DP World is confident it will meet revenue expections for the full year 2016 based on its strong performance for the first half of the year, and despite a challenging market environment and slowing global trade.
DP Worlds revenue and earnings grew 10.2 per cent and 50 per cent, respectively in the first six months of 2016 compared to the same period in 2015.
The company said that while it is difficult to forecast how they will perform in the second half, they are taking comfort from their historical track record where they have always managed to meet expectations even in difficult market situations.
We are looking at the improved performance of the terminals in Rotterdam, India, Turkey and UK to help us meet our target for the full-year 2016, DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said on 18 August at a press conferece following the announcement of its first half results.
Bin Sulayem also said DP Worlds feasibility study for the use of Hyperloop systems at Dubais Jebel Ali port will take 90 days and should be ready before the yearend.
We are launching a full study to look into the reliability, efficiency and suitability of the Hyperloop system with our operations in Jebel Ali, Bin Sulayem said on 18 August during a press conference following the release of its financial performance for the first half of 2016.
DP World is looking at using the super-fast Hyperloop pods for moving containers from ships docked at the Jebel Ali port to a new inland container depot.
We will also see what we can contribute to the system, the executive added, citing that the Hyperloop has the potential to dramatically change the overall transportation and logistics sector.
Hyperloop is an open-source technology, which means independent firms can develop compliant systems based on its design or contribute to enhance its design.
The Hyperloop trademark is registered under Space Exploration Technologies (SpaceX), a US company founded by Elon Musk, who is also co-founder, CEO and product architect at US-based electric car manufacturer Tesla Motors.