Adani Ports surpasses record 420 MMT global cargo milestone, achieves unprecedented growth
Author: BI Bureau
Ahmedabad: Adani Ports and Special Economic Zone Ltd (APSEZ) has achieved remarkable milestones in the fiscal year 2023-24, with a notable increase in global cargo handling to a record-breaking 420 million metric tonnes (MMT), marking a 24 percent year-on-year rise. Domestic ports contributed over 408 MMT of this total.
March 2024 witnessed APSEZ's highest-ever monthly cargo volumes, surpassing 38 MMT. Ten ports and terminals under APSEZ set new records, including Mundra with 180 MMT, Tuna with 10 MMT, Hazira with 26 MMT, Mormugao with 5 MMT, Karaikal with 12 MMT, Ennore with 13 MMT, Kattupalli with 12 MMT, Krishnapatnam with 59 MMT, Gangavaram with 37 MMT, and Dhamra with 43 MMT, according to an official press statement.
According to a company release, Karan Adani, Managing Director of APSEZ, credited this exceptional growth to the company's customer-centric approach and strategic partnerships. He highlighted the significant acceleration in achieving cargo throughput milestones, with the latest 100 MMT mark attained in less than two years, showcasing APSEZ's dedication to operational excellence.
Despite challenges like global trade disruptions and operational setbacks from natural disasters such as Cyclone Biparjoy and Cyclone Michaung, APSEZ reached various operational achievements. Mundra port notably became the first in India to handle 16 MMT of cargo in a single month (October 2023), while APSEZ's container terminal CT-3 set the record for handling 3 million TEUs during the fiscal year.
In the container segment, record volumes were observed at APSEZ ports in Mundra, Hazira, Kattupalli, and Ennore. Mundra port handled a record 1.9 MTEUs of container volumes by rail, showing a 12 per cent growth over the previous year. APSEZ ports also managed around 44 per cent of India's containerized seaborne cargo, highlighting their substantial market share, the release said.
In the dry cargo segment, ports like Tuna, Mormugao, Karaikal, Krishnapatnam, Gangavaram, and Dhamra recorded record volumes. Notably, Dhamra port welcomed its first LNG-powered cape-sized vessel, MV Ubuntu Unity, while Krishnapatnam received its largest-ever vessel. /BI/
