DP World reports record growth

Volumes are up across DP World's terminals. Photo: DP World Volumes are up across DP World's terminals. Photo: DP World
Industry Database

DP World Limited recorded an 8.9% increase in gross container volumes across its global portfolio container terminals in 2014, thanks in large part to its new developments at London Gateway and Embraport.

The group handled 60 million teu in 2014, largely driven by the Asia Pacific and India Subcontinent region, Europe and UAE terminals. The UAE alone delivered 15.2 million teu, representing growth of 11.8% for the year, while Europe showed a “solid return” to volume growth in 2014.

“With volume growth of 8.9% in 2014 we believe we have once again outperformed the expected 2014 market growth of approximately 5%. This demonstrates that a portfolio focused on origin and destination cargo and faster growing markets continues to be the right strategy to follow,” said Sultan Ahmed Bin Sulayem, chairman.

At a consolidated level, its terminals handled 28.3 million teu during 2014, a 9.5% improvement in like-for-like performance. On a reported level, DP World says the growth rate of 8.7% in consolidated volumes reflects the deconsolidation of Hong Kong assets in June last year.

“Our flagship Jebel Ali port continues to reach record highs with 15.2 million teu handled in 2014. The opening of an additional 2 million teu capacity in the third quarter of 2014 has alleviated constraint and will provide the capacity we need to achieve further volume growth at Jebel Ali,” added Sultan Ahmed Bin Sulayem.

A further 2 million teu is expected to come on line in the second half of this year taking total Jebel Ali capacity to 19 million teu.

Looking ahead, the company has plans for new capacity in the Netherlands, Turkey, India and the UAE. It’s also looking to develop a logistics hub in Belgium and further integrated ports and logistics solutions with the completion of our JAFZA acquisition.

“Although some of our terminals continue to operate in a challenging macro environment, market conditions across the portfolio are expected to be generally favorable in 2015. This coupled with the addition of new capacity, stands us in good stead for volume growth in line or slightly ahead of the market this year,” Sultan Ahmed Bin Sulayem concluded.

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