DP World Q3 container volume falls 6 percent
Container traffic fell only 6 percent in the third quarter at terminals operated by DP World, signaling a recovery from steep falls in the first half of the year.
This left volume in the first nine months of 2009 down around 8 percent from a year ago, the Dubai-based company said in a trading statement. It did not say how many containers it handled.
Traffic in the key United Arab Emirates region was unchanged in the third quarter from a year ago resulting in volume falling only 5 percent in the first nine months of the year.
The UAE region handled just over a million 20-foot equivalent units in August, reflecting the resilience of the Middle East, Indian sub-continent and Africa amid the global economic downturn, DP World said.
"We are encouraged that trading in the third quarter … has seen volumes begin to stabilize after the significant declines of the first half," said CEO Mohammed Sharaf.
"We are beginning to see early signs of stability across the industry and container volumes across our three reporting regions all reported more containers handled in the third quarter of this year than in the second quarter," Sharaf said.
Sharaf said the fourth quarter will present challenges, particularly in the Middle East, and there will be a significant decline in non-container revenue.
DP World handled 46.8 million TEUs at its 50 terminals in 32 countries in 2008.
This left volume in the first nine months of 2009 down around 8 percent from a year ago, the Dubai-based company said in a trading statement. It did not say how many containers it handled.
Traffic in the key United Arab Emirates region was unchanged in the third quarter from a year ago resulting in volume falling only 5 percent in the first nine months of the year.
The UAE region handled just over a million 20-foot equivalent units in August, reflecting the resilience of the Middle East, Indian sub-continent and Africa amid the global economic downturn, DP World said.
"We are encouraged that trading in the third quarter … has seen volumes begin to stabilize after the significant declines of the first half," said CEO Mohammed Sharaf.
"We are beginning to see early signs of stability across the industry and container volumes across our three reporting regions all reported more containers handled in the third quarter of this year than in the second quarter," Sharaf said.
Sharaf said the fourth quarter will present challenges, particularly in the Middle East, and there will be a significant decline in non-container revenue.
DP World handled 46.8 million TEUs at its 50 terminals in 32 countries in 2008.