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Saturday, November 21 - 2009

DP World announces its report for first nine months of 2009

  • United Arab Emirates: Tuesday, October 27 - 2009 at 15:00
  • PRESS RELEASE

DP World reports container volumes for the nine months to 30 September 2009 some 8% lower than the same period last year, reflecting a stronger third quarter with volumes in that period only 6% lower than the third quarter last year.

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In the third quarter, volumes in the UAE region were in line with the same period last year, resulting in volumes for the first nine months of the year down only 5% against the prior period.

In August, the region handled just over a million TEU's reflecting the continued resilience of the Middle East, Indian Subcontinent and African regions to the global economic downturn.

Mohammed Sharaf, Chief Executive Officer, DP World, commented:
"We are encouraged that trading in the third quarter of this year has seen volumes begin to stabilise after the significant declines of the first half. We are beginning to see early signs of stability across the industry and container volumes across our three reporting regions all reported more containers handled in the third quarter this year than in the second quarter."


"The final quarter of 2009 will continue to present challenges with tough prior year comparators, particularly in the UAE region where we also anticipate a continuation of significant non-container revenue declines. More widely, our terminals remain acutely focused on maintaining revenues and managing costs and we continue to believe we will deliver 2009 results in line with market expectations," added Sharaf.
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Notes and media contacts

About DP World:

DP World is one of the largest marine terminal operators in the world, with 50 terminals and 12 new developments across 32 countries. Its dedicated, experienced and professional team of nearly 30,000 people serves customers in some of the most dynamic economies in the world.

DP World aims to enhance customers' supply chain efficiency by effectively managing container, bulk and other terminal cargo.

The company constantly invests in terminal infrastructure, facilities and people, working closely with customers and business partners to provide quality services today and tomorrow, when and where customers need them.

In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship Jebel Ali facility in Dubai, which has been voted "Best Seaport in the Middle East" for 15 consecutive years.

In 2008, DP World handled more than 46.8 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia - an increase of 8% on 2007. With a pipeline of expansion and development projects in key growth markets, including India, China and the Middle East, capacity is expected to rise to around 95 million TEU over the next ten years.

www.dpworld.com.

Investor inquiries:

Fiona Piper
DP World
Direct: +971 4 8080725

Media enquiries:

Sarah Lockie
Senior Vice President
Corporate Communications
DP World
Direct: +971 4 8080835

Media Department
Dubai World
PO Box 17000
Dubai, UAE
Tel: +971 4 8818808
Fax: +971 4 8817722

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