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DP World optimistic despite H1 volume shortfall

DP World optimistic despite H1 volume shortfall
Dubai-headquartered terminal operator DP World has reported a 5.8% drop in volumes in the first half of 2013 having handled 26.6m teu.

The change represents a 2.1% fall when adjusted after taking into account changes in the company's portfolio including divestments of some terminals.

Citing reduced volumes in Asia Pacific and Indian Subcontinent regions, and Europe, Middle East and Africa regions, DP World has stated its intention to handle higher margin containers to make up the shortfall.

Losses were partially mitigated by a stronger performance in the Americas and Australia, which increased by 2.7% like-for-like. The company also noted a portfolio-wide trend of increasing volumes between Q1 and Q2 2013. “We saw an encouraging uplift in containers handled during the second quarter,” explained Mohammed Sharaf, ceo of DP World.

“The first half saw important progress in the delivery of three major projects in 2013,” added Sultan Ahmed Bin Sulayem, chairman. “In June we welcomed an additional 1m teu capacity at our flagship Jebel Ali Terminal.  This increased capacity is alleviating current constraints and will support future growth in the region.  In the second half of this year, we will deliver developments in Santos and London Gateway.”