DP World posts 2.5% gross volume growth in H1 2016

Growth in the first half of 2016 was largely driven by a strong performance from its European and Indian subcontinent terminals

At a consolidated level, DP World's terminals handled 14.6 million TEU during the first half of 2016.
At a consolidated level, DP World's terminals handled 14.6 million TEU during the first half of 2016.

Maritime operator DP World handled 31.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first half of 2016, with gross container volumes growing by 2.5% on a reported basis, and up 1.2% on a like-for-like basis.

Growth in the first half of 2016 was largely driven by a strong performance from its European and Indian subcontinent terminals.

Conditions in Australia and Latin America remained challenging while the UAE handled 7.4 million TEU, down 6.0% year-on-year due to a reduction in lower-margin cargo.

At a consolidated level, DP World's terminals handled 14.6 million TEU during the first half of 2016, a 1.6% improvement in performance on a reported basis and down 1.4% year-on-year on a like-for-like basis.

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, commented: “Despite challenging market conditions in the first half of the year, our portfolio continues to deliver growth. We expect the second half of 2016 to show an improved performance as our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) deliver an increasing contribution.

“We continue to focus on driving profitability by targeting higher margin cargo, improving efficiencies and managing costs. We are encouraged by the progress we have made in the first half of 2016, and we remain confident in meeting full year market expectations.”

Most popular

Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020