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Tuesday, April 16 2024
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Adani Ports Hits Record 420 MMT Cargo, 24% Growth

Adani Ports
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Adani Ports and Special Economic Zone Ltd (APSEZ) handled record 420 MMT (million metric tonne) cargo in FY24 (including international ports), which is an impressive 24 per cent growth (year-on-year), with domestic ports contributing over 408 MMT cargo, it announced on Monday.

The company handled its highest ever monthly cargo volumes (including international ports) of over 38 MMT in the month of March alone.

“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 5 years and 3 years,” said Karan Adani, Managing Director, APSEZ.

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

“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,” Karan Adani added.

Eight ports — 84 per cent of the portfolio by volume — delivered double digit growth.

The flagship port Mundra became the first in India to handle 16 MMT cargo in a single month (October 2023).

These accomplishments were achieved despite multiple challenges, such as the global trade disruptions caused by the Red Sea crisis, the Russia-Ukraine conflict and issues at the Panama Canal, and disruption of operations due to Cyclone Biparjoy and Cyclone Michaung.

In the container segment, the ports at Mundra, Hazira, Kattupalli and Ennore handled record volumes. Around 44 per cent of the containerised seaborne cargo in India moves through APSEZ ports, said the company.

The company’s container volumes have grown by two times of India’s container growth in the last five years.

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

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