Summary Box: DP World's port business grows

AP News
Posted: Oct 25, 2010 2:39 PM
Summary Box: DP World's port business grows

BUSY PORTS: Port operator DP World said business at its cargo terminals rose 14 percent in the third quarter, reflecting a pickup in global trade as the world economy shows signs of recovery.

THE DETAILS: The strongest gains came at ports the company manages in Asia, the Americas and Australia. The company said there are indications that business is also returning in Europe and its home market in the United Arab Emirates. The Dubai-based firm is the world's fourth-largest seaport operator with operations at 50 cargo terminals on six continents.

THE OUTLOOK: CEO Mohammed Sharaf described the volume of cargo containers as "back in line with 2008 peak levels." Sharaf said overall growth in the second half is likely to be stronger than in the first half of the year.

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