DP World Post Soaring 2015 Results


Global port and terminal operator DP World handled 61.7 million TEU across its global portfolio of container terminals during 2015, with gross container volumes growing by 3% on a reported basis and 2.4% on a like-for-like basis. 

Growth in 2015 was largely driven by European and United Arab Emirates (UAE) terminals.

The portfolio benefited from the ramp-up in London Gateway, and the UAE handled a record 15.6 million TEU, which represents like-for-like growth of 2.3% for the year.

Utilisation at Jebel Ali remains high at approximately 90% despite the softer volumes in Q4, 2015.

Market conditions in H2, 2015 were challenging, with like-for-like gross throughput growth flat year-on-year in Q4, 2015.

Technical Paper: DP World’s Container Terminal 3 at Jebel Ali

At a consolidated level, our terminals handled 29.1 million TEU in 2015, a 2.7% improvement on a reported basis. Consolidated like-for-like volumes grew by 1.7% in 2015.

Sultan Ahmed bin Sulayem, Chairman and newly appointed CEO of DP World, said: “H2, 2015 was difficult for global trade operators, as various economic headwinds, including currency weakness and lower commodity prices, adversely impacted trade growth.

“Against this challenging backdrop, all our three regions continued to deliver full year volume growth on a like-for-like basis which demonstrates the strength of our portfolio.

Technical Paper: The exciting Port of Jebel Ali

“As we look ahead into 2016, we look forward to the new capacity at Rotterdam (Netherlands), Mumbai (India), Prince Rupert (Canada) and Yarimca (Turkey) to deliver a full year contribution to our throughput.

“We expect to open our third berth at London Gateway (UK) in mid-2016, adding 600,000 TEU of new capacity. The additional 2 million TEU at terminal three (T3) Jebel Ali (UAE) will now be operational in H2, 2016.

Technical Paper: DP World’s Container Terminal 4 at Jebel Ali

“While trading conditions in 2016 are expected to remain challenging, we believe a portfolio focused towards faster growing markets and origin and destination cargo, coupled with the addition of new capacity can continue to outperform the market.”

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