DP World reports 9.3% in first half of 2014

DP World Limited handled 29.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first half of 2014, with gross container volumes growing by 9.3 per cent on a like-for-like basis.
On a reported basis gross volumes grew by 10.7 per cent with new volume at London Gateway (UK) and Embraport (Brazil) contributing to the increase.
Growth in the first half was largely driven by an improved performance from our Asia Pacific and India Subcontinent, Europe and U.A.E. terminals. The U.A.E. delivered another strong performance handling 7.4 million TEU, representing growth of 14.1 per cent in the first half. Growth in Europe continued to accelerate in the second quarter, showing strong growth in the first half of 2014 when compared with the challenging first half of 2013.
DP World Chairman Sultan Ahmed bin Sulayem commented, "We are very pleased with our performance in the first half of the year. As anticipated, we have seen a return to healthy volume growth in 2014 to the addition of a new capacity and 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." He added, "Our flagship Jebel Ali Port continues to achieve new records, with 3.8 million TEU handled in the second quarter. We will shortly open an additional 2 million TEU capacity at terminal 3 with a further 2 million coming on line later in the year. This will take total Jebel Ali capacity to 10 million TEU, ensuring that we are all placed to handle future capacity demands in Dubai." Group Chief Executive Mohammed Sharaf commented, "Our impressive performance in the first half of 2014 shows we have the right capacity in the right locations. The market is forecast to grow at approximately 5 per cent in 2014, and we remain confident in our ability to outperform it."