Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE - DP World 2013 volumes climb  Join our daily free Newsletter

MENAFN - Khaleej Times - 06/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Global container terminal operator DP World will add four million twenty-foot equivalent units (TEUs) new capacity at its flagship Jebel Ali' port's Terminal 3 this year



The port operator, which handled 55 million TEU across its global portfolio of container terminals during 2013, said the new capacity boost would ensure that it is well placed to handle future demand growth in Dubai. Chairman Sultan Ahmed bin Sulayem said despite the challenging macroeconomic backdrop, the Dubai-headquartered company recorded gross container volumes growth of 0.7 per cent on a like-for-like basis



"We are encouraged by the volumes handled at our flagship Jebel Ali port, with our UAE operation recording the best year in its history. This reflects the continued growth of Dubai, the UAE and the wider region. The one million TEU expansion of Jebel Ali's Terminal 2 contributed to that record result, and this year, we will add four million TEU new capacity at Terminal 3 to ensure we are well placed to handle future capacity demand in Dubai," said Sulayem



In 2013, DP World announced plans to spend nearly 3 billion on extending terminal capacity both at Jebel Ali and abroad



"The second half of the year delivered a stronger performance with volumes growing 3.6 per cent on the prior period on a like-for-like basis. On a reported basis gross volumes declined 1.9 per cent mainly due to the monetisation of one of our Hong Kong assets," the company said in a statement



Driven largely by an improved performance from Asia Pacific, Australia and UAE ternals, all three reporting regions displayed a stronger performance in the second half of 2013. This was while Europe continues to show signs of stability, DP World said




DP World's operation in the UAE delivered another record year handling 13.6 million TEUs, representing growth of 2.7 per cent



"At a consolidated level, our terminals handled 26 million TEU during 2013, a marginally lower like-for-like [performance. Our London Gateway facility and our facility in Brazil, Embraport, both opened for business in the second half of 2013 and we look forward to their contribution during 2014 and beyond," said Sulayem



"Our full year throughput performance is pleasing, particularly given the softer market conditions we experienced in the first half of 2013. This illustrates the resilient nature of our portfolio which remains well positioned to capture medium to longer-term growth through its continued focus on faster growing markets and origin and destination (O&D) cargo," said DP World's group chief executive Mohammed Sharaf.



He said the quarterly trend of improvement continued into the fourth quarter of 2013 and, while the macroeconomic outlook in some regions remains uncertain, the port operator had made an encouraging start to the current year



"Economic headwinds combined with limited spare capacity across our portfolio constrained our ability to grow volumes further in 2013. However, the addition of new capacity in 2014 combined with a projected pick-up in global trade should allow us to return to a more normalised growth rate," said Sharaf

 


Khaleej Times




  MENA News Headlines
 Jun 27 2016 - Seawings Lifestyle Partners with Ras Al Khaimah Tourism Development Authority to Offer Unique Staycation PackagesMENAFN Press
(MENAFN Press) Seawings Lifestyle, the premium seaplane operator on the Arabian Peninsula, has partnered with Ras Al Khaimah Tourism Development Authority (TDA) and four luxury resorts in the emirate ...

 Jun 27 2016 - Suicide bombers kill 5 in eastern Lebanon, near Syria borderSaudi Press Agency
(MENAFN - Saudi Press Agency) BEIRUT, 22 Ramadan,1437 AH, 27 June,2016 , SPA -- A group of suicide bombers detonated their explosives in a northeastern Lebanese village near the border with Syria on ...

 Jun 27 2016 - Eclair - La Petite Duchesse Announces Global Franchise Expansion With FrancorpMENAFN Press
(MENAFN Press) Touted as the next big thing in the world of patisseries, Eclair - La Petite Duchesse, is ready to embark on a worldwide expansion campaign through franchising. In order to streamline ...

 Jun 27 2016 - Savoir Vivre Teams up With International Butler Academy to Bring World's Best Butlers to the UAEMENAFN Press
(MENAFN Press) Established just three years ago Savoir Vivre is now working with VIP households, Royal Palaces, yacht and private jet owners and key hospitality figures. The company provides a range ...

 Jun 27 2016 - Cisco Tetration Analytics Provides the most Comprehensive Data Center Visibility and Analysis in Real Time, at ScaleMENAFN Press
(MENAFN Press) Cisco announced Cisco Tetration AnalyticsTM, a platform designed to help customers gain complete visibility across everything in the data center in real time– every packet, every ...

 Jun 27 2016 - Brexit impact negative for DubaiThe Arabian Post
(MENAFN - The Arabian Post) A fall in the value of UK pound will adversely affect the demand of Dubai property emanating from UK nationals. Additionally, the weaker currency is expected to adversely ...

 Jun 27 2016 - UAE- Trojan wins USD272mn Emaar townhouses dealMENAFN
(MENAFN) UAE- Trojan General Contracting (TGC) proclaimed that it has been given an USD272mn contract by Emaar Properties for the building of Mira Oasis.The project will contains two phases, while ...

 Jun 27 2016 - Egypt to issue two treasury bonds at USD340mnMENAFN
(MENAFN) Egypt will finance two treasury bonds totaling USD340mn in order to help the country's state budget deficit.Moreover, the Ministry of Finance will raise the first treasury bonds value ...

 Jun 27 2016 - Massive tourism hub to be built at USD 1.01mn in DuqmMENAFN
(MENAFN) A massive tourism hub with hotels, residential and commercial complexes and an amusement park has been given to Al Khonji Real Estate and Development in Duqm.Moreover, the usufruct deal was ...

 Jun 27 2016 - 'Apart from Erdogan, there is a great, modern Turkey'Daily News Egypt
(MENAFN - Daily News Egypt) After meeting with German officials, Cumhuriyet Editor-in-Chief Can Dundar spoke with DW. The dissident Turkish journalist harshly criticized the EU’s controversial ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help