular across the Middle East.

For the first six months of the year, the UAE reported a seven per cent decline in volumes to 5.4 million TEU.

In the first half of the year the marine operator opened its new terminal development at Doraleh, Djibouti and two terminals in Algeria, at Algiers and Djen-Djen, have joined its network taking the total number of operational terminals to 49 terminals across 27 countries.

“The first six months of 2009 have seen some of the most challenging operating environments our industry has ever known,” said Mohammed Sharaf, chief executive officer of DP World.

Whilst DP World has performed better than the market, the 10 per cent decline in consolidated volumes will lead to an inevitable decline in first half profit before tax  against the same period last year.

“The unpredictable trends in global trade we have seen in the first half of the year continue into the second half of the year,” Sharaf continued.

“Our terminals remain very focused on cost cutting and improving efficiencies to minimise the impact of declining volumes on profitability. We are also ensuring that our portfolio emerges in a highly competitive position to benefit from recovery in global trade. At this stage we expect to deliver full year results in line with expectations,” he added. – TradeArabia News Service

Tags: DP World | Dubai | Terminals | TEU |