DP World increased handling volumes in 2012

DP World has increased its container handling volumes by 2.4 percent in 2012, handling 56.1 million TEU (20ft equivalent units) across its global portfolio in 2012.

According to a statement released by the company, last year’s annual increase in gross container volumes ‘was driven by a good performance from the Americas, Asia Pacific and Middle East regions where the focus on delivering improved efficiencies and productivity attracted more containers into our [sic] ports.’

The company, which operates more than 60 terminals across six continents, recorded high operating levels in the UAE in 2012, increasing the number of containers handed to 13.3 million TEU for the year. DP World’s portfolio of consolidated terminals handled 27.1 million TEU during 2012.

Adjusting for the divestment of four joint venture terminals during the year, like for like gross container volume growth was 3.7% ahead of 2012. Had  five terminals in Australia not been deconsolidated from 12 March 2011, the consolidated terminals would have delivered 0.9% growth ahead of the prior year. Like for like growth across the consolidated portfolio was 0.7%.

Chairman Sultan Ahmed Bin Sulayem commented: “During the year, the deteriorating macroeconomic environment and high levels of capacity utilization, led us to change our short term strategy to focus more on high quality revenue generating business, and giving our customers the quality of service they are accustomed to with DP World.”

Group Chief Executive Mohammed Sharaf commented: “After a strong start to the year we had a challenging second half.  Our tight focus on cost management and higher quality revenue mean we still expect to achieve EBITDA in line with expectations for 2012.

“2013 is an exciting year for us with planned new capacity on track to open in Santos (Brazil), Jebel Ali (UAE) and London Gateway (UK). Whilst there remains much uncertainty in the macro economy we believe we are well positioned to make further progress in 2013.”