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Dubai Ports World grows 8.9 pct in 2014

Xinhua, February 3, 2015 Adjust font size:

Dubai Ports (DP) World, the third biggest container port operator, said on Tuesday it recorded an 8.9 percent growth in 2014 year-on-year, while the business outlook for 2015 remained mixed.

In an e-mailed statement, the company said it handled 60 million TEUs (twenty-foot equivalent units) across its global portfolio of container terminals during 2014.

The growth was largely driven by the Asia Pacific and India Subcontinent region, said the firm. In China, DP World runs two ports in Hong Kong and Qingdao while it is developing two more in Tianjin and Yantai.

The United Arab Emirates (UAE) outperformed the global average by handling 15.2 million TEUs, representing 11.8 percent of growth for the year.

New volume at London Gateway (UK) and Embraport (Brazil) also contributed to the increase in reported volumes, said the DP World.

The company operates 65 terminals across the globe.

Regarding the outlook for 2015, DP World chairman Sultan Ahmed Bin Sulayem said several new projects were in the pipeline including the development of a logistics hub in Belgium.

He added that although some of DP World's terminals continue to operate in a "challenging macro environment," market conditions across the portfolio are expected to be "generally favorable in 2015." Endit