DP World’s third quarter container traffic dipped 1 percent from a year earlier, reflecting the Dubai-based group’s divestment of three joint venture terminals and lower volume in Europe, the Middle East and Africa.
The world’s third-largest port operator handled 14.2 million 20-foot equivalent units at more than 60 terminals worldwide in which it has stakes. Excluding the impact of divestments, gross container volume rose 0.5 percent in the quarter, it said.
DP World’s consolidated terminals, in which it has majority stakes, saw traffic decline 0.7 percent in the third quarter to 6.9 million TEUs.
Gross volume in the first nine months of the year was up 4.5 percent from a year earlier at 42.4 million TEUs, driven by strong growth across the Americas, Asia-Pacific, the Middle East and the United Arab Emirates.
Traffic in the consolidated terminals grew 0.3 percent in the first three quarters to 20.5 million TEUs.
DP World last week sold a 25 percent stake in Vostochnaya Stevedoring to Russia’s Global Ports Investment for $230 million. Earlier in the year, it sold Tilbury Container Services in the U.K. and its breakbulk operations in Antwerp and pulled out of a joint venture container terminal in the Port of Aden, Yemen.