DP World handles 55 million TEU during 2013

Dubai: DP World Limited handled 55 million TEU, twenty-foot equivalent units, across its global portfolio of container terminals during 2013, with gross container volumes growing by 0.7% on a like-for-like1 basis. The second half of the year delivered a stronger performance with volumes growing 3.6% on the prior period on a like-for-like basis. On a reported basis gross volumes declined 1.9% mainly due to the monetisation of one of our Hong Kong assets. All three reporting regions displayed a stronger performance in the second half of 2013. This was driven largely by an improved performance from our Asia Pacific, Australia and UAE terminals, while Europe continues to show signs of stability. The UAE delivered another record year handling 13.6 million TEU, representing growth of 2.7%. DP World's terminals handled 26 million TEU during 2013, a marginally lower like-for-like performance. Sultan Ahmed Bin Sulayem, DP World Chairman commented: "We are pleased to deliver gross like-for-like throughput growth in 2013, despite the challenging macroeconomic backdrop. "We are encouraged by the volumes handled at our flagship Jebel Ali port, with our UAE operation recording the best year in its history. This reflects the continued growth of Dubai, the UAE and the wider region". "The 1 million TEU expansion of Jebel Ali's Terminal 2 contributed to that record result, and this year, we will add 4 million TEU new capacity at Terminal 3 to ensure we are well placed to handle future capacity demand in Dubai noting that London Gateway facility and other facility in Brazil, Embraport, both opened for business in the second half of 2013 and we look forward to their contribution during 2014 and beyond", he added. – Emirates News Agency, WAM