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29 March 2024

DPW container volumes up 2.4%

DP World handled 14.2 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the third quarter of 2013, with gross container volumes growing by 2.4 percent on a like-for-like basis.

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By Wam

DP World handled 14.2 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the third quarter of 2013, with gross container volumes growing by 2.4 percent on a like-for-like basis.

This was driven largely by an improved performance from its Asia Pacific and UAE terminals. On a reported basis, gross volumes were flat with a 0.4 per cent decline in the third quarter, reflecting monetisations and divestments made in previous periods.

The UAE delivered a record quarter with 3.6 million TEU handled during the period, representing growth of 5.4 per cent. Volumes for the nine months to September 2013 exceeded 10 million TEU for the first time.

The portfolio of consolidated terminals handled 6.7 million TEU in the third quarter, delivering like-for-like volume growth of 2.0 per cent, driven mainly by the record UAE performance.

Volumes through consolidated terminals in the Asia Pacific and Indian Subcontinent region are showing signs of stability, the company said in a statement.

During the third quarter, the Embraport facility in Brazil began test operations, efficiently serving vessels as it prepares to become fully operational in the fourth quarter this year.

DP World Chairman Sultan Ahmed bin Sulayem, said, "We are very pleased to announce a robust throughput performance for the third quarter of 2013. In particular, our flagship UAE operation has recorded the best quarter in its history, reflecting the continued growth in Dubai, the UAE and the wider region.

The addition of 1 million TEU capacity in June this year and the 4 million TEU of capacity due to come on line in 2014 ensure that the company is well placed to cater for future growth.

"Looking to other developments underway, we continue to make good progress toward the delivery of Embraport, Brazil, which is now serving vessels as it readies for official opening, while London Gateway (UK) remains on track to open in the fourth quarter with its first official vessel call scheduled in November," he said.
 
Group Chief Executive, Mohammed Sharaf, commented, "After a challenging first half in 2013, we are encouraged by the positive uplift witnessed in the third quarter. Accordingly, market guidance remains unchanged as our target remains gross like-for-like volumes in line with 2012.

"With market conditions still uncertain, we continue to focus on driving profitability by targeting higher margin throughput and improving efficiencies. We remain confident of meeting full year market expectations," he concluded.