DP World’s output up 11%

31 Jul 2011

(MENAFN) DP World’s chief executive officer, Mohammed Sharaf, said that the group registered an 11 percent hike in its output in the fist half of the current fiscal year, driven by a strong trading performance at its Jebel Ali hub that accounted for 3.1 million 20-foot equivalent units (TEUs) in the second quarter, reported The National.

Sharaf said that the group, which is 80 percent owned by the Dubai Government, handled 26.2 million TEUs during the first half of the year, of which 6.1 million went through the UAE. He added that the group managed to continue its strong performance despite of the political unrest in the region.

The CEO also said that the group’s performance outside the UAE was boosted by strong growth in emerging markets like Asia-Pacific, Africa, the Americas Peru and China. The CEO pointed out that DP World would continue to look for new opportunities and new projects within these markets as they still feature high potentials and low penetration.

Sharaf added that the second half of the fiscal year is usually the stronger trading period for the group, but he is concerned about the global economy’s status which might affect the group’s performance and global container market. Experts, on the other hand, forecast a 5 to 6 percent growth in the container market this year.