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DP World steams ahead with 2.4% growth in container volume
Global port and container terminal
operator DP World on Tuesday announced
a 2.4 per cent increase in its annual
container throughput to 56.1 million
twenty-foot equivalent units (TEUs) across
its global portfolio in 2012, over the prior
year. Adjusting for the divestment of four
joint venture terminals during the year for
gross container volume growth was 3.7 per
cent ahead of last year.
“This annual increase in gross container
volumes was driven by a good performance
from the Americas, Asia Pacific and Middle
East regions where the focus on delivering
improved efficiencies and productivity
attracted more containers into our ports,”
the Dubai-based DP World said in a
statement released today. The UAE region
continued to operate at very high levels of
capacity utilisation, increasing the number
of containers handed to 13.3 million TEUs
for the year.
“During the year, the deteriorating
macroeconomic environment and high
levels of capacity utilisation, led us to
change our short term strategy to focus
more on high quality revenue generating
business, and giving our customers the
quality of service they are accustomed to
with DP World,” Sultan Ahmed Bin Sulayem,
DP World Chairman said.
The company, which is expanding
its capacity in Jebel Ali port, had sold
its Australian port assets last year. DP
World’s portfolio of consolidated terminals
handled 27.1 million TEUs during 2012.
“Had the five terminals in Australia not
been deconsolidated from 12 March
2011, the consolidated terminals would
have delivered 0.9% growth ahead of the
prior year. Like for like growth across the
consolidated portfolio was 0.7 per cent,”
DP World said.
The company is also investing in
increasing capacity in Santos (Brazil) and
London Gateway (UK), along with its home
base in the UAE.
“After a strong start to the year we
had a challenging second half. Our tight
focus on cost management and higher
quality revenue mean we still expect to
achieve EBITDA in line with expectations
for 2012. Lower net financing charges
will benefit reported profit before
tax,” Mohammed Sharaf, Group Chief
Executive, commented.
DP World operates over 60 terminals
across six continents, with container
handling generating around 80 per cent of
its revenue. With a pipeline of expansion
and development projects in key growth
markets, including India, China and the
Middle East, capacity is expected to rise
to around 103 million TEU by 2020, in line
with market demand. About 80 per cent
of the global trade is seaborne. Shipping
lines› annual contribution to global
economy is about USD $ 400 billion
annually.
Maritime World lowers DMC and Jadaf rates
Maritime World has announced the
reduction of tariff rates along all aspects of
the business at Dubai Maritime City (DMC)
and Jadaf with effect from January 2013.
This is in light of Drydocks World Dubai’s
30th Anniversary celebrations in 2013.
The reduction from 2012 rates is aimed at
facilitating the growth of the industry at
the micro-level and increasing the repair
and maintenance options available to
small to medium size vessel-owners.
“We are able to play our part in the
growth and development of the industry,
especially the small scale vessel owners,
and offer greater value by enhancing
the quality of service delivery. We have
pledged our support to the small boatowners
and to organisations such as
the Dubai Fishermen’s Cooperative
Association and other such association
which benefit small commercial fishermen.
They represent our rich maritime heritage
and are in danger of being phased out
by the great technological strides taken
by the industry. Vessel owners registered
with the Dubai Fishermen’s Cooperative
Association will be entitled to a further
10 per cent discount on certain services,”
said Khamis Juma Bu Amim, Chairman of
Drydocks World and Maritime World.
DMC and Jadaf offer ship lift operation
and technical support to vessel owners. The
former has ship lifts capable of lifting 3000
and 6000 tonnes and the latter, which is
located adjacent to Dubai Creek and is one
of the oldest shipyards in the region, has
ship lifts that can lift 300 tonnes and 2400
tonnes vessel deadweight. Both yards offer
an extensive range of services through
contractor companies based within the
premises. There is a move to increase the
berthing capacity at DMC ship lifts in the
near future by adding 5 dry berths, each
berth of 150 metres and wet berths by 200
metres. This would help address increasing
demand from the region.
February 2013
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