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DP World volumes grow 11pc in H1

Dubai, July 26, 2011

DP World, the Dubai-based global marine operator, has registered gross volumes for the first six months of the year at 26.2 million TEU, marking an increase of 11 per cent over the same period last year.

This performance was driven by strong growth in the Asia Pacific, UAE, Africa and Americas regions, as well as new volumes from recently opened capacity in Callao, Peru and Qingdao, China. Like for like gross volume growth was 10 per cent.

The portfolio of consolidated terminals handled 13.5 million TEU in the first six months of the year.

The UAE handled 6.1 million TEU in the first six months of the year, with a record 3.1 million TEU handled during April, May and June.

“DP World has delivered a very strong performance in the second quarter of the year, resulting in over 26 million containers handled for the first six months of the year, delivering a performance ahead of the industry, reflecting our positioning in the faster growing emerging markets,” said Mohamed Sharaf, chief executive officer, DP World.

“We are particularly pleased to see the UAE achieving another milestone in container handing volumes with a record 6.1 million TEU handled in six months. The strong container volumes seen in the first half of the year will result in a significant improvement in first half profit after tax against the same period last year.”

“As we go into the second half of the year, there is some uncertainty around the global economy making it difficult to forecast how global trade will develop.  Whist this uncertainty is not, as yet, reflected across our portfolio, and with our focus on the more resilient emerging markets we still expect to deliver full year results in line with expectations,” he added.

“We have continued to invest in new capacity and our development in Vallarpadam, India and Karachi, Pakistan both opened in the first quarter of the year and are making good progress,” Sharaf concluded. – TradeArabia News Service




Tags: DP World | Dubai | 2011 | First half | TEU | volumes |

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