APSEZ witnesses 25 per cent cargo growth in FY24

APSEZ handles 420 MMT cargo globally

Adani Ports and Special Economic Zone Ltd (APSEZ) has handled 420 million metric tonnes (MMT), an increase of 24 per cent year-over-year (YoY) cargo in FY24 (including international ports).

It has also handled its highest ever monthly cargo volumes (incl. international ports) of over 38 MMT in March 2024.

According to APSEZ, 10 of its ports and terminals handled record cargo volumes: Mundra 180 MMT, Tuna 10 MMT, Hazira 26 MMT, Mormugao 5 MMT, Karaikal 12 MMT, Ennore 13 MMT, Kattupalli 12 MMT, Krishnapatnam 59 MMT, Gangavaram 37 MMT and Dhamra 43 MMT.

During FY24, more than one-fourth of all India cargo volumes was reportedly routed through APSEZ ports.

READ: APSEZ appoints new Managing Director

Karan Adani, Managing Director, APSEZ, said: “While it took 14 years for the company to achieve the first 100 MMT of annual cargo throughput, the second and third 100 MMT throughputs were achieved in five years and three years.

“The latest 100 MMT mark has been achieved in less than two years. This is a testament to our ongoing commitment and efforts towards enhancing operational efficiencies and maintaining our position as a top port operator in the industry.”

In the container segment, the ports at Mundra, Hazira, Kattupalli and Ennore handled record volumes.

Approximately 44 per cent of the containerised seaborne cargo in India moves through APSEZ ports. Its container volumes have grown by 2X of India’s container growth (11 per cent as compared to the all-India growth of 5 per cent) in the last five years.

Mundra port handled record container volumes by rail of 1.9 MTEU, a growth of 12 per cent over last year. Till February 2024, the double stack coefficient was 59 per cent as compared to last year’s 54 per cent.

In the dry cargo segment, ports such as Tuna, Mormugao, Karaikal, Krishnapatnam, Gangavaram and Dhamra handled record volumes this financial year.

Dhamra berthed its first LNG-powered cape-sized vessel, MV Ubuntu Unity, while Krishnapatnam berthed its largest-ever vessel with dimensions of length overall (LOA) 335.9 metres and beam 42.9 metres.

With regard to liquid cargo, Mundra, Kattupalli, Krishnapatnam and Dhamra also reportedly handled record volumes.

In March, APSEZ announced that it is set to purchase a 95 per cent majority stake in Odisha’s Gopalpur Port for a value of 13.49 billion rupees ($161.74 million) to bolster its east coast presence.

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