Friday , 20 September 2019
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DP World reports 9.0% like-for-like Q3 volume growth

DP World handled 44.8m teu across its global portfolio of container terminals during the first nine months of 2014, with gross container volumes growing by 9% on a like-for-like basis.  On a reported basis gross container volumes grew by 10.1%, with new volume at London Gateway (UK) and Embraport (Brazil) contributing to the increase.

Growth for the nine month period was largely driven by the Asia, Pacific and India Subcontinent region, Europe and UAE terminals; the UAE delivered another strong performance handling 11.4m teu, representing growth of 12.6% year-on-year.

The company said it remained encouraged by the performance of its facilities in Europe, which continued to display strong volume growth

At a consolidated level, the operator’s terminals handled 21m teu over the period, a 9.9% improvement in like-for-like performance. On a reported level, the growth rate of 8.6% in consolidated volumes reflects the deconsolidation of Hong Kong assets in June last year.

Commenting on the Q3 result, chairman Sultan Ahmed Bin Sulayem, said: “Volume growth for the first nine months of 2014 has been impressive, and we remain encouraged by the third quarter performance, which has grown 8.4% year-on-year on a like-for-like basis. It is evident that the significant investment of recent years is aiding in the delivery of stronger volume growth”.

“Our flagship Jebel Ali port achieved yet another new record, with 4m teu handled in the third quarter. The port is operating at almost maximum utilisation and we are therefore pleased to announce that Terminal 3 is now operational, adding 2m teu capacity.   A further 2m teu is expected to come on line in the second half of 2015, taking total Jebel Ali capacity to 19m teu. This is part of our commitment to invest to meet future capacity demands in Dubai.”

“The solid nine-month performance leaves us well placed to outperform the market, which is forecast to grow at approximately 5% in 2014,” he added.