Adani Ports Achieves Record 420 MMT Cargo with 24% Growth

By siliconindia  |  Monday, 01 April 2024, 11:07:15 AM IST

Adani Ports Achieves Record 420 MMT Cargo with 24% Growth
Adani Ports and Special Economic Zone Ltd (APSEZ) has reported remarkable achievements in its cargo handling operations during the fiscal year 2023-24 (FY24). The company announced a record-breaking throughput of 420 million metric tonnes (MMT) of cargo, marking a substantial 24 per cent increase compared to the previous year. Domestic ports contributed significantly to this milestone, accounting for over 408 MMT of cargo. Moreover, March alone witnessed the highest-ever monthly cargo volumes, surpassing 38 MMT, including international ports.
Karan Adani, the Managing Director of APSEZ, highlighted the company's exponential growth trajectory, noting that while it took 14 years to achieve the first 100 MMT of annual cargo throughput, subsequent milestones of 100 MMT were accomplished within shorter time frames of 5 years and 3 years, respectively. The recent feat of reaching 100 MMT in less than two years underscores APSEZ's commitment to operational excellence and its position as a leading port operator in the industry.
A notable aspect of APSEZ's performance is its significant contribution to India's overall cargo volumes, with more than one-fourth of the country's cargo routed through its ports. The achievement is particularly impressive considering the challenges posed by global trade disruptions, including the Red Sea crisis, the Russia-Ukraine conflict, and issues at the Panama Canal. Additionally, operational disruptions caused by Cyclone Biparjoy and Cyclone Michaung did not deter APSEZ's growth trajectory.
In the container segment, APSEZ's ports at Mundra, Hazira, Kattupalli, and Ennore reported record volumes, with approximately 44 per cent of India's containerized seaborne cargo passing through APSEZ ports. Notably, APSEZ's container volumes have outpaced India's container growth by two times over the past five years.
In the dry cargo segment, ports such as Tuna, Mormugao, Karaikal, Krishnapatnam, Gangavaram, and Dhamra also achieved record volumes during the fiscal year. These accomplishments underscore APSEZ's diversified portfolio and its ability to capitalize on emerging opportunities in various cargo segments.

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