Abu Dhabi Ports profits soar to 77% in H1

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The net profits of Abu Dhabi Ports soared to 77% in the first half of the current year (H1 2016), it was announced in a press release. Abu Dhabi Ports is the master developer, operator and manager of the ports and Khalifa Industrial Zone (KIZ) in the Abu Dhabi emirate.

Maritime trade hub

The press release said that the company has experienced continuous growth as the UAE’s maritime trade hub with major growth across general and bulk cargo, container volumes and Roll-on/Roll-off (RoRo) traffic. This comes in parallel with the prosperous economic growth witnessed in the emirate of Abu Dhabi, reaffirming its prestigious commercial status across the region. Abu Dhabi Ports registered 20% growth in revenue while EBITDA (earnings before interest, taxes, depreciation and amortization) 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 rapid growth in polymer exports and transhipment activity across the Gulf, 699,776 TEUs was handled in the first six months of 2016, up from 629,941 TEUs during the same period of 2015.

Building on the infrastructure of Abu Dhabi to keep abreast with its economic growth, Abu Dhabi Ports successfully completed the implementation of the Terminal Operating System (TOS) in Zayed and Musaffah Ports. TOS is a database providing bookings, detailed tracking for containers and Gate Transaction tracking.

Logistics hub

The RoRo offering saw new levels of productivity with a record average of 206 cars handled per hour in April 2016 alone, an important boost for the automotive industry in the UAE and the region, demonstrating the growth of Abu Dhabi as a logistics hub for this industry.

During the first half of 2016, Abu Dhabi Ports witnessed an increase of 4% in RoRo volumes, compared with the same period in 2015, with 58,000 vehicles passing through the ports so far in 2016.

The amount of new land leased in Khalifa Industrial Zone is over 1.5 million square metres, 50% more than this time last year. Industries in Khalifa Industrial Zone continued to expand with an investment of over Dh40 billion. The KIZ has leased 14.5 million square meters of land, 1.9 million square meters of which is leased in the trade and logistics zone. There has also been a 17% year-on-year increase in the number of investors from 2011, with value exceeding Dh22 billion.

Ten facilities in logistics, warehousing, food, printing and packaging, aluminium workshops, repairs and mixed use are already operational, while 13 more will be operational by December 31, 2016.

Commenting on H1 2016 results, Capt. Mohamed Juma Al Shamisi, Chief Executive Officer of Abu Dhabi Ports, said: “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 US$7.8 trillion Middle East, Africa and South Asian region. 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.”

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