DP World performance dip
DP World has reported a 7% decline in gross container volume in the first quarter of 2013 compared with the same period last year, owing to lower volumes in the Asia Pacific, Indian Subcontinent, Europe, Middle East and Africa regions.
The operator says it handled 12.8 million teu across its global portfolio as operating conditions in the first quarter of 2013 remained challenging, similar to those experienced in the fourth quarter of 2012.
At its Annual General Meeting being held today, DP World chairman, Sultan Ahmed Bin Sulayem, will explain that whilst this was 7.0% lower than the same period last year, when adjusted for the divestments and monetisation across DPW's portfolio, the decline was 3.5% on a like for like basis.
He will add: "These volume declines were mitigated by a better performance from our terminals in the Americas and Australia region.”
This result was calculated - DPW has actively been pursuing more higher volume markets, it makes economic sense.
A spokesperson for DP World told Port Strategy: “In the Asia Pacific and India Subcontinent region we have actively reduced throughput where capacity is constrained, pursuing higher margin volumes.”
DPW says its expects to see like for like container throughput in line with 2012 and will be focusing on the faster growing emerging markets and more stable origin and destination cargo, as well as developing significant new capacity, which is due to be operational later this year.
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