DP World 2013 Container Volumes Continued to Grow

MarineLink.com
Wednesday, February 05, 2014
Photo credit DP World

Dubai-based DP World reports that container volumes continued to grow In 2013 with a stronger second half performance across all regions.

DP World Limited handled 55 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during 2013, with gross container volumes growing by 0.7% on a like-for-like 1 basis. The second half of the year delivered a stronger performance with volumes growing 3.6% on the prior period on a like-for-like basis. On a reported basis gross volumes declined 1.9% mainly due to the monetisation of one of our Hong Kong assets.

Encouragingly, all three reporting regions 2 displayed a stronger performance in the second half of 2013. This was driven largely by an improved performance from our Asia Pacific, Australia and UAE terminals, while Europe continues to show signs of stability.

The UAE delivered another record year handling 13.6 million TEU, representing growth of 2.7%.

At a consolidated 3 level, our terminals handled 26 million TEU during 2013, a marginally lower like-for-like 4 performance.

Group Chief Executive Mohammed Sharaf commented: “Our London Gateway facility and our facility in Brazil, Embraport, both opened for business in the second half of 2013 and we look forward to their contribution during 2014 and beyond.”

He continued: “Our full year throughput performance is pleasing, particularly given the softer market conditions we experienced in the first half of 2013. This illustrates the resilient nature of our portfolio which remains well positioned to capture medium to longer-term growth through its continued focus on faster growing markets and origin and destination (O&D) cargo. The quarterly trend of improvement continued into the fourth quarter of 2013 and, while the macroeconomic outlook in some regions remains uncertain, we have made an encouraging start to the current year.

“Economic headwinds combined with limited spare capacity across our portfolio constrained our ability to grow volumes further in 2013. However, the addition of new capacity in 2014 combined with a projected pick-up in global trade should allow us to return to a more normalised growth rate.

“As always, we remain focused on driving profitability by targeting higher margin throughput while containing costs and improving efficiencies. We remain confident of meeting full year market expectations.”

Explanatory Notes
1 Like for like gross container volume growth adjusts for the divestment / monetisation of Tilbury (UK), Adelaide (Australia), Aden (Yemen), Vostochny (Russia) and ACT (Hong Kong) and for Embraport (Brazil) and London Gateway (UK).
2 DP World’s reporting regions are: Asia Pacific & Indian Subcontinent, Europe Middle East & Africa, Americas & Australia.
3 Consolidated terminals are those where we have control as defined under IFRS.
4 Like for like consolidated volume growth adjusts for the restructure of our Antwerp business. From 1 January 2013 all volumes in Antwerp are now accounted for within the joint venture portfolio. CT3 (Hong Kong) is deconsolidated from June 2013. Also adjusts for volumes at London Gateway (UK).

www.dpworld.com

 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ESSA's Fleet Upgradation Environmental Driven

State-controlled Exportadora de Sal SA de CV of Mexico ("ESSA"), one of the world’s largest salt exporters with a 10-million-ton annual production, has strengthened

PSA Chairman Receives Belgium Award

On 27 November 2014, PSA Group Chairman Fock Siew Wah was conferred the national distinction ‘Commander of the Order of the Crown’ from His Majesty King Philippe of Belgium for his merit,

MSC Magnifica Completes Drydocking at Damen Shiprepair

After a very fast and successful 17-day drydocking the cruise ship MSC Magnifica left Damen Shiprepair Rotterdam (part of Damen Shiprepair & Conversion) for

Ports

PSA Chairman Receives Belgium Award

On 27 November 2014, PSA Group Chairman Fock Siew Wah was conferred the national distinction ‘Commander of the Order of the Crown’ from His Majesty King Philippe of Belgium for his merit,

Fednav Celebrates Anniversary Trio in Cleveland

Fednav Limited held a reception on board one of its vessels, the Federal Mayumi, at the Port of Cleveland yesterday to celebrate a trio of anniversaries: the 70th

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Finance

Findland Fairway Due Law

Based on the Finland Ministry of Transport and Communication’s maritime strategy, the Finnish parliament has announced a final and lawful decision on the new

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Container Ships

DNV GL “Modification Excellence Award” for Schiffahrt

Classification society DNV GL recognised that E.R. Schiffahrt has retrofitted seven ultra large container vessels to meet the highest energy efficiency standards

World’s First LNG-Ready Ultra Large Container Ship Named

The race is on in global maritime circles to be the “world’s first” in every aspect of environmental friendliness, particularly in regards to the incorporation of LNG as fuel onboard commercial ships.

NYK Holds 8th Environmental Management Conference

NYK welcomed about 60 environmental supervisors from 47 NYK Group companies to the group’s annual Environmental Management Conference in Tokyo. NYK holds this

Middle East

NAVCENT Commander Recognizes Journey of Hope Sailors

Commander, U.S. Naval Forces Central Command, U.S. 5th Fleet, Combined Maritime Forces, Vice Adm. John. W. Miller, recognized the accomplishments of three special-needs sailors from the Kuwaiti ship,

HMAS Success Deploys to Middle East

After months of preparation, HMAS Success departed Garden Island in Sydney today for a six-month deployment to the Middle East Region to provide logistic support

DGS Marine Advises Fixed Premium P&I Cover

DGS Marine, a leading global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I facility, has highlighted the benefits

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2502 sec (4 req/sec)