Original news was published on 31 August, 2014
DUBAI's global port operator DP World has posted a 26 per cent year-on-year first half net profit increase to US$332 million, drawn on revenues of $1.6 billion, which increased 9.9 per cent.
DP World said it handled 29.4 million TEU during the first half, an increase of 10.7 per cent year on year. First half throughput at terminals solely controlled by company grew 8.5 per cent to 13.9 million TEU.“The substantial investment programme we initiated in 2012 is starting to bear fruit as new capacity aids in the delivery of stronger top and bottom-line growth,?said DP World CEO Mohammed Sharaf. Gains were made at its big Jebel Ali terminal as the company added one million TEU capacity. In 2013, DP World added to its capacity with the opening of Brazil’s Embraport and the London Gateway terminal. “Crucially, our balance sheet remains strong and we continue to generate high levels of cash flow, which gives us the ability to invest,?said Mr Sharaf.
Of the Jebel Ali expansion, he said: “We will add two million TEU of capacity shortly and a further two million TEU later in the year, plus five new quay cranes have been delivered. At full buildout, Jebel Ali's Terminal 3 will be the world’s largest semi-automated facility and will bring total capacity of 19 million TEU, he said.
DP World's new terminal at Mumbai's Nhava Sheva will add 800,000 TEU capacity by 2015. The new Turkish terminal, DP World Yarimca and Rotterdam's World Gateway, developed by a DP World-led consortium, are also under construction. If all goes according to plan, DP World will have 85 million TEU global capacity by 2015 and more than 100 million TEU in 2020.
To achieve this, Mr Sharaf said that DP World will continue to focus on emerging markets with potential for growth and to develop its assets in more mature markets.