DP World to expand Jebel Ali Port with Terminal 4.
DP World is to expand its flagship Jebel Ali Port with the construction of Terminal 4.
The planned construction work will see the port's capacity increase by 3.1-million twenty-foot equivalent units (TEU) by 2018, taking its overall capacity to 22.1-million TEU.
The expansion plans were unveiled following the news that the Dubai-headquartered shipping firm saw 4.1% like-for-like gross volume growth during the first half of 2015.
Commenting on the growth statistics, Sultan Ahmed Bin Sulayem, DP World's chairman, said: "Our flagship Jebel Ali Port continues to respond to market demand, and we are on track to deliver an additional two-million TEU of capacity in Terminal 3 in the second half of 2015. Despite the new capacity additions, Jebel Ali continues to operate at high levels of utilisation, and given the strong domestic and regional growth outlook - including the lead up to Expo 2020 - we are delighted to announce construction of Terminal 4, which will deliver phase one new capacity of 3.1-million TEU by 2018.
"This will take total Jebel Ali capacity to 22.1-million TEU, and will ensure our flagship asset continues to have sufficient capacity to serve the future growth demand of the UAE and the wider region," he noted.
DP World handled 30.6-million TEU across its global portfolio of container terminals during H1 2015, with gross container volumes growing by 4.1% on a like-for-like basis. On a reported basis, gross volumes grew by 4.2%.
This growth was largely driven by Europe and UAE terminals, according to the company. 7.9-million TEU were handled in the Emirates, representing growth of 6%. Like-for-like growth across Europe, Middle East, and Africa (EMEA) was 6.9% during the first six months of the year.
Mohammed Sharaf, group chief executive at DP World, stated: "Our portfolio has delivered a resilient performance, despite facing various economic headwinds. The significant investment made in recent years continues to stand us in good stead as our ability to deliver relevant capacity in the right markets resonates well with our customers.
"This once again demonstrates that operating a global portfolio, focused on faster growing markets and origin and destination cargo, continues to be the right strategy to follow.
"It has been well documented that market conditions in the first half [of 2015] have been relatively challenging. Full-year market volume growth is now forecast to be approximately 3%, and DP World is expected to perform ahead of the market. Overall, given the solid first-half volume performance, we remain confident of meeting full-year market expectations," he added.
Outside the UAE, DP World's Rotterdam, Netherlands and Nhava Sheva, India facilities are now operational. Yarimca. Bin Sulayem said that the firm's port in Yarimca, Turkey is on course to launch during the final quarter of 2015, and that Fairview, Canada is expected to complete during the second half of the year.
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