Global marine terminal operator DP World handled 23.7 million TEU (twenty-foot equivalent container units) across its portfolio of 50 operating terminals in the first half, up 16 per cent against the same period last year and ahead of 2008.

Announcing this on Tuesday, DP World chief executive officer, Mohammed Sharaf said, 'Despite the tough comparative period, due to the resilience our portfolio showed in 2009, our consolidated terminals have continued to build on the growth reported in the first quarter of the year.'

The volumes in the first half have grown seven per cent to 13.2 million TEU or, on a like for like basis, by 10 per cent, Sharaf explained.

DP World is one of the largest marine terminal operators in the world, with 50 terminals and 11 new developments across 31 countries.

'The volume growth across our portfolio is largely driven by terminals in Asia, which are primarily reported as joint ventures and associates, in Australia, where volumes are well ahead of 2008 levels, and the recovery of some volumes across European ports,' he added.

According to Sharaf, the encouraging start to the year in the UAE region has continued into the second quarter, with volumes of 5.5 million TEU handled in the first six months, 3 per cent ahead of the same period last year.

'We have continued to invest new capacity in line with market demand and our development in Callao, Peru opened towards the end of the second quarter of the year with Vallarpadam, India and Karachi, Pakistan both scheduled to open later this year,' he said.

'The return to container volume growth we reported in the first quarter of this year has continued strongly through the second quarter, delivering a better than expected performance for the first half of 2010, particularly for our portfolio of joint venture and associate terminals.'

'These first half volumes, along with the continuation of cost management will lead to an improvement in first half profit after tax against the same period last year despite the weaker contribution from non container revenue,' Sharaf noted.

“Whilst uncertainty remains over the sustainability of trade volumes reported in the first half of the year we currently expect to deliver full year results in line with expectations,” he added.-TradeArabia News Service