Dubai-based ports operator DP World has announced a growth of 12 per cent across its 49 terminals in the first quarter of 2011.
In the first three months of the year, DP World saw total volumes of 12.6 million twenty-foot equivalent units (TEUs) driven by strong growth in the UAE, Africa and the Americas region.
The UAE saw a 12 per cent growth in volumes compared to the same time last year, with three million TEUs handled.
Mohammad Sharaf, chief executive of DP World, says that he remains confident of delivering a better performance in the country in 2011 than 2010.
Sharaf also confirms that the company remains on track to list on the London Stock Exchange at the end of May or early June.
DP World achieved a net profit of $450m in 2010 (MEED 24:3:11).
In December 2010, the firm sold a 75 per cent stake in its Australian ports for $1.5bn as it moved to reduce its debt. Under the terms of the deal, DP World will keep a 25 per cent stake in its Australian port operations and will continue to manage the ports in Brisbane, Sydney, Melbourne, Adelaide and Fremantle.