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Adani Ports Reports Huge Growth In Cargo Volumes

2024-01-02 11:05:28

Adani Ports Reports Huge Growth In Cargo Volumes

India’s largest private port operator Adani Ports and Special Economic Zone (APSEZ) reported a huge surge in cargo volumes (crossed 300 MMT cargo mark in just 266 days), reporting a 42 per cent year-on-year increase in December 2023. 

For the quarter ended December, the company handled around 109 MMT of overall cargo, with around 106 MMT contributed by domestic ports portfolio. The overall cargo handling for the initial nine months of 2024 stood at 311, reflecting a year-on-year growth of 23 percent. 

“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 Mr Karan Adani, CEO and Whole Time Director, APSEZ.

Adani Ports operates 13 ports and terminals in the country including its largest container handling port, Mundra, in Gujarat.

The flagship Mundra port handled around 5.5 million twenty-foot equivalent unit (a general unit of cargo capacity) in a record nine months and is on track to surpass 7 million TEUs of container cargo volumes during FY24. 

In October 2023, the port handled 16 MMT of cargo volumes and established a new milestone of achieving the highest cargo volumes by any Indian port in a single month. 

The Dhamra Port handled the highest quantity of dry cargo (1,85,856 MT), surpassing the previous record of 1,73,524 MT, said the company in a press release. 

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

Adani Ports and Special Economic Zone,Adani Ports Cargo Volume

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