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Content provided by : Shipping Gazette
2 Nov 2009
DP World sees tough fourth quarter, especially in UAE region

Global ports operator DP World has announced that third quarter container volumes were down six per cent compared to the same period last year.

It said box volumes in the first nine months of the year were eight per cent lower than in January-September 2008, without providing exact throughput results.

The company said in a statement that in the third quarter, volumes in the United Arab Emirates region were in line with the same period last year, resulting in volumes for the first nine months of the year being down five per cent against the prior year period.

In August, the UAE region handled just over one million TEU, "reflecting the continued resilience of the Middle East, Indian subcontinent and Africa to the global economic downturn," it said.

"We are encouraged that trading in the third quarter of this year has seen volumes begin to stabilise after the significant declines of the first half," said DP World CEO Mohammed Sharaf.

But the final quarter of 2009 will present challenges "with tough prior year comparisons" he said, "particularly in the UAE region where we also anticipate a continuation of significant non-container revenue declines."

Having said this, he added that the company is confident it will deliver 2009 results in line with market expectations.