DP World throughput up in 2012
DP World handled 56.1m teu in 2012 – up 2.4% on the previous year, but it still faced a challenging second half, which forced the operator to change its short term strategy somewhat by divestment.
The divestment of four of DPW's joint venture terminals during the year was done in order to focus more on the areas of the business that generate higher revenue. When the sales adjustment is made to the figures, the operator's gross container volume was also ahead of 2011 by 3.7%.
Sultan Ahmed Bin Salayem, chairman, DP World, said: “During the year, the deteriorating macroeconomic environment and high levels of capacity utilisation, led us to change our short term strategy to focus more on high quality revenue generating business, and giving our customers the quality of service they are accustomed to with DP World.”
By pulling in the belt it seems, DPW was still able to achieve its EBITDA target for the year.
And this may prove to be a wise decision because 2013 will be an expensive year for DPW in terms of investment – it says that planned new capacity is still on track for Santos (Brazil), Jebel Ali (UAE) and London Gateway (UK).
And yesterday it announced that it has been granted approval by the Indian Finance Ministry for its proposed container terminal investment project at Jawaharlal Nehru Port. This will will mean that the operator is currently investing in operations across four continents.
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