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DP World is experiencing continued growth in its UAE business, with Jebel Ali reporting a 7.7 per cent teu volume gain, to 3.9 million teu, in the first quarter of 2015 compared with the equivalent months of the previous year. The global port operating group handled around 15 million teu worldwide in this period, with gross container volumes growing by 4.4 per cent.
First quarter growth was largely driven by a stronger performances in Europe and Asia Pacific as well as the UAE. Capacity constraints limited performance in the Indian Subcontinent but DP World believes this should ease as new terminal facilities come on stream in Nhava Sheva.
Chairman Sultan bin Sulayem says, “Overall, we are very pleased by the portfolio’s first quarter performance. Although some of our terminals continue to operate in a challenging macro environment, we expect market conditions across the portfolio to be generally favourable for the remainder of 2015. We remain confident in performing in line or ahead of the market which is forecast to grow at approximately 4-5 per cent in 2015.”
Aside from Nhava Sheva, DP World is investing in new facilities in Rotterdam, which is due to come on line in the first half of this year, followed by the opening of a terminal at Yarimca in Turkey. DP World is also boosting its capabilities at Jebel Ali with a further 2 million teu of capacity due to be ready in the second half of 2015, taking the port’s total annual capacity to 19 million teu.
