DP World volumes down 8% last year

DP World last year suffered an 8% drop in throughput at container terminals in which it holds a majority stake, according to figures released yesterday.

In 2009 it handled a total of 43.4m teu in the 50 terminals in which it has a presence, with 28 of those majority-owned.

The worst affected was its Americas and Australia region, which handled 3.5m teu, a 15% drop on the 4.1m teu handled in 2008.

The Asia Pacific and Indian Subcontinent region fell by 5%, from 5.8m teu in 2008 to 5.5m teu in 2009.

Its emea region saw volumes drop by 7%, from 17.8m teu in 2008 to 16.5m teu last year.
DP World CEO Mohammed Sharaf said: “As anticipated, all our regions handled more containers in the second half of 2009 than in the first half and the early signs of stability seen in the third quarter continued into the final quarter of the year.

“Customer confidence, whilst improving, remains fragile with limited visibility for the medium term.

“Our 8% decline in volumes will lead to a decline in full-year profit before tax against the same period last year; however management’s focus on cost cutting and maintaining revenues has mitigated the downside and we expect to report 2009 results in line with expectations.”


http://www.ifw-net.com/freightpubs/ifw/news/dp-world-volumes-down-8-last-year/20017741721.htm