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TERMINALS HANDLE 29.1m TEU

DP World's growth largely driven by European and
UAE terminals

DP World volume grows 3pc in 2015

DUBAI, February 8, 2016

DP World Limited handled 61.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during 2015, with gross container volumes growing by 3 per cent on reported basis and 2.4 per cent on a like-for-like  basis.  

Growth in 2015 was largely driven by European and UAE terminals. The portfolio benefited from the ramp-up in London Gateway and the UAE handled a record 15.6 million TEUs, representing like-for-like growth of 2.3 per cent for the year.

Utilisation at Jebel Ali remained high at approximately 90 per cent despite the softer volumes in the fourth quarter of 2015. Market conditions in the second half of 2015 were challenging, with like-for-like gross throughput growth flat year-on-year in Q4, 2015, it said.
 
At a consolidated  level, DP World terminals handled 29.1 million TEU during 2015, a 2.7 per cent improvement on a reported basis. Consolidated like-for-like volumes grew by 1.7 per cent for the year.

Meanwhile, DP World has appointed Sultan Ahmed bin Sulayem as group chairman and chief executive officer with immediate effect. He became chairman of DP World in May 2007 and has overseen DP World's expansion, including the acquisitions of CSX and the P&O Group to become a leading global marine terminals operator.

Deepak Parekh, senior independent non-executive director, said: "The board is delighted that His Excellency Sultan Ahmed bin Sulayem has agreed to become group CEO in addition to his role as chairman.  It is the unanimous view of the independent non-executive directors that Sultan is the right candidate to ensure continuity of leadership. His extensive experience and proven track-record makes him extremely well placed to lead the group to the next level."

Bin Sulayem said: “The second half of 2015 was difficult for global trade operators, as various economic headwinds including currency weakness and lower commodity prices adversely impacted trade growth. Against this challenging backdrop, all our three regions continued to deliver full year volume growth on a like-for-like basis which demonstrates the strength of our portfolio.    

"Despite the uncertain near-term macro environment, and given the high utilisation at our portfolio, we remain confident about the medium to long-term outlook of our industry and continue to invest to meet the future capacity requirements of our customers. As we look ahead into 2016, we look forward to the new capacity at Rotterdam (Netherlands), Mumbai (India), Prince Rupert (Canada) and Yarimca (Turkey) to deliver a full year contribution to our throughput," he said.

The third berth at London Gateway (UK) is expected to open in mid-2016, adding 600,000 TEU of new capacity. The additional 2 million TEU at terminal three (T3) Jebel Ali (UAE) will be operational in the second half of 2016.

“DP World has once again delivered ahead of market throughput growth in 2015 and given this resilient performance, we remain confident of meeting full year market expectations. While trading conditions in 2016 are expected to remain challenging, we believe a portfolio focused towards faster growing markets and origin and destination cargo, coupled with the addition of new capacity can continue to outperform the market,” said Bin Sulayem. - TradeArabia News Service
 




Tags: DP World | container | Terminal |

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