DP World box volumes grow 2.5% in first half 2016

The Dubai-based container terminal operator posted a cargo throughput of 31.4 million TEUs at its container terminals in the first six months of 2016, a 1.2 percent increase from the same 2015 period on a like-for-like basis.    Container terminal operator DP World handled 31.4 million TEUs at its container terminals in the first half of 2016, a 2.5 percent increase from the same 2015 period on a reported basis and a 1.2 percent increase on a like-for-like basis (not including divestments and new capacity).
   Like-for-like gross container volumes excluded throughput at DP World’s facilities in Yarimca, Turkey; Stuttgart, Germany; Antwerp Inland, Belgium; and Prince Rupert, Canada.
   The company said the growth was largely driven by strong performance at its terminals in Europe and the Indian subcontinent. DP World noted that conditions in Australia and Latin America remained “challenging” in the first quarter and the company’s terminals in the United Arab Emirates saw throughput drop 6 percent year-over-year to 7.4 million TEUs.
   Dubai-based DP World previously reported 3.7 percent year-over-year growth at its container terminals in the first quarter of 2016 (2.4 percent on a like-for-like basis).
   At DP World’s terminals in the Asia Pacific and India Subcontinent division, gross volumes totaled 14.6 million TEUs for the first six months of 2016, up 2.9 percent from the previous year; followed by its terminals in the Europe, the Middle East and Africa division, where gross volumes were relatively flat at 13.1 million TEUs (up 0.6 percent reported and 0.1 percent like-for-like); and the Americas and Australia division, where volumes totaled 3.7 million TEUs, up 8.3 percent from first half 2016 on a reported basis but down 2.4 percent like-for-like.
   “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,” DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said in a statement.
   “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.”