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DP World Delivers Throughput of More Than 20 Million TEU for First Half of 2009
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DUBAI, United Arab Emirates--(Business Wire)-- (ME NewsWire): - Global marine terminal operator DP World today announced it handled more than 20 million TEU (twenty-foot equivalent container units) across its portfolio of 49 terminals in the first six months of 2009. Those terminals that are consolidated1 for accounting purposes reported a throughput of 12.3 million TEU, a decline of 10% against the same period last year. Despite this decline in volume, DP World continued to outperform the market 2 given our diversified global port portfolio favouring those markets where container trade volumes have been less impacted by the challenging macroeconomic climate, in particular across the Middle East. For the first six months of the year, the UAE reported a 7% decline in volumes to 5.4 million TEU. In the first half of the year we have opened our new terminal development at Doraleh, Djibouti and two terminals in Algeria, at Algiers and Djen-Djen, have joined our network taking our operational terminals to 49 terminals across 27 countries. Chief Executive Officer, Mohammed Sharaf commented: "The first six months of 2009 have seen some of the most challenging operating environments our industry has ever known.Whilst DP World has performed better than the market, the 10% decline in consolidated volumes will lead to an inevitable decline in first half profit before tax3 against the same period last year. "The unpredictable trends in global trade we have seen in the first half of the year continue into the second half of the year.Our terminals remain very focused on cost cutting and improving efficiencies to minimise the impact of declining volumes on profitability.We are also ensuring that our portfolio emerges in a highly competitive position to benefit from recovery in global trade.At this stage we expect to deliver full year results in line with expectations." 2009H1 Consolidated Throughput Summary Approx Region Splits 2008 H1 TEU (millions) 2009 H1 TEU (millions) Decline 2009H1 v 2008 H1 Americas and Australia 1.9 1.6 -16% Asia Pacific, India Subcontinent 3.0 2.7 -10% Europe, Africa, Middle East 8.7 7.9 - 9% TOTAL TEU 13.6 12.3 -10% *Source: ME NewsWire About DP World DP World is one of the largest marine terminal operators in the world, with 49 terminals and 12 new developments across 31 countries(1). Its dedicated, experienced and professional team of nearly 30,000 people serves customers in some of the most dynamic economies in the world. DP World aims to enhance customers` supply chain efficiency by effectively managing container, bulk and other terminal cargo. The company constantly invests in terminal infrastructure, facilities and people, working closely with customers and business partners to provide quality services today and tomorrow, when and where customers need them. In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship Jebel Ali facility in Dubai, which has been voted "Best Seaport in the Middle East" for 15 consecutive years. In 2008, DP World handled more than 46.8 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia - an increase of 8% on 2007. With a pipeline of expansion and development projects in key growth markets, including India, China and the Middle East, capacity is expected to rise to around 95 million TEU over the next ten years. www.dpworld.com (1) As of June 2009. 1Consolidated terminals are those terminals where DP World has majority ownership or operational/management control.There were 26 of our 49 terminals consolidated during the period. 2Drewry Shipping Consultants estimate volumes for the first six months of 2009 to be 14.2% lower than the same period last year 3Adjusted profit before tax is before separately disclosable items DP World Sarah Lockie, +971 4 8080835 (Media) sarah.lockie@dpworld.com Fiona Piper (Investors) Mobile: +971504220405 London direct line: +442079014142 fiona.piper@dpworld.com Copyright Business Wire 2009 http://www.businesswire.com/news/home/20090730005806/en
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