DP World has reported double digit growth in its container volumes fore first quarter of 2014.
Speaking at the Dubai-based operator’s AGM earlier today, DP World chairman Sultan Ahmed Bin Sulayem attributed the rise in throughput to both a pick up in global trade and additional capacity added last year at London Gateway and Embraport.
However, on a like for like basis, excluding the new capacity generated by its new facilities in Brazil and the UK, the company’s result was just as impressive after seeing volumes climb 10.5 percent year-over-year to 14.3 million TEU.
“As anticipated, we have seen a return to volume growth in 2014 due to the addition of new capacity and a pick-up in global trade in the first quarter,” said the DP World chairman, who added that he was also encouraged by the strong volumes handled by its flagship facility Jebel Ali Port and the contribution of the newly expanded Terminal 2.
Jebel Ali’s third terminal (Terminal 3) is scheduled to open to commercial shipping later this year.
“The addition of four million TEU capacity with Terminal 3 opening this year will ensure we are well placed to handle future capacity demands in Dubai,” added Bin Sulayem.
“Our key developments at Nhava Sheva (India) and Rotterdam (Netherlands) remain on schedule for delivery and we recently commenced construction at Yarimca in Turkey, where we anticipate adding approximately 0.8 million TEU capacity in the second half of 2015.”
Bin Sulayem continued by noting that the group is pleased with its quarterly performance and proves that it has added capacity in the right areas.
“We remain confident of meeting full year market expectations,” he declared.
