DP World guns for 100m teu by 2020
Dubai-based international terminal operator DP World increased box throughput by 8.7% in 2014, moving 28.3m teu. Revenue rose to $3.4bn, while like-for-like profit jumped 25.3% to $757m.
Non-container revenue also performed well, increasing by 14.2% like-for-like.
DP World chairman, Sultan Ahmed Bin Sulayem, said: “We have ambitious strategic goals to maximise financial returns, strengthen global supply chains and create sustainable economic growth around the world. Our performance in 2014, whereby we outperformed the industry, illustrates that our strategy is bearing fruit as we benefitted from increased volumes across our global portfolio, including Embraport in Brazil and London Gateway in the UK which came on stream in 2013.”
By the end of this year, the operator expects to have approximately 85m teu capacity across its global terminal portfolio, moving towards in excess of 100m teu by 2020, “subject to market demand”. To facilitate this growth DP World plans to spend $1.4bn-$1.7bn this year, in addition to the $807m invested across the portfolio in 2014.
Group chief executive, Mohammed Sharaf said: “2015 is expected to be a busy year for new projects as we add approximately 8m teu of capacity including new facilities at Yarimca (Turkey), Nhava Sheva (India) and Rotterdam (Netherlands), with further additions to capacity at Jebel Ali Terminal 3 (UAE).
“We have made an encouraging start to 2015 and current trading is in line with group expectations. Whilst macro-economic conditions and geopolitical issues across some locations remain uncertain, we believe our portfolio is well positioned to deliver volume growth in line or slightly ahead of the market this year. ”
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