DP World`s terminals 2009 volume drops 8pc to 25.6 million TEU

GLOBAL marine terminal operator DP World says it handled 25.6 million TEU across its 28 terminals in 2009, representing a year-on-year decline of eight per cent.
Excluding the contribution from new terminals, volumes fell 10 per cent, after having been down by 13 per cent in the first half of the year.
"The industry as a whole reported a decline of almost 12 per cent in container volumes and DP World`s outperformance reflects our focus on more resilient emerging markets," a company statement said.
Its own United Arab Emirates region handled volumes of just over 11 million TEU.
"Two thousand and nine has been a very challenging year for container port operators and we are pleased that we have delivered somewhat better results than the industry due to our focus on emerging markets which have remained more resilient to the global downturn," said DP World CEO Mohammed Sharaf.
"Our eight per cent decline will lead to a decline in full year profit before tax against the same period last year; however, management`s focus on cost cutting and maintaining revenues has mitigated the downside and we expect to report 2009 results in line with expectations.
"We remain confident about the long-term outlook for the container terminal industry and our strong competitive position within it. Whilst we have seen a better performance in the second half of 2009, predicting global trade trends in 2010 remains challenging, and whilst we expect to see container volumes improve, we will continue to remain focused on growing revenues and managing costs to drive EBITDA forwards," Mr Sharaf said.