DP World has handled 31.4 million TEU across its global portfolio of container terminals during H1, 2016, with gross container volumes growing by 2.5% on a reported basis, and up 1.2% on a like-for-like basis, which excludes volumes at Yarimca (Turkey), Stuttgart (Germany), Antwerp Inland (Belgium) and Prince Rupert (Canada).
Growth in H1, 2016 was largely driven by strong performance from its European and Indian subcontinent terminals. Conditions in Australia and Latin America remain challenging while the UAE handled 7.4 million TEU, down 6% year-on-year due to a reduction in lower-margin cargo.
At a consolidated level, in which DP World has control of terminals as defined under the IFRS, its terminals handled 14.6 million TEU during H1, 2016.
This is a 1.6% improvement in performance on a reported basis and down 1.4% year-on-year on a like-for-like basis, which again excludes volumes at Yarimca (Turkey), Stuttgart (Germany), Antwerp Inland (Belgium) and Prince Rupert (Canada).
(Source: DP World)
Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World, said: “Despite challenging market conditions in the first half of the year, our portfolio continues to deliver growth.
“We expect the second half of 2016 to show an improved performance as our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) deliver an increasing contribution.
“We continue to focus on driving profitability by targeting higher margin cargo, improving efficiencies and managing costs. We are encouraged by the progress we have made in the first half of 2016, and we remain confident in meeting full year market expectations.”
PTI previously reported that DP World’s Yarimca Terminal had officially opened and that the terminal would cover 46ha and have the capacity to handle 1.3 million TEU.