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DP World first half volume up 4.1pc, owned terminals lift 14.4 million TEU
DUBAI's global ports operator DP World posted a 4.1 per cent year-on-year first half throughput from its portfolio of container terminals worldwide.
Consolidated volumes, at terminals over which DP World has full control, rose 3.5 per cent to 14.4 million TEU.
Growth was largely driven by Europe and United Arab Emirates terminals, with UAE volume growing six per cent, with Europe showing steady increases despite a difficult geopolitical environment.
"Full-year market volume growth is now forecast to be at three per cent and DP World is expected to perform ahead of the market," said chief executive Mohammed Sharaf
DP World said its port in Yarimca, Turkey, was on track to launch in the fourth quarter, while its proposed acquisition of Fairview Terminal in Canada was expected to close in the second half of 2015.
It said it also expects to add two million TEU of capacity at Terminal 3 of its home port of Jebel Ali in the second half.
The Asia Pacific and the Indian subcontinent region delivered an improved performance in the second quarter and the recent capacity addition at Nhava Sheva (India) should provide further room for growth.
Performance in the Americas and Australia region has been broadly flat due to soft economic conditions.
Said chairman Sultan Ahmed Bin Sulayem: "I am pleased to report that we have made good progress with our new developments, with Rotterdam and Nhava Sheva now operational while Yarimca is on track for launch in the fourth quarter of 2015.
"Our flagship Jebel Ali Port continues to respond to market demand and we are on track to deliver an additional two million TEU of capacity in Terminal 3 in the second half 2015," he said.
"Jebel Ali operates at high levels of utilisation and given the strong domestic and regional growth outlook including the lead up to Expo 2020, we are delighted to announce construction of Terminal 4, which will deliver phase one new capacity of 3.1 million TEU by 2018," said Mr Bin Sulayem.
"This will take total Jebel Ali capacity to 22.1 million TEU and will ensure our flagship asset continues to have sufficient capacity to serve the future growth demand of the UAE and the wider region," he said.
Consolidated volumes, at terminals over which DP World has full control, rose 3.5 per cent to 14.4 million TEU.
Growth was largely driven by Europe and United Arab Emirates terminals, with UAE volume growing six per cent, with Europe showing steady increases despite a difficult geopolitical environment.
"Full-year market volume growth is now forecast to be at three per cent and DP World is expected to perform ahead of the market," said chief executive Mohammed Sharaf
DP World said its port in Yarimca, Turkey, was on track to launch in the fourth quarter, while its proposed acquisition of Fairview Terminal in Canada was expected to close in the second half of 2015.
It said it also expects to add two million TEU of capacity at Terminal 3 of its home port of Jebel Ali in the second half.
The Asia Pacific and the Indian subcontinent region delivered an improved performance in the second quarter and the recent capacity addition at Nhava Sheva (India) should provide further room for growth.
Performance in the Americas and Australia region has been broadly flat due to soft economic conditions.
Said chairman Sultan Ahmed Bin Sulayem: "I am pleased to report that we have made good progress with our new developments, with Rotterdam and Nhava Sheva now operational while Yarimca is on track for launch in the fourth quarter of 2015.
"Our flagship Jebel Ali Port continues to respond to market demand and we are on track to deliver an additional two million TEU of capacity in Terminal 3 in the second half 2015," he said.
"Jebel Ali operates at high levels of utilisation and given the strong domestic and regional growth outlook including the lead up to Expo 2020, we are delighted to announce construction of Terminal 4, which will deliver phase one new capacity of 3.1 million TEU by 2018," said Mr Bin Sulayem.
"This will take total Jebel Ali capacity to 22.1 million TEU and will ensure our flagship asset continues to have sufficient capacity to serve the future growth demand of the UAE and the wider region," he said.
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