DP World Consolidated Volumes Slip 3.8% In 2013

Dubai’s DP World, the world’s third biggest port operator, said on Wednesday its consolidated container volumes slipped 3.8 per cent in 2013 after the firm sold one of its Hong Kong assets, but rose 0.7 per cent on a gross like-for-like basis.

DP World, one of the more profitable assets of Dubai World, said terminals controlled by the company handled 26 million TEU – or twenty-foot equivalent container units – during the year. This compares to 27.1 million TEU in the year-earlier period.

But gross volumes – which include more terminals – rose slightly in like-for-like terms, DP World said.

The port operator has been selling assets globally, exiting markets where it does not have a significant presence and seeking to redeploy funds in fast-growing markets.