Adani Ports and Special Economic Zone (APSEZ) has reported a notable 7% year-on-year increase in cargo volumes, handling 183 million metric tonnes (mmt) from April to August 2024. This growth reflects the company’s resilience, even as operations faced significant disruptions, including a workers’ strike at Gangavaram Port and severe weather conditions affecting cargo handling at Mundra and Tuna ports in August. The strike, which persisted from April to May, was resolved by June, allowing for a return to normal operations, reports Cargo Connect.
Despite these challenges, APSEZ remains optimistic about meeting its fiscal year 2025 target of 460-480 mmt. The company is actively expanding its capacity and reinforcing its strategic presence.
Increase in fleet
Additionally, APSEZ plans to acquire an 80% stake in Singapore-based Astro for USD 185 million. This acquisition will increase its fleet to 168 vessels, allowing APSEZ to enhance its operations across the Middle East, India, Far East Asia, and Africa.
India’s largest integrated transport
APSEZ is steadfast in its vision to become India’s largest integrated transport utility and the world’s largest private port operator by 2030.
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Source: Cargo Connect
