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            october 21, 2019

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DP World's global quarterly box volume up 4.6pc to 42.4 million TEU


Dubai based global port operator, DP World, has posted 4.6 per cent growth in container throughput in the first nine months of 2012 to 42.4 million TEU, up from 40.5 million TEU handled in the corresponding period last year, according to the Shipping Gazette. 
A report by Gulfnews said DP World handled 14.2 million TEU across its portfolio of container terminals in the third quarter, which was one per cent lower than the same period in 2011. This was attributed to the divestment of three joint venture terminals and a decline in volumes in Europe, Middle East and Africa region. Like-for-like gross container volume growth was 0.5 per cent.
"Gross container volumes have continued to grow 4.5 per cent in the first nine months of the year driven by strong growth across the Americas, Asia Pacific, Middle East and UAE region," the company said in a statement.
The UAE region handled 3.4 million TEU in the third quarter. This increased its volumes 4.6 per cent in the first nine months of 2012 year on year.
The portfolio of consolidated terminals reported a 0.7 per cent decline in volumes in the third quarter as the Asia Pacific, Indian subcontinent, Europe, the Middle East and Africa reported a small decline in volumes.
For the first nine months of the year, container volumes across the group's consolidated portfolio increased 3.4 per cent compared to the same period last year, if the terminals in Australia had not been deconsolidated from March 12 2011, the report said.
Said DP World chairman Ahmad Bin Sulayem: "These recent divestments allow us to recycle cash into projects already within our pipeline, such as Jebel Ali (UAE) and London Gateway (UK) and, over time, to invest in new opportunities in line with our strategy, while maintaining balance sheet strength and flexibility."
DP World operates 60 terminals on six continents, with container handling accounting for 80 per cent of its revenue. The company also has 10 new developments and major expansions underway in nine countries.

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