DP World overcomes Middle Eastern cargo dip

DP World handled 18.3 million TEU in the second quarter, representing a year-on-year increase of 1.6 per cent. The growth was achieved despite volumes decreasing in the Middle East, and raises total first half volumes by 0.5 per cent to 35.8 million TEU.

The company’s volumes in the UAE declined by 6.3 per cent in the second quarter to 3.9 million TEU, and fell by 7.4 per cent in the first six months of the year.

The Dubai-based ports operator attributed the softening of volumes to ‘lower-margin cargo and challenging market conditions,’ reported Gulf News, Dubai.

‘However, we expect a more stable throughput performance in the UAE for the second half of the year,’ chief executive officer Sultan Ahmed Bin Sulayem was quoted as saying.