DP World Q1 Consolidated Volumes Down 6.4%

Dubai’s DP World, the world’s third biggest port operator, on Thursday said consolidated container volumes dropped 6.4 per cent in the first quarter of the year, amid challenging operating conditions.

DP World, one of the more profitable assets of Dubai World , said it handled 6.2 million TEU – or twenty-foot equivalent container unit – in the quarter, according to a company statement. This compares with 6.6 million TEU in the year-earlier period.

The company said its gross volumes handled in the quarter were 12.8 million TEU, down seven per cent from 13.8 million TEU in the prior-year period. The gross volumes include all terminals in which DP World owns a stake.