DP World's cargo handling growth exceeds 4% in H1
DP World Limited saw cargo handling of 30.6-million-teu across its global portfolio of container terminals during the first half of 2015, with gross container volumes growing by 4.1% on a like-for-like basis, according to a statement from the company.
Growth in the first half was largely driven by Europe and UAE terminals, with the UAE terminals handling 7.9-million-teu, representing growth of 6%. Europe continued to show steady growth despite the difficult geopolitical environment, although solid figures were not released.
The Asia Pacific and the Indian subcontinent region delivered an improved performance in the second quarter, according to DP World, which said the recent capacity addition at Nhava Sheva (India) should provide further room for growth. Performance at the Americas and Australia region has been broadly flat due to soft economic conditions.
“I am pleased to report that we have made good progress with our new developments, with Rotterdam (Netherlands) and Nhava Sheva (India) now operational whilst Yarimca (Turkey) is on track for launch in the fourth quarter of 2015,” said chairman, Sultan Ahmed Bin Sulayem. “Additionally, the proposed acquisition of Fairview Terminal in Canada is expected to close in the second half of this year, which will enhance our Americas portfolio.”
“Our flagship Jebel Ali Port continues to respond to market demand and we are on track to deliver an additional 2 million-teu of capacity in Terminal 3 in the second half 2015,” Sulayem added. “Despite the new capacity additions, Jebel Ali continues to operate at high levels of utilisation and we are delighted to announce construction of Terminal 4, which will deliver phase one new capacity of 3.1 million-teu by 2018.”
The addition of Terminal 4 will take total capacity at Jebel Ali Port to 22.1-million-teu and will ensure the port “continues to have sufficient capacity to serve the future growth demand of the UAE and the wider region,” said Sulayem.
“It has been well documented that market conditions in the first half have been relatively challenging,” added group CEO Mohammed Sharaf. “Full year market volume growth is now forecast to be at approximately 3%, and DP World is expected to perform ahead of the market. Overall, given the solid first half volume performance, we remain confident of meeting full year market expectations.’’