DP World Q1 volumes up 3.7%

The container terminal operator posted a cargo throughout of 15.5 million TEUs at its container terminals in the first quarter of 2016, a 2.4 percent increase from the same 2015 period on a like-for-like basis.    Container terminal operator DP World handled 15.5 million TEUs at its container terminals in the first quarter of 2016, a 3.7 percent increase from the same 2015 period on a reported basis and a 2.4 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; Rotterdam, The Netherlands; 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 Latin America remained “challenging” in the first quarter and the company’s terminals in the United Arab Emirates saw throughput drop 3.6 percent year-over-year to 3.6 million TEUs.
   At DP World’s terminals in the Asia Pacific and India Subcontinent division, gross volumes totaled 7.2 million TEUs for the quarter, up 4.7 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 6.4 million TEUs; and the Americas and Australia division, where volumes totaled 1.9 million TEUs, up 13.4 percent from first quarter 2015.
   “Our new developments in Rotterdam (Netherlands), Nhava Sheva (India) and Yarimca (Turkey) are now operational and are expected to deliver an increasing contribution in the second half of 2016,” DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said in a statement. “The additional 2 million TEU of capacity at Jebel Ali (UAE) and 1 million TEU of capacity in London Gateway (UK) are on course to be delivered in mid-2016, which will offer further room for growth.
   “Overall, we remain well positioned to grow volumes ahead of the market, while we continue to focus on driving profitability by targeting higher margin cargo, improving efficiencies and managing costs,” he added. “Our encouraging start to the year gives us confidence in meeting full year market expectations.”