DP World Limited handled 55 million TEU across its global portfolio of container terminals during 2013, with gross container volumes growing by 0.7% on a like-for-like basis. The second half of the year delivered a stronger performance with volumes growing 3.6% on the prior period on a like-for-like basis. On a reported basis gross volumes declined 1.9% mainly due to the monetisation of one of company Hong Kong assets, the company said in its press release.
All three reporting regions displayed a stronger performance in the second half of 2013. This was driven largely by an imprved performance from Asia Pacific, Australia and UAE terminals, while Europe continues to show signs of stability.
The UAE delivered another record year handling 13.6 million TEU, representing growth of 2.7 %.
At a consolidated level, company terminals handled 26 million TEU during 013, a marginally lower like-for-like performance.
Chirman Sultan Ahmed Bin Sulayem commented: “We are pleased to deliver gross like-for-like throughput growth in 2013, despite the challenging macroeconomic backdrop.
“We are encouraged by the volumes handled at our flagship Jebel Ali port, with our UAE operation recording the best year in its history. This reflects the continued growth of Dubai, the UAE and the wider region. The 1 million TEU expansion of Jebel Ali’s T erminal 2 contributed to that record result, and this year, we will add 4 million TEU new capacity at Terminal 3 to ensure we are well placed to handle future capacity demand in Dubai. “Our London Gateway facility and our facility in Brazil, Embraport, both opened for business in the second half of 2013 and we look forward to their contribution during 2014 and beyond.”
Group Chief Executive Mohammed Sharaf commented: “Our full year throughput performance is pleasing, particularly given the softer market conditions we experienced in the first half of 2013. This illustrates the resilient nature of our portfolio which remains well positioned to capture medium to longer-term growth through its continued focus on faster growing markets and origin and destination (O&D) cargo. The quarterly trend of improvement continued into the fourth quarter of 2013 and, while the macroeconomic outlook in some regions remains uncertain, we have made an encouraging start to the current year.
“Economic headwinds combined with limited spare capacity across our portfolio constrained our ability to grow volumes further in 2013. However, the addition of new capacity in 2014 combined with a projected pick-up in global trade should allow us to return to a more normalised growth rate.
“As always, we remain focused on driving profitability by targeting higher margin throughput while containing costs and improving efficiencies. We remain confident of meeting full year market expectations.”
During 2012 DP World divested / monetised approximately 1.9 million TEU capacity in the Europe, Middle East and Africa region and 0.3 million TEU in the Americas and Australia Region which impacts company reported throughput numbers shown below. DP World has therefore shown like for like numbers to remove the impact of these divestments.
During 2013 DP World divested / monetised approximately 1.6 million TEU capacity from the Asia Pacific and Indian Subcontinent region which impacts company reported throughput numbers shown below. Company have therefore shown like for like numbers to remove the impact of these divestments.
About DP World
DP World has a portfolio of more than 65 marine terminals across six continents, including new developments underway in India, Africa, Europe, South America and the Middle East.
Container handling is the company’s core business and generates more than three quarters of its revenue. In 2013, DP World handled more than 55 million TEU (twenty-foot equivalent container units). With its committed pipeline of developments and expansions, capacity is expected to rise to more than 100 million TEU by 2020, in line with market demand.
DP World has a dedicated, experienced and professional team of 28,000 people serving its customers around the world, and the company constantly invests in terminal infrastructure, facilities and people to provide quality services today and tomorrow, when and where customers need them.
In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship Jebel Ali facility in Dubai, which has been voted “Best Seaport in the Middle East” for 19 consecutive years.