DP World UAE volumes down by 5.9 per cent

01 May 2016

Overall portfolio registers 3.7 per cent growth in first quarter

DP World handled 15.5 million 20-foot equivalent units (TEUs) across its global portfolio in the first quarter of 2016, a 3.7 per cent increase compared with the same period the previous year.

Closer to home, the picture is less rosy with container volumes in UAE down by 5.9 per cent during the first quarter. “The UAE handled 3.6 million TEUs, down 5.9 per cent year-on-year due to loss of lower-margin cargo,” DP World chairman Sultan Ahmed bin Sulayem said in a statement.

Apart from the UAE, conditions in Latin America also remain challenging, the statement said.

The overall container volume growth is also more moderate at 2.4 per cent, if the company excludes volumes at Yarimca (Turkey), Stuttgart (Germany), Rotterdam (the Netherlands) and Prince Rupert (Canada), the company reported. These ports are understood to have come under DP World’s management after the first quarter of last year.

”First-quarter growth was largely driven by a stronger performance from our European and Indian subcontinent terminals,” Bin Sulayem said.

The executive announced that the coming online of ports in Rotterdam, Nhava Sheva (India) and Yarimca is expected to deliver an increasing contribution in the second half of 2016.

“The additional 2 million TEUs of capacity at Jebel Ali and 1 million TEUs of capacity in London Gateway are on course to be delivered in mid-2016, which will offer further room for growth,” Bin Sulayem added.








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