Adani Ports Records 42% YoY Growth In Cargo Volume In December 2023

Adani Ports Records 42% YoY Growth In Cargo Volume In December 2023

For the quarter ended December, APSEZ handled around 109 MMT of overall cargo, with around 106 MMT contributed by our domestic ports portfolio.

FPJ Web DeskUpdated: Tuesday, January 02, 2024, 03:26 PM IST
article-image
Adani Ports Records 42% YoY Growth In Cargo Volume In December 2023 | Representative Image

In December 2023, Adani Ports and Special Economic Zone Ltd (APSEZ) handled 35.65 MMT of cargo volumes, resulting in a strong 42 per cent year-on-year (YoY) increase, the company on Monday announced through an exchange filing.

Dry bulk cargo handling was up 63 per cent while handling of containers increased by over 28 per cent on a YoY basis.

For the quarter ended December, APSEZ handled around 109 MMT of overall cargo, with around 106 MMT contributed by our domestic ports portfolio. In the initial nine months of FY 24, APSEZ managed around 311 MMT of total cargo, which is a healthy 23 per cent YoY growth.

“APSEZ crossed the 300 MMT cargo mark in just 266 days versus its previous best of 329 days in the previous financial year. This milestone only proves that our strategy of driving operational efficiencies to achieve industry leading growth is yielding the desired results. We are now targeting over 400 MMT of cargo volumes in FY24, surpassing the upper end of the guidance range (370-390 MMT) provided at the start of the current financial year,” said Karan Adani, CEO and Whole Time Director, APSEZ.

APSEZ Ports, led by Mundra, reached significant container handling and cargo volume

During April to December 2023, several APSEZ ports, notably Mundra, achieved significant milestones. Mundra Port handled approximately 5.5 million TEUs within nine months, aiming to exceed 7 million TEUs in container cargo volumes for FY24. It managed 3,000 ships in 261 days, surpassing its previous FY23 record of 288 days.

The AICTPL terminal at Mundra Port set a national record by handling 3,00,431 TEUs in November 2023, breaking its prior record set in March 2021. In October 2023, the port handled 16 MMT of cargo, establishing the highest cargo volume by an Indian port in a single month.

Other APSEZ ports highlights

Various ports across both the east and west coasts have reached significant milestones during the first nine months of FY24. Krishnapatnam, the second largest port in the APSEZ portfolio, docked its largest vessel with dimensions of LOA 335.94 meters and beam 42.94 meters. Similarly, Gangavaram Port achieved a milestone by berthing its deepest draft vessel, measuring 18.12 meters, in December.

Dhamra Port set a new record by handling 1,85,856 MT of dry cargo, surpassing its previous record of 1,73,524 MT. Additionally, it welcomed its first LNG-powered capesize vessel, MV UBUNTU UNITY, and completed a 9.687 km railway doubling line in December, enhancing its handling capacity.

Karaikal Port successfully docked a cape size vessel with a draft of 13.6 meters, marking its largest parcel size. It also managed its highest monthly volume of soda ash, reaching 30,350 MT in December.

Ennore terminal showcased exceptional performance, surpassing its earlier peak volume by handling over 65,000 TEUs in November '23 and accommodating its largest shipment of 7,238 TEUs. Kattupalli Port made a significant achievement by berthing MV Seaspan Beacon with 10,000 TEUs, surpassing its previous record of 8,600 TEUs.

Dahej Port handled its largest fertilizer vessel (68,763 tonnes), largest steel coil vessel (27,130 tonnes), and its inaugural copper concentrate vessel (20,484 MT). The Tuna terminal set records by managing a discharge volume of 70,432 MT with three vessels at berth in a single day in December and handling its highest-ever fertilizer cargo vessel (1,37,041 MT).

Logistics volumes continue to rise, with record high year-to-date rail volumes of around 4,37,000 TEUs, marking a 22 per cent increase year-on-year, and bulk cargo volumes (General Purpose Wagon Investment Scheme) reaching 14.26 MMT, approximately 47 per cent higher year-on-year.

RECENT STORIES

National Pension Scheme: Key Features, Tax Benefits, And Eligibility Explained

National Pension Scheme: Key Features, Tax Benefits, And Eligibility Explained

EPFO Reports Highest Monthly Net Member Addition In December 2023

EPFO Reports Highest Monthly Net Member Addition In December 2023

High Security Registration Plates: Is It Mandatory? Everything You Need To Know From Application To...

High Security Registration Plates: Is It Mandatory? Everything You Need To Know From Application To...

Truce At Last, PayPal Registers With FIU Under Anti-Money Laundering Law

Truce At Last, PayPal Registers With FIU Under Anti-Money Laundering Law

Centre Mulls Setting Up Maritime Development Fund

Centre Mulls Setting Up Maritime Development Fund