Adani Ports Cargo Volume Logs 13% Jump in April

On account of increasing container movement and increased exports of iron ore and coal to serve a rapidly rising economy, Adani group’s port company on Thursday declared its highest-ever monthly cargo volume for April. The company said in a statement that the total cargo handled by Adani Ports and Special Economic Zone Ltd (APSEZ) in April was 32.3 million tonnes. 12.8 % higher than the same month a year ago.

Both dry cargo volume growth and container volume growth contributed 9% and 13.6% respectively to this increase in cargo volumes. The largest commercial port operator in India, APSEZ is responsible for around one-fourth of all cargo traffic in the nation. The largest commercial port in India, Mundra in Gujarat, is one of the 11 seaports it runs.

Karan Adani, CEO and whole-time director, APSEZ mentioned that the majority of their ports are seeing growth in cargo volumes, which shows that their goal to increase operational efficiency is working. This will continue to increase the ROCE of port assets. He further added, “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.”

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Meanwhile, significant sequential growth in monthly volumes was observed at four ports. These include Krishnapatnam in Andhra Pradesh (5.2 million tonnes, a growth of 22.6% year over year), Dhamra in Odisha (3.3 million tonnes, a growth of 36.8% y-o-y), Tuna in Gujarat (1.15 million tonnes, a growth of 576%), and Katupalli & Ennore combined (1.7 million tonnes, a growth of 13.3% y-o-y) in Tamil Nadu. Soybean oil, which weighed 61,841 tonnes, was sent out of Gujarat’s Mundra port, beating the previous record of 57,000 tonnes (palm oil).

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