DP World Limited handled 14.2 million TEU across its global portfolio of container terminals in the third quarter of 2013, with gross container volumes growing by 2.4% on a like-for-like basis. This was driven largely by an improved performance from our Asia Pacific and UAE terminals. On a reported basis gross volumes were flat with a 0.4% decline in the third quarter, reflecting monetisations and divestments made in previous periods.

The UAE delivered a record quarter with 3.6 million TEU handled during the period, representing growth of 5.4%. Volumes for the nine months to September 2013 exceeded 10 million TEU for the first time.

The portfolio of consolidated terminals handled 6.7 million TEU in the third quarter, delivering like-for-like volume growth of 2.0%, driven mainly by the record UAE performance. Encouragingly, volumes through their consolidated terminals in the Asia Pacific & Indian Subcontinent region are showing signs of stability.

During the third quarter, their Embraport facility in Brazil began test operations, efficiently serving vessels as it prepares to become fully operational in the fourth quarter this year.

Chairman Sultan Ahmed Bin Sulayem commented: We are very pleased to announce a robust throughput performance for the third quarter of 2013. In particular, our flagship UAE operation has recorded the best quarter in its history, reflecting the continued growth in Dubai, the UAE and the wider region. The addition of 1 million TEU capacity in June this year and the 4 million TEU of capacity due to come on line in 2014 ensure that we are well placed to cater for future growth. Looking to other developments underway, we continue to make good progress toward the delivery of Embraport (Brazil), which is now serving vessels as it readies for official opening. London Gateway (UK) remains on track to open in the fourth quarter with its first official vessel call scheduled in November.