One of the world’s largest port operators, DP World will create a new terminal at its flagship Jebel Ali Port by 2018 that will heighten capacity by 16 %, providing to estimate demand growth in the UAE and the region.
The mentioned port operator stated that it will put in 3.1 million twenty-foot equivalent units (TEU) in Jebel Ali port by building a fourth terminal that will transport the complete capacity to 22.1 million TEU by 2018, it said in a statement. The port is already on course to boost capacity at the port by 11.8% to 19 million TEU in the second half of this year by developing Terminal 3. Jebel Ali is the Middle East and North Africa’s biggest port.
The new capacity is a reply to response from patrons conveying the requirement for more capacity at Jebel Ali due to an expected increase in trade in the run up to Expo 2020. Shipping lines will be able to bring more of the world’s largest vessels to the terminals so helping advance the competence of the nation’s supply chain.
Terminal 4 will be situated on a reclaimed island that could be extended further, intensifying future capacity to a total of 7.8 million TEU, depending on market demand.
Discretely, DP World throughout improved 4.1% on a like-for-like basis to 30.6 million TEU in the first half of this year, compared with a year previously as a result of volume intensification in Europe and the UAE terminals. At its UAE terminals, the company managed 7.9 million TEU in the first half, a 6% upsurge from a year earlier period. DP World projects to beat this year’s 3 % forecast market volume development, based on its strong first half statistics. It operated 60 million TEU across its worldwide container terminals last year, an 8% upsurge on a like-for-like basis from 2013.
It showed up an 11.7% rise in net profit to $675 million in 2014. Revenue escalated 11% to $3.4 billion in 2014 as container volumes amplified across its worldwide network of ports.
DP World, which runs over 65 terminals, could enhance its total capacity to above 100 million TEU by 2020, depending on market demand. To arrive at that target, it is obtaining terminals and broadening existing ones.
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