DP World set to slash costs

DP World is developing the UK's London Gateway project
Industry Database

One of the largest global terminal operators, DP World, has just confirmed that although it increased throughput by 8% over 2007, it is preparing to cut costs and minimise cash outflow.

The company admits that due to the "slowing macroeconomic environment in the second half of the year" volumes at many of its terminals has been impacted.

Mohammed Sharaf, chief executive says "We expect these conditions to remain for the foreseeable future. With this in mind, we have implemented a strategy to focus on minimising the impact on margins and preserving cash, which includes reducing costs and taking a prudent approach to our working capital position."

DP World has 48 terminals on its books, and another 13 developments worldwide, ranging from places like the UK London Gateway project and the Chinese Qindao port.

It has global capacity of more than 54 million teu, which it was to increase significantly in coming years to around 95 million teu by 2017.

LATEST PRESS RELEASES

Enhanced Hazcheck Restrictions Portal Launched, 1 May 2018

Exis Technologies, with the support of leading shipping and freight insurers, TT Club and UK P&I Clu... Read more

Successful participation and presentation at exhibition in Beira, Mozambique

The exhibition series ‘Intermodal Africa’ organized by Transport Events is always a good possibility... Read more

Protectors of Esbjerg's new East Port quay

The German based Headquarters of ShibataFenderTeam recently completed an order for the Port of Esbje... Read more

Aquaplot joins Technology Transfer Programme of European Space Agency

Start-up for ocean route planning enters ESA’s Business Incubation Centre (BIC) Read more

AMRO Increases Scope To Cover The GCC Region

AMRO, a specialist marine equipment and services provider, is proud to announce that they will now c... Read more

SAFE AND SECURE

Ninth Consecutive “Excellent” Coast Guard Security Assessment Awarded to Port of Baltimore Read more

View all