Terminals in UAE, Africa, Americas saw strong growth in third quarter

    DP World’s 10 percent year-over-year boost in container traffic in the third quarter was driven by strong growth at the Dubai-based company’s terminals in the United Arab Emirates, Africa and the Americas.

    The world’s third largest terminal operator handled 14.4 million 20-foot equivalent container units at more than 60 terminals worldwide, compared with 13.1 million TEUs in the third quarter of 2010.

    This lifted traffic in the first nine months to 40.6 million TEUs, 11 percent ahead of the same period a year ago.  The company’s 23 consolidated terminals handled 20.5 million TEUs in the nine months.

    The United Arab Emirates, including DP World’s flagship Jebel Ali terminal, increased traffic in the first three quarters by 11 percent to 9.5 million TEUs. Volume was also boosted by the contribution from a recently acquired terminal in Suriname and increased capacity in Callao, Peru, and Qingdao, China.

    “While uncertainty continues to affect the global economy our business continues to perform well,” said Mohammed Sharaf, DP World Chief Executive. “Despite the tougher fourth quarter comparatives, we continue to believe that we will achieve full year earnings [before interest, tax, depreciation and amortization] in line with expectations.”

(Source:JOC)