DP World's Volumes 8.9% up in 2014
Dubai-based marine terminal operator DP World Limited says it handled 60 million TEU across its global portfolio of container terminals in 2014, with gross container volumes growing by 8.9%.
The ports operator said growth was driven by the Asia Pacific and Indian subcontinent regions as well as its European and UAE terminals. On a like-for-like basis, i.e. not counting the new volume at London Gateway and Embraport, DP World says container volumes for the year grew by 8.0%.
The UAE delivered an impressive performance handling 15.2 million TEU, representing growth of 11.8 per cent for the year. Europe showed a solid return to volume growth in 2014.
Consolidated volumes, at terminals over which DP World has control, rose 9.5 per cent on a like-for-like basis in 2014 to 28.3 million TEU. On a reported basis, the increase was 8.7 per cent because of deconsolidation of assets in Hong Kong in June, it added.
“With volume growth of 8.9 per cent in 2014 we believe we have once again outperformed the expected 2014 market growth of approximately 5 per cent,” said DP World Chairman Sultan Ahmed Bin Sulayem.
“Our flagship Jebel Ali port continues to reach record highs with 15.2 million TEU handled in 2014. The opening of an additional 2 million TEU capacity in the third quarter of 2014 has alleviated constraint and will provide the capacity we need to achieve further volume growth at Jebel Ali. A further 2 million TEU is expected to come on line in the second half of this year taking total Jebel Ali capacity to 19 million TEU,” he added.
Given the strong volume performance in 2014, Bin Sulayem expects to meet full year market expectations.
