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DP World reports 10.7% growth in volumes for H1

DP World reports 10.7% growth in volumes for H1
DP World (DPW) handled 29.4m teu in the first half of 2014, an increase of 9.3% year-on-year excluding London Gateway and Embraport in Brazil, and 10.7% including the new ports.

The figure represents strong growth compared to a 5.7% drop in volumes for the same period last year.

Success was attributed in large part to “improved performance” at terminals in the Asia Pacific region, India Sub-continent, Europe, and UAE. DPW cited in particular 14.1% H1 growth - or 7.4m teu - in the Middle-East region alone, as well as “encouragingly” accelerating growth in Europe, comparing favourably to 2013’s year-on-year drop in H1 volumes during which time only 9.1m teu was handled in Europe, the Middle East and Africa combined.

“Our flagship Jebel Ali port continues to achieve new records, with 3.8m teu handled in the second quarter,” said DPW chairman Sultan Ahmed Bin Sulayem. “We will shortly open an additional 2m teu capacity at Terminal 3 with a further 2m coming on line later in the year.  This will take total Jebel Ali capacity to 19m teu, ensuring that we are well placed to handle future capacity demands in Dubai.”

“We are very pleased with our throughput performance in the first half of the year. As anticipated, we have seen a return to healthy volume growth in 2014 due to the addition of new capacity and a pick-up in global trade.  After a strong first quarter we have continued the positive momentum reporting an even stronger second quarter and overall very solid half year numbers.

Meanwhile chief executive Mohammed Sharaf predicted market growth of 5% throughout 2014. "We remain confident in our ability to outperform it.”

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