Dubai’s DP World Posts 4.4% Rise In Q1 Gross Container Volumes

Dubai’s DP World, one of the world’s biggest port operators, reported on Monday a 4.4 per cent rise in gross container volumes on a like-for-like basis in the first quarter of 2015.

Gross volumes totalled 15 million 20-foot equivalent units (TEU) in the opening three months of 2015, the company said in a bourse filing, driven by performance in Europe, Asia and the UAE — where year on year growth was 7.7 per cent.

The firm added that business conditions in Australia were mixed in the quarter, while new capacity at its Nhava Sheva operations in India, due to come on line during the first half of 2015, would help ease the constraints which weighed on performance there.

Consolidated volumes, at terminals over which DP World has control, rose 4.5 per cent on a like-for-like basis in the first quarter to 7.1 million TEU.