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DP World achieves 46.5m teu in first nine months

DP World achieves 46.5m teu in first nine months
Port operator DP World has handled 46.5m teu across its global portfolio of container terminals during the first nine months of this year, with volumes growing 3.2% year-on-year.

DP World pointed out that the growth was largely driven by Europe and UAE terminals. The Indian subcontinent also delivered improved performance as it benefitted from the recent capacity addition at Nhava Sheva. Performance in the Americas has remained challenging due to continued weak economic conditions.

DP World chairman Sultan Ahmed Bin Sulayem commented: “Our new developments in Rotterdam (Netherlands) and Nhava Sheva (India) are now operational whilst Yarimca (Turkey) and the second phase of terminal three (T3) Jebel Ali (UAE) are due to come online in the near future. Additionally, we closed the acquisition of Fairview Terminal in Canada in August 2015. We look forward to this new capacity aiding volume growth in 2016”.  

In the near term, the company will continue to focus on improving efficiency and managing costs to maintain profitability, according to Mohammed Sharaf, group chief executive.

“Growth rates in the third quarter have softened across the portfolio and the overall macro-economic outlook remains challenging. However, despite the economic headwinds, our portfolio has delivered a resilient nine month performance and continues to grow ahead of the market,” he said.