DP World's Q3 container terminal volumes rise 10 per cent to 14.4 million TEU

Container terminal operator DP World has reported a 10 per cent year-on-year increase in global volumes, at 14.4 million TEU, in the third quarter of 2011.

Gross volumes for the first nine months of the year rose 11 per cent to 40.6 million TEU compared to the similar period of the previous year. The improved performance was driven by strong growth in Asia Pacific, UAE, Africa and the Americas, DP World said in a release.

Its global portfolio of consolidated terminals handled 20.5 million TEU in the first nine months of the year. The growth was primarily from the UAE, Africa and Americas regions.

For the first nine months of the year, the UAE handled 9.5 million TEU or 11 per cent ahead of the same period last year, Sultan Ahmed Bin Sulayem, chairman of DP World, commented.

DP World said the strong performance in the third quarter of the year, resulting in over 40.6 million containers handled so far this year, continues to reflect its focus on the faster growing emerging markets.

"The UAE region has continued to do well with the third quarter delivering excellent growth as Dubai continues to strengthen its position as a global trading hub for the fast growing economies of the Middle East, India and Africa," Mohammed Sharaf, chief executive of DP World, said.

"Whilst uncertainty continues to affect the global economy, our business continues to perform well. Despite the tougher fourth quarter comparatives, we continue to believe that we will achieve full year EBITDA in line with expectations," he added.