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The global ports operator, DP World, has reported a 3.7% increase in gross container volumes across its portfolio in the first three months of 2016. This was largely driven by a stronger performance from its European and Indian subcontinent terminals. Within the UAE, DP World handled 3.6 million teu, down 5.9% year-on-year, which it attributes to the loss of some lower margin cargo.
Prospects for the group over the rest of the year are seen as being highly promising by the group. New capacity in Rotterdam, Nhava Sheva and Yarimca is now operational, while the addition of further facilities in Jebel Ali and London Gateway is on course for mid-2016, which will offer further scope for growth.
Chairman Sultan Bin Sulayem says, “Overall, we remain well positioned to grow volumes ahead of the market, while we will continue to focus on driving profitability by targeting higher margin cargo, improving efficiencies and managing costs. Our encouraging start to the year gives us confidence in meeting full year market expectations.”
DP World has also announced two new concession agreements in Cyprus for Limassol port. DP World Limassol has been awarded a 25 year concession for the exclusive right to operate the multipurpose terminal, whose activities include breakbulk, general cargo, ro-ro and the operation of the passenger terminal. Simultaneously, P&O Maritime Cyprus – a wholly-owned subsidiary of DP World Limited – has also been awarded a 15 year concession to exclusively provide a full range of port marine services, including tugs and pilotage, at the port of Limassol.
Both concessions will be awarded to a joint venture between DP World and G.A.P. Vassilopoulos Public Limited, a logistics and services company, listed on the Cyprus Stock Exchange. DP World will hold 75% of the share capital of each joint venture, as well as the management rights.
