DP World outperforms expected market growth

DP World has announced that its 2014 figures beat expectations for market growth by 3.9%, handling a total of 60 million teu across its international portfolio
DP World outperforms expected market growth

DP World Limited has reported 8.9 percent growth in 2014, a performance that it says outperformed the expected market growth of approximately five percent.

The container terminal services company handled 60 million teu across its international portfolio, with new volumes at Embraport in Brazil and London Gateway contributing to the increase.

According to DP World, growth last year was minly driven by the Asia Pacific and Indian Subcontinent region, Europe and UAE terminals. The UAE in particularly delivered growth of 11.8 percent for the year, handling 15.2 million teu over the twelve months.

“With volume growth of 8.9 percent in 2014 we believe we have once again outperformed the expected 2014 market growth of approximately five percent,” says Chairman Sultan Ahmed Bin Sulayem.

“Our flagship Jebel Ali port continues to reach record highs with 15.2 million teu handled in 2014. The opening of an additional two million teu capacity in the third quarter of 2014 has alleviated constraint and will provide the capacity we need to achieve further volume growth at Jebel Ali. A further two million teu is expected to come on line in the second half of this year taking total Jebel Ali capacity to 19 million teu."

In light of the company’s strong performance, DP World says that it is looking forward to a 2015 full of developments, including new capacity coming on stream in The Netherlands, Turkey, India and the UAE, the development of a logistics hub in Belgium and additional integrated ports and logistics solutions for some customers with the completion of the JAFZA acquisition. 

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by Laura Stackhouse

readmt.com Editor

Laura Stackhouse is the Web Editor of readmt.com, an official publication of the International Marine Purchasing Association (IMPA). To discuss news, features or contributing to readmt.com please get in touch.

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