DP World sees container volumes up 10pc
Dubai, April 30, 2012
DP World, the Dubai-based global marine operator, has seen a 9.5 per cent jump in gross volumes in the first quarter handling 13.8 million TEU (twenty-foot equivalent units) across its global portfolio of marine terminals, said a top official.
Speaking at the annual general meeting, DP World chairman Sultan Ahmed Bin Sulayem said excluding the contribution from new capacity, like for like growth was 7.4 per cent for the year ended December 31, 2011.
'This growth was driven by an excellent performance in our Asia Pacific and Indian Subcontinent region which reported 14.6 per cent growth in volumes as new capacity across the region supported strong growth across our Asia Pacific portfolio, ' he stated.
Bin Sulayem said growth in Europe, Middle East and Africa region was 4.4 per cent with a good performance in the Middle East and Africa mitigating the ongoing challenging operating environment in Europe.
The Americas and Australia region reported growth of 8.7 per cent driven by a very strong performance in the Americas region, he noted.
“Our portfolio of consolidated terminals reported container volumes of 6.6 million TEU. Had our five terminals in Australia not been deconsolidated from the 12 March 2011, underlying growth would have been 5.9 per cent when compared to the same period last year,' said Bin Sulayem.
According to him, Jebel Ali has continued to deliver strong volume growth handling 3.2 million TEU in the first three months of the year, 8.5 per cent ahead of the same period last year.
“The global macroeconomic uncertainty has continued into 2012. With our portfolio focused on the faster growing emerging markets and more stable origin and destination markets, we remain committed to delivering improved operational and financial performance over 2011,” he added.
According to him, the AGM approved several key resolutions including the approval of a dividend of 24 US cents per share for 2011.
The dividend comprises a 10 per cent increase in the underlying dividend to 18.7 US cents per share, supplemented by a special dividend of 5.3 US cents per share reflecting the separately disclosed profit attributable to owners of the company.
This results in a total dividend distribution of $199 million, said the DP World chairman.
Bin Sulayem said the dividend will be paid on May 2 to shareholders on the register as at the close of business on April 10.
Also the AGM saw shareholders voting in favour of the re-appointment of all eight directors of the DP World Board.
Besides Bin Sulayem, the other members are Jamal Majid Bin Thaniah (vice-chairman), Sir John Parker (vice chairman and senior independent director), Cho Ying Davy Ho, Deepak Parekh, David Williams, Mohammed Sharaf (chief executive officer), Yuvraj Narayan (chief financial officer)-TradeArabia News Service