Complex Made Simple

DP World’s nine-month container volumes rise 1 per cent

* DP World handled 47.5 million twenty-foot equivalent unit

* Terminals DP World controls handled 21.9 million TEU between January-Spetember

Dubai’s DP World Limited, one of the five biggest port operators in the world, said on Tuesday that it saw a 1 per cent rise in gross container volume on a like-for-like basis and 2.2 per cent on a reported basis for the first nine months this year.

The operator, which has a portfolio of 77 operating marine and inland terminals in 40 countries worldwide, said it handled 47.5 million twenty-foot equivalent units (TEU) during the January-September period.

It said in a statement to the media that conditions in Australia and Latin America were challenging.  But the declining volume growth was offset by strong growth in European and Indian subcontinent terminals.

“Despite the challenging market conditions, particularly in natural resource dependent economies, our portfolio continues to deliver growth, which once again demonstrates the benefits of operating a globally diversified portfolio,” said Sultan Ahmed Bin Sulayem, group Chairman and CEO of DP World.

At a consolidated level, the terminals DP World controls handled 21.9 million TEU during the period under review but the figure was down 2.3 per cent on a like-for-like basis. On a reported basis, volume increased by 0.3 per cent.

“We will continue to maintain capital expenditure discipline by bringing on capacity in line with demand, while focusing on targeting higher margin cargo, improving efficiencies and managing costs to drive profitability. Given the performance in the first nine months, we are well placed to meet full year market expectations,” added Bin Sulayem.