DP World volume declines 7pc as throughput barely tops 12.8 million TEU
UNITED Arab Emirates' DP World has posted a seven per cent first quarter throughput decline to 12.8 million TEU worldwide year on year.
But the company cautioned that the decline was 3.5 per cent on a like for like basis when adjusted for the divestments and monetisation across the company portfolio.
DP World's portfolio of consolidated terminals handled 6.2 million TEU in the first quarter, falling 6.4 per cent year on year.
"Despite subdued markets at the start of 2013 and notwithstanding the challenging macroeconomic conditions, we still expect like for like container throughput in line with 2012 with our portfolio focused on the faster growing emerging markets and more stable origin and destination cargo," said DP World chairman Ahmed Bin Sulayem.
Looking ahead, DP World said it is optimistic about the industry's growth prospects. "We remain focused on developing the significant new capacity which is due to be operational later this year."
The decline in container volume was due to lower volumes in the Asia Pacific and Indian subcontinent region, as well as in the Europe, Middle East and Africa region.
"In the Asia Pacific and Indian subcontinent region we continue to focus on handling a smaller number of higher margin containers. In the Europe, Middle East and Africa region, our European and Middle East businesses will continue to operate in a challenging macro environment," said DP World chairman Ahmed Bin Sulayem.
"Within this region, our UAE facilities handled 3.1 million TEU. These volume declines were mitigated by a better performance from our terminals in the Americas and Australia region," he said.
UNITED Arab Emirates' DP World has posted a seven per cent first quarter throughput decline to 12.8 million TEU worldwide year on year.
But the company cautioned that the decline was 3.5 per cent on a like for like basis when adjusted for the divestments and monetisation across the company portfolio.
DP World's portfolio of consolidated terminals handled 6.2 million TEU in the first quarter, falling 6.4 per cent year on year.
"Despite subdued markets at the start of 2013 and notwithstanding the challenging macroeconomic conditions, we still expect like for like container throughput in line with 2012 with our portfolio focused on the faster growing emerging markets and more stable origin and destination cargo," said DP World chairman Ahmed Bin Sulayem.
Looking ahead, DP World said it is optimistic about the industry's growth prospects. "We remain focused on developing the significant new capacity which is due to be operational later this year."
The decline in container volume was due to lower volumes in the Asia Pacific and Indian subcontinent region, as well as in the Europe, Middle East and Africa region.
"In the Asia Pacific and Indian subcontinent region we continue to focus on handling a smaller number of higher margin containers. In the Europe, Middle East and Africa region, our European and Middle East businesses will continue to operate in a challenging macro environment," said DP World chairman Ahmed Bin Sulayem.
"Within this region, our UAE facilities handled 3.1 million TEU. These volume declines were mitigated by a better performance from our terminals in the Americas and Australia region," he said.