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May 2, 2012

DP World reports 10% rise in Q1 2012 container volume

DP World reported a 9.5% rise in container volume to 13.8 million teu during the first quarter of 2012, up from 12.5 million teu reported in Q1 2011, led by growth at terminals in Asia-Pacific and the Indian subcontinent.

DP World reported a 9.5% rise in container volume to 13.8 million teu during the first quarter of 2012, up from 12.5 million teu reported in Q1 2011, led by growth at terminals in Asia-Pacific and the Indian subcontinent

Excluding the contribution from new capacity, year on year growth was 7.4%, DP World said.

Terminals in the Asia Pacific and Indian Subcontinent reported 14.6% growth in container volume from 5.6 million teu in Q1 of 2011 to 6.4 million teu in Q1 of 2012.

DP World Chairman Sultan Ahmed Bin Sulayem said the growth was driven by performance in Asia Pacific and the Indian Subcontinent region, which reported 14.6% growth in volumes as new capacity across the region supported strong growth across the Asia Pacific portfolio.

"Growth in Europe, Middle East and Africa region was 4.4%, with a good performance in the Middle East and Africa mitigating the ongoing challenging operating environment in Europe." Sulayem said.

The EMEA region reported 4.4% growth in container volume during the quarter, up to 5.6 million teu from the 5.4 million teu it reported during the corresponding quarter in 2011.

The Americas and Australia region reported a growth of 8.7% to 1.6 million teu, compared to the 1.5 million teu it reported during the same quarter last year.

Consolidate cargo volume at DP World’s terminal dropped to 6.6 million teu year-on-year from 6.8 million teu following the sale of a 75% stake in five Australian terminals.

"Had our five terminals in Australia not been deconsolidated from the 12 March 2011, underlying growth would have been 5.9% when compared to the same period last year."

Container volume at DP World’s leading container terminal, Jebel Ali in UAE, grew 8.5% to 3.2 million teu during the quarter, compared to 2.9 million teu it reported during the corresponding quarter last year.

DP World operates more than 60 terminals in six continents and is currently carrying out 11 new developments.

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