Thursday 27th Oct 2016 - Logistics Manager

DP World sees 4.5 per cent container growth

Gross container volumes have grown by 4.5 per cent in the first nine months of the year, DP World has reported, driven by growth across the Americas, Asia Pacific, Middle East and UAE region.

In the  third quarter DP World handled 14.2 million TEU across its portfolio of container terminals – one per cent lower than the same period last year reflecting the divestment of three joint venture terminals and a decline in volumes in the Europe, Middle East and Africa region. Like for like gross container volume growth in the third quarter was 0.5 per cent.

Chairman Sultan Ahmed Bin Sulayem said: “During the third quarter of the year we have taken advantage of opportunities to reposition our portfolio towards higher return businesses where we have management involvement. These recent divestments allow us to recycle cash into projects already within our pipeline, such as Jebel Ali (UAE) and London Gateway (UK) and, over time, to invest in new opportunities in line with our strategy, while maintaining balance sheet strength and flexibility.”