DP World Delivers Strong Third Quarter Volumes
13 million TEU handled, 14% increase over same period last year
Dubai, UAE, 25 October 2010: – Global marine terminal operator DP World today announced
it handled 13.0 million TEU (twenty-foot equivalent container units) across its portfolio of 50
operating terminals in the third quarter of the year, an increase of 14% against the same
period last year and a 15% increase for the first nine months of the year to 36.7 million against
the comparable period last year.
The UAE has continued to deliver improved volume growth in the third quarter, reporting an increase of 4% to 3.0 million TEU and taking the number of containers handled in the first nine months of the year to 8.6 million TEU or 3% ahead of the prior period. Non-container volumes in the UAE have also shown some improvement in the third quarter but year to date remain at lower levels than the same period last year.
DP World continues to handle container volumes ahead of the levels reported in 2008 reflecting how resilient our portfolio was to the global declines in 2009. Volume growth in the third quarter has been driven by strong growth in the Asia Pacific, Americas and Australia region as well as a continuation of returning volumes across Europe and a stabilisation of volume growth in the UAE.
Our new developments in Vallarpadam, India and Karachi, Pakistan remain on schedule to open later this year.
Chief Executive Officer, Mohammed Sharaf commented:
“Container volumes have remained strong during the third quarter of the year with DP World’s container volumes back in line with 2008 peak levels and with many of our regions delivering double digit growth over the third quarter last year.
“The performance in the UAE is particularly pleasing. Handling 3 million TEU in the third quarter puts the region back in line with its busiest quarter ever at the end of 2008.
“The strong third quarter results in our container operations will lead to a better second half than first half of the year; however, a slightly lower contribution from non-container operations is anticipated. Despite that, we remain on track to meet full year results in line with our expectations.”
About DP World
DP World is one of the largest marine terminal operators in the world, with 50 terminals and 11 new developments and major expansions across 31 countries(3). Its dedicated, experienced and professional team of nearly 30,000 people serves customers in some of the most dynamic economies in the world.
DP World aims to enhance customers’ supply chain efficiency by effectively managing container, bulk and other terminal cargo.
The company constantly invests in terminal infrastructure, facilities and people, working closely with customers and business partners 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 16 consecutive years. In 2009, DP World handled more than 43.4 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia. With a pipeline of expansion and development projects in key growth markets, including India, China and the Middle East, capacity is expected to rise to around 95 million TEU over the next ten years, in line with market demand.
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1 28 of our 50 terminals are consolidated for IFRS reporting purposes
2 Like for like consolidated terminal volumes exclude contribution from Callao, Peru which became operational in May 2010 and Saigon, Vietnam which became operational in October 2009 and excludes the transfer of ATI Manila to become a joint venture which took place in October 2009
3 As of 14 October 2010
DP World Limited, press release