- APSEZ handled its highest ever monthly cargo volumes of over 38 MMT in March 2024
- Eight ports – 84% of the portfolio by volume – delivered double digit growth
- 100% broad cargo types – dry, container and liquid – recorded double digit growth
- Mundra Port alone handled more than 7.4 million TEUs, which is over a third of India’s container cargo
- In the dry cargo segment, ports such as Tuna, Mormugao, Karaikal, Krishnapatnam, Gangavaram and Dhamra handled record volumes this financial year
NE BUSINESS BUREAU
AHMEDABAD, APRIL 1
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest ports and logistics company, on Monday announced it has handled 420 MMT (+24% Y-o-Y) cargo in FY24 (including international ports), with domestic ports contributing Over 408 MMT cargo. It has also handled its highest ever monthly cargo volumes (incl. international ports) of over 38 MMT in March 2024. Ten of our 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 routed through APSEZ ports. This significant contribution by APSEZ underscores its active role in driving India’s growth trajectory. It also shows that India’s largest port operator comfortably surpassed its cargo volume guidance of 370 MMT – 390 MMT provided at the start of the financial year.
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 5 years and 3 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.”
APSEZ achieved this phenomenal growth by putting customers at the forefront of all its decisions. Its approach of strategic partnerships with customers has ensured long-term associations with key stakeholders. Supported by investment in world-class infrastructure that has delivered a high level of operating efficiency and a business model focused on providing an end-to-end solution through last mile connectivity, APSEZ has managed to successfully win customers and improve its market share.
What makes these accomplishments noteworthy is that they 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.
This year saw APSEZ achieving various new operational milestones. Its flagship port Mundra became the first in India to handle 16 MMT cargo in a single month (October 2023). Its container terminal CT-3 achieved a milestone of becoming the first in India to handle 3 million TEUs during the year and around 3 lakh TEUs in a single month (November 2023). It berthed the largest-ever vessel at any Indian port (around 399 m-long and 54 m-wide) and handled the highest number of TEUs (16,569) on a single ship, MV MSC Livorno, surpassing the national best of 16,400 TEUs. It handled over 4,300 vessels, crossing its previous record of 3,938 vessels.
In the container segment, the ports at Mundra, Hazira, Kattupalli and Ennore handled record volumes. Around 44% of the containerised seaborne cargo in India moves through APSEZ ports. Its container volumes have grown by 2X of India’s container growth (~11% as compared to the all-India growth of ~5%) in the last 5 years. Mundra port handled record container volumes by rail of 1.9 MTEUs, a growth of 12% over last year. Till February 2024, the double stack coefficient was 59% as compared to last year’s 54%.
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 LOA 335.9 m and beam 42.9 m. With regard to liquid cargo, Mundra, Kattupalli, Krishnapatnam and Dhamra handled record volumes.
