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FINANCIAL NEWS
Dubai- DP World’s Q3 volumes dip 0.7%
31 Oct 2012
(MENAFN) Dubai’s DP World’s Chairman, Sultan Ahmed Bin Sulayem, stated that during the third quarter, consolidated terminal volumes slipped 0.7 percent from a year ago to 6.94 million TEU (twenty-foot equivalent units), reported Arabian Business.
Sulayem added that several regions posted lower annual volumes, including the Asia-Pacific and Indian subcontinent region and the Europe, Middle East and Africa (EMEA) region.
The company, which operates over 60 terminals, recorded a decline of 1 percent in its gross volumes in the quarter, reaching 14.2 million TEU.
DP World, which posted USD247 million profit and USD1.53 billion revenue in the first half, repositioned its cash into projects already within its pipeline, including Jebel Ali (UAE) and London Gateway (UK).
It is worth noting that DP World has sold stakes in Russian container terminal Vostochnaya Stevedoring Co, UK’s Tilbury Container Services, in addition to operations in Belgium.
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