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- Dubai 05:25 06:43 12:11 15:09 17:32 18:50
Dubai's DP World, one of the world's biggest port operators, has reported an 8 per cent rise in gross container volumes on a like-for-like basis in 2014, with the increase at 8.9 per cent on a reported basis.
The port operator said growth in 2014 was largely driven by the Asia Pacific and India Subcontinent region, Europe and UAE terminals. The UAE delivered an impressive performance handling 15.2 million TEU, representing growth of 11.8 per cent for the year.
Europe showed a solid return to volume growth in 2014.
Gross volumes totalled 60 million 20-foot equivalent units (TEU) in 2014, driven by new developments in Britain and Brazil, the company said in a statement.
Volume growth resumed in Europe and there was continued growth in the Asia-Pacific and Indian subcontinent regions.
Consolidated volumes, at terminals over which DP World has control, rose 9.5 per cent on a like-for-like basis in 2014 to 28.3 million TEU. On a reported basis, the increase was 8.7 per cent because of deconsolidation of assets in Hong Kong in June, it added.
“With volume growth of 8.9 per cent in 2014 we believe we have once again outperformed the expected 2014 market growth of approximately 5 per cent,” said DP World Chairman Sultan Ahmed Bin Sulayem.
“This demonstrates that a portfolio focused on origin and destination cargo and faster growing markets continues to be the right strategy to follow. Our new developments at London Gateway and Embraport contributed to our excellent 2014 performance,” he said.
“Our flagship Jebel Ali port continues to reach record highs with 15.2 million TEU handled in 2014. The opening of an additional 2 million TEU capacity in the third quarter of 2014 has alleviated constraint and will provide the capacity we need to achieve further volume growth at Jebel Ali. A further 2 million TEU is expected to come on line in the second half of this year taking total Jebel Ali capacity to 19 million TEU,” he added.
Given the strong volume performance in 2014, Bin Sulayem expects to meet full year market expectations.
“As we look ahead into 2015, we have a number of exciting developments, including new capacity coming on stream in The Netherlands, Turkey, India and the UAE, the development of a logistics hub in Belgium and further integrated ports and logistics solutions for our customers with the completion of our Jafza acquisition,” he said.
“Although some of our terminals continue to operate in a challenging macro environment, market conditions across the portfolio are expected to be generally favourable in 2015. This coupled with the addition of new capacity, stands us in good stead for volume growth in line or slightly ahead of the market this year.”
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