DP World reports 3 percent volume growth in 2015

DP World reports 3 percent volume growth in 2015

Posted By : STAT Times 08-02-2016 00:00:00


Feb 08, 2016: DP World handled 61.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during 2015, with gross container volumes growing by 3 percent on reported basis and 2.4 percent on a like-for-like basis. Growth in 2015 was largely driven by European and UAE terminals. Utilisation at Jebel Ali remains high at approximately 90 percent despite the softer volumes in Q4 2015. At a consolidated level, DP World terminals handled 29.1 million TEU during 2015, a 2.7 percent improvement on a reported basis. Consolidated volumes grew by 1.7 percent for the year on a like-for-like basis. Sultan Ahmed Bin Sulayem, group chairman and chief executive officer, commented, “The second half of 2015 was difficult for global trade operators, as various economic headwinds including currency weakness and lower commodity prices adversely impacted trade growth. Against this challenging backdrop, all our three regions continued to deliver full year volume growth on a like-for-like basis which demonstrates the strength of our portfolio. “As we look ahead into 2016, we look forward to the new capacity at Rotterdam (Netherlands), Mumbai (India), Prince Rupert (Canada) and Yarimca (Turkey) to deliver a full year contribution to our throughput. We expect to open our third berth at London Gateway (UK) in mid-2016, adding 600k TEU of new capacity. The additional 2 million TEU at terminal three (T3) Jebel Ali (UAE) will now be operational in the second half of 2016.” “DP World has once again delivered ahead of market throughput growth in 2015 and given this resilient performance, we remain confident of meeting full year market expectations. While trading conditions in 2016 are expected to remain challenging, we believe a portfolio focused towards faster growing markets and origin & destination cargo, coupled with the addition of new capacity can continue to outperform the market.”

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