DP World box volumes up 2.2% so far in 2016

The Dubai-based container terminal operator posted a cargo throughput of 47.5 million TEUs at its container terminals in the first nine months of 2016, a 1 percent increase from the same 2015 period on a like-for-like basis.    Container terminal operator DP World handled 47.5 million TEUs at its container terminals in the first half of 2016, a 2.2 percent increase from the same 2015 period on a reported basis and a 1 percent increase on a like-for-like basis (not including divestments and new capacity).
   Like-for-like gross container volumes exclude 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.
   The company said the growth was largely driven by continued strong performance at its terminals in Europe and the Indian subcontinent. DP World noted the company’s terminals in the United Arab Emirates saw throughput drop 6.7 percent year-over-year to 11.1 million TEUs due to a decline in lower-margin transhipment cargo.
   Dubai-based DP World previously reported 2.5 percent year-over-year growth at its container terminals in the first half of 2016 (1.2 percent on a like-for-like basis).
   “Despite the challenging market conditions, particularly in natural resource dependent economies, our portfolio continues to deliver growth, which once again demonstrates the benefits of operating a globally diversified portfolio,” DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said in a statement.
   “While the near-term global trade growth outlook appears soft, we expect our new developments in Rotterdam (Netherlands), Nhava Sheva (India), London Gateway (United Kingdom) and Yarimca (Turkey) to drive growth in our portfolio,” he added. “We will continue to maintain capital expenditure discipline by bringing on capacity in line with demand, while focusing on targeting higher margin cargo, improving efficiencies and managing costs to drive profitability.”
   Sulayem said that given the company’s performance in the first nine months of 2016, DP World expects to meet full-year market expectations for throughput and earnings.