Adani Ports records its highest-ever monthly cargo volume in Apr’23, states a Business Today news source.
Adani Ports handled 32.3 MMT of cargo
Adani Ports handled 32.3 MMT of cargo in the first month of FY24, a volume increase by 12.8% year-on-year. Krishna port and Tuna Port recorded monthly volumes at an all-time high. Domestic container cargo volume jumped 13.6 per cent.
Adani Ports and Special Economic Zone Ltd (APSEZ) handled 32.3 MMT of total cargo in April 2023, implying a year-on-year growth of 12.8 per. This growth in cargo volumes is supported by dry cargo volumes increase of 9 percent (iron ore 64 per cent, no-coking coal 22 per cent, and coastal coal 67 per cent) and container volume increase of 13.6 per cent, the company said in a release.
“Growth in cargo volumes across most of our ports reflects that our strategy of improving operational efficiency is delivering results and this will continue to boost the ROCE of port assets,” said Karan Adani, CEO and Whole Time Director, APSEZ. “I am also pleased to announce that Dhamra LNG Terminal berthed its first ship and the natural gas started flowing in the pipeline network connected to the terminal, well in line with our guidance of achieving the LNG terminal commissioning during Q1 FY24.”
Significant sequential growth
Adani Ports, the largest integrated transport utility in India, reported significant sequential growth in monthly volumes in four ports, which included Krishnapatnam (5.2 MMT), Dhamra (3.3 MMT), Tuna (1.15 MMT), and Katupalli & Ennore combined (1.7 MMT). Mundra Liquid Terminal handled its largest shipment of vegetable oil (soyabean oil) of 61,841 MT surpassing the previous highest of 57,000 MT (palm oil).
The investments in rail infrastructure at the ports have been one of the catalysts for Adani Port’s improved operational performance, the company said. With the commissioning of the Western Dedicated Freight Corridor (WDFC) line till Dadri in April 23, the double-stack rake services from ICD Dadri to Mundra Port will now become operational, it added. Supported by Adani Port’s ICD at Patli, this connection will further boost volumes at Mundra Port, and the total rail volumes for Adani Logistics. During April, total rail container volumes grew 22 per cent YoY to 47122 TEUs and bulk cargo (GPWIS) volumes jumped 40 per cent YoY to 1.4 MMT.
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Source: Business Today
