DP World sees falling container volumes
DP World, the world's third-biggest ports operator, said first-half throughput declined amid slower container traffic in Europe and Asia-Pacific. Volumes fell 5.8 per cent to 26.6 million twenty-foot equivalent units (teu) across DP World's group of container terminals because of "challenging market conditions", the firm said in a statement to Nasdaq Dubai yesterday.
DP World, the world's third-biggest ports operator, said first-half throughput declined amid slower container traffic in Europe and Asia-Pacific.
Volumes fell 5.8 per cent to 26.6 million twenty-foot equivalent units (teu) across DP World's group of container terminals because of "challenging market conditions", the firm said in a statement to Nasdaq Dubai yesterday. When adjusted for changes across the portfolio, like-for-like container volumes fell 2.1 per cent.
"We maintain expectations of like-for-like container throughput in line with 2012, with our portfolio positioned towards the faster-growing emerging markets and stable origin and destination cargo," DP World group chief executive Mohammed Sharaf said in the statement.
Last year, DP World handled 56.1 million teu.
In the second half of this year, it will begin operating Embraport, the largest Brazilian private multimodal port terminal. Embraport is being built next to Porto de Santos, Brazil's biggest container terminal.
DP World has also invested in the London Gateway, a deep-sea container port in Britain with a capacity of 3.5 million teu per year. It is scheduled to open in the fourth quarter.