DP World container volumes up 10pc in Q3
Dubai, October 25, 2011
DP World’s global portfolio of container terminals has delivered another solid quarter, handling gross volumes of 14.4 million TEU in the third quarter of 2011, an increase of 10 per cent over the same period last year.
Gross volumes for the first nine months of the year were 40.6 million TEU or 11 per cent ahead of the previous year.
This performance was driven by strong growth in the Asia Pacific, UAE, Africa and Americas regions, as well as new volumes from recently acquired Suriname and additional capacity in Callao, Peru and Qingdao, China. Like for like gross volume growth was 9 per cent, the company said.
For the first nine months of the year, DP World’s UAE terminals handled 9.5 million TEU or 11 per cent more than the same period last year.
Sultan Ahmed Bin Sulayem, chairman of DP World, said: “DP World has delivered another very strong performance in the third quarter of the year, resulting in over 40.6 million containers handled so far this year. This 11 per cent growth in volumes when compared to last year continues to reflect our focus on the faster growing emerging markets, resulting in another performance well ahead of the industry.
“The UAE region has continued to do well with the third quarter delivering excellent growth as Dubai continues to strengthen its position as a global trading hub for the fast growing economies of the Middle East, India and Africa”.
Mohammed Sharaf, chief executive of DP World, said: “Whilst uncertainty continues to affect the global economy our business continues to perform well. Despite the tougher fourth quarter comparatives, we continue to believe that we will achieve full year EBITDA in line with expectations.”
DP World operates more than 60 terminals across six continents, with container handling generating around 80 per cent of its revenue. In addition, the company currently has 10 new developments and major expansions underway in 10 countries. – TradeArabia News Service