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DP World Says H1 Consolidated Volumes Down 5.7%

DP World Says H1 Consolidated Volumes Down 5.7%

The port operator’s volumes dropped in Asia, Europe and the Middle East.

Dubai’s DP World, the world’s third biggest port operator, on Wednesday reported a 5.7 per cent decline in consolidated container volumes in the first half of the year, as volumes dropped in Asia, Europe and the Middle East.

DP World, one of the more profitable assets of conglomerate Dubai World, handled 12.8 million TEU – or twenty-foot equivalent unit – in six months ending June 30, it said in a bourse statement.

This compares with 13.6 million TEU in the corresponding period in 2012.

Consolidated volumes for the second quarter of the year was 6.6 million TEU. No comparative figure was provided for the previous year quarter.

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.

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