UAE: DP World Reports Another Strong Performance in Third Quarter

 

DP World’s global portfolio of container terminals has delivered another solid quarter handling gross volumes of 14.4 million TEU in the third quarter of 2011, 10% ahead of the third quarter last year.

Gross volumes for the first nine months of the year were 40.6 million TEU or 11% ahead of the prior year. This performance was driven by strong growth in the Asia Pacific, UAE, Africa and Americas regions, as well as new volumes from recently acquired Suriname and additional capacity in Callao, Peru and Qingdao, China. Like for like gross volume growth was 9%1.

Our portfolio of consolidated terminals2 handled 20.5 million TEU in the first nine months of the year. Had our five terminals in Australia not been deconsolidated from 12 March 2011, the consolidated terminals would have delivered 9% growth ahead of the same nine month period in 2010. Like for like consolidated volume growth in the first nine months was 8%3. The growth in our consolidated portfolio was primarily from the UAE, Africa and Americas regions.

For the first nine months of the year, the UAE handled 9.5 million TEU or 11% ahead of the same period last year.

Sultan Ahmed Bin Sulayem, Chairman of DP World, commented:

“DP World has delivered another very strong performance in the third quarter of the year, resulting in over 40.6 million containers handled so far this year. This 11% growth in volumes when compared to last year continues to reflect our focus on the faster growing emerging markets, resulting in another performance well ahead of the industry.

“The UAE region has continued to do well with the third quarter delivering excellent growth as Dubai continues to strengthen its position as a global trading hub for the fast growing economies of the Middle East, India and Africa.”

Mohammed Sharaf, Chief Executive of DP World said:

“Whilst uncertainty continues to affect the global economy our business continues to perform well. Despite the tougher fourth quarter comparatives, we continue to believe that we will achieve full year EBITDA in line with expectations.”

Source: DP World, October 25, 2011

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2015 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Marintec South America

Marintec – South American Maritime Exhibition for Shipbuilding, Platform and Maintenance

As part of the UBM/Seatrade portfolio, Marintec South America is a trade-show for anyone who wants to stay ahead in the maritime market.

Why visit?

  • Be inspired by thousands of products and services on show
  • Find out what´s new in the market by chatting to suppliers and peers
  • Come away with genuine solutions, exciting ideas, and a fresh outlook
  • Pick up new ideas from the experts of industry through our seminar sessions and technical presentation

Why Exhibit in Rio de Janeiro/ Brazil?

  • Rio de Janeiro is the headquarter of Petrobras and its mains shipyards / ship owners
  • Rio de Janeiro is an international reference center for training of professionals for the offshore oil and gas industry
  • Brazil produces over 2 million barrels of oil per day and the offshore production will double this by 2020
  • The Brazilian shipbuilding industry has been grown 19,5% per year since 2000
  • Investments in the industry should exceed BRL 200 billion before 2020
  • The oil and gas industry reached about 12% of the total Brazilian GDP and may reach 20% by 2020
  • The offshore exploration will move R$ 3.7 trillion over the next 30 years and will generate 87 million jobs
  • Petrobras’ total pre-salt needs estimate: 97 platforms, 510 support vessels and 140 oil tankers

Read more about the conference here.

read more >

3rd Annual LNG Bunkering 2015 Conference

IBC’s ‘LNG Bunkering Summit’ returns for the 3rd time, with a view to profile latest developments and opportunities in key trade routes globally, and particularly in Singapore.

Join your industry partners as they crack the ‘chicken and egg’ dilemma while focusing on first-mover benefits, infrastructure, supply and pricing that makes switching to LNG a viable option.

The 3rd LNG Bunkering Summit is part of a suite of events in The Bunkering Week, which incorporates 3 co located conferences and will attract over 200 top decision makers. LNG Suppliers, Traders, Ship Owners and builders will convene to address commercial, regulatory, supply-demand, price and global market issues.

More info

Contact Details:
Email: register@ibcasia.com.sg
Telephone: +65 6508 2401
Fax: +65 6508 2407
Mail: IBC Asia (S) PTE LTD, 111 Somerset Road, TripleOne Somerset #10-06 Singapore 238164

read more >

7th Bunkering in Asia 2015 Conference

If Quality and Compliance challenges were not enough, oil prices have provided a further twist to industry dynamics. Further, recent developments have yet again resulted in a review of credit and counter party risk management within the value chain.

What then should the industry response be? How can we look ahead and determine strategies that have a positive impact on our business? If tapping successfully into new market segments was high priority, assessing watertight alternatives to protect your business is of equal importance.

Part of The Bunkering Week, the 7th Bunkering in Asia is back in Singapore to provide networking, expert viewpoints, and commercial opinions that matter.

More info

Contact Details:
Email: register@ibcasia.com.sg
Telephone: +65 6508 2401
Fax: +65 6508 2407
Mail: IBC Asia (S) PTE LTD, 111 Somerset Road, TripleOne Somerset #10-06 Singapore 238164

read more >

Scrubber Summit Conference 2015

When reviewing the Exhaust Gas Cleaning System investment, vessel route, the amount of time spent in an ECA region and long term HFO – MGO differentials are just some of the issues ship owners’ are grappling with.

The drop in oil prices though has shifted the market economics of investments in Exhaust Gas Cleaning Systems. Long touted as a viable option for complying with low sulphur regulations, the industry is now actively evaluating HFO – Scrubber economics, and taking decisions to embraced scrubber technology.

The Scrubber Summit is your platform to raise questions and get commercial and technical solutions from technology experts and ship owners. It is part of a suite of events in The Bunkering Week, which incorporates 3 co located conferences and will attract over 200 top decision makers.

More info

Contact Details:
Email: register@ibcasia.com.sg
Telephone: +65 6508 2401
Fax: +65 6508 2407
Mail: IBC Asia (S) PTE LTD, 111 Somerset Road, TripleOne Somerset #10-06 Singapore 238164

read more >