DP World 2010 throughput up 14%

DP World, one of the world's largest port operators, said container volumes rose 14 percent last year fuelled by growth in Asia, Australia and the Americas, as well as the addition of new terminals, reported Reuters.

DP World said it handled 49.6 million TEUs at its 50 terminals in 2010. In the fourth quarter, volumes rose nine percent.

The company, part of state-linked conglomerate Dubai World, also added new terminals in China and Peru which became operational last year.

"Volume growth was fuelled by strong performance in Australia, America and Asia Pacific regions as well as the continuing return of volumes to the European region," DP World said.

The company's focus on emerging markets was also paying dividends, DP World's chief executive said the statement.

DP World, one of the more profitable units of debt-laden Dubai World, sold 75 percent of its Australian port operations for $1.5 billion in December. The move was aimed at cutting debt and focusing on emerging markets.
(Source:www.cargonewsasia.com)