Throughput at DP World's 49 container terminals around the world declined by 10 percent in the first six months of 2009 from the same period last year, the company reported Thursday.
The Dubai-based company said it handled 12.3 million TEUs in the first half of this year, compared to 13.6 million last year as the recession ate into global container trade volume.
Chief Executive Officer Mohammed Sharaf said that while the company has fared better than other terminal operators, the drop in volumes would lead to an "inevitable decline" in first half profit before tax from the same period last year.
"The unpredictable trends in global trade we have seen in the first half of the year continue into the second half of the year," Sharaf said. But, he said, the company hopes "to deliver full-year results in line with expectations."
Among the regions where DP World operates terminals, the Americas and Australia experienced the biggest decline in the first half, with a drop of 16 percent in throughput. Throughput at terminals in the Asia-Pacific and the Indian Subcontinent experienced a decline of 10 percent. Terminal throughput in Europe, Africa and the Middle East declined by 9 percent.
The Dubai-based company said it handled 12.3 million TEUs in the first half of this year, compared to 13.6 million last year as the recession ate into global container trade volume.
Chief Executive Officer Mohammed Sharaf said that while the company has fared better than other terminal operators, the drop in volumes would lead to an "inevitable decline" in first half profit before tax from the same period last year.
"The unpredictable trends in global trade we have seen in the first half of the year continue into the second half of the year," Sharaf said. But, he said, the company hopes "to deliver full-year results in line with expectations."
Among the regions where DP World operates terminals, the Americas and Australia experienced the biggest decline in the first half, with a drop of 16 percent in throughput. Throughput at terminals in the Asia-Pacific and the Indian Subcontinent experienced a decline of 10 percent. Terminal throughput in Europe, Africa and the Middle East declined by 9 percent.