DP World`s 14pc quarterly growth back to 2008 peak levels

DUBAI marine terminal operator DP World has announced it has handled 13 million TEU at its 50 terminals worldwide in the third quarter, an increase of 14 per cent year on year, and a 15 per cent year-on-year rise for the first nine months of 2010 to 36.7 million TEU.

"Container volumes have remained strong during the third quarter of the year, back in line with 2008 peak levels and with many of our regions delivering double digit growth over the third quarter last year," said CEO Mohammed Sharaf.


DP World said volume growth in the third quarter was been driven by Asia Pacific, the Americas and Australia as well as rising European throughput and a stabilisation in UAE, said the company.


"Volumes for our consolidated terminals grew eight per cent in the third quarter to 7.3 million TEU and seven per cent for the first nine months of the year to 20.5 million TEU. Like-for-like volume growth for our consolidated terminals for the third quarter was nine per cent, and 10 per cent for the first nine months of the year," said the DP World statement.


The home market, the United Arab Emirates, continued to deliver improved growth in the third quarter, reporting an increase of four per cent to three million TEU and taking the number of containers handled in the first nine months of the year to 8.6 million TEU or three per cent ahead of the prior period.


"Non-container volumes in the UAE have also shown some improvement in the third quarter but year to date remain at lower levels than the same period last year," said the statement.


The company`s new developments in Vallarpadam, India and Karachi, Pakistan remain on schedule and due to open later this year.