UAE: DP World Achieves Strong 2013 Results

DP World Limited handled 55 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during 2013, with gross container volumes growing by 0.7% on a like-for-like basis.

The second half of the year delivered a stronger performance with volumes growing 3.6% on the prior period on a like-for-like basis. On a reported basis gross volumes declined 1.9% mainly due to the monetisation of one of the Hong Kong assets.

Chairman Sultan Ahmed Bin Sulayem said: “We are pleased to deliver gross like-for-like throughput growth in 2013, despite the challenging macroeconomic backdrop.

“We are encouraged by the volumes handled at our flagship Jebel Ali port, with our UAE operation recording the best year in its history. This reflects the continued growth of Dubai, the UAE and the wider region. The 1 million TEU expansion of Jebel Ali’s Terminal 2 contributed to that record result, and this year, we will add 4 million TEU new capacity at Terminal 3 to ensure we are well placed to handle future capacity demand in Dubai.

“Our London Gateway facility and our facility in Brazil, Embraport, both opened for business in the second half of 2013 and we look forward to their contribution during 2014 and beyond.”

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Press Release, February 5, 2014