Abu Dhabi Ports In Clover
- Business & Finance
Port developer and operator Abu Dhabi Ports recorded a 77% increase in net profit in the first half of 2016 compared to the same period a year earlier, spurred on by the rise in general and bulk cargo, container, and Roll-on/Roll-off (RoRo) volumes.
Abu Dhabi Ports reported a 20% revenue growth while the EBITDA margin exceeded 40%, reflecting a 15% increase compared to H1 2015 figures.
At the Khalifa Port Container Terminal (KPCT), which is operated by Abu Dhabi Terminals, container volumes increased by 11% in the first half of the year. Bolstered by growth in polymer exports and transhipment activity across the Gulf, 699,776 TEUs were handled in the first six months of 2016, up from 629,941 TEUs in the same period of 2015.
Since the beginning of 2016, the container business has seen the addition of new liner calls, providing added regional connections, primarily the Indian subcontinent, to support the transshipment business for the KPCT. Moreover, Admiral Group started their feeder services in the Gulf area along with TDS. Bay Lines has also started serving KPCT area.
During the first half of 2016, Abu Dhabi Ports saw an increase in RoRo volumes of 4% compared with the same period in 2015, with 58,000 vehicles passing through the ports so far in 2016.
“These results demonstrate the crucial role that Abu Dhabi Ports plays as a UAE’s regional and increasingly global maritime trade hub, especially for those seeking to access the USD 7.8 trillion Middle East, Africa and South Asian region,” Capt. Mohamed Juma Al Shamisi, Chief Executive Officer of Abu Dhabi Ports, said.
”We continue to invest and upgrade our offerings and facilities to support fast, inter-connected and efficient supply chains while also reaffirming Abu Dhabi’s position as a centre of excellence in maritime trade. The positive role played by Abu Dhabi Ports’ suppliers, partners and employees is at the heart of this growth, in line with the wise vision of the UAE leadership, the Abu Dhabi Plan and Economic Vision 2030.’’
Over the past six months, Abu Dhabi Ports also completed the first cruise season from the new cruise terminal. The 184,815 passengers represent an increase of 49% on this time last year, resulting in a 16% year-on-year growth from the 2015 season.