Adani Ports reports 42% YoY increase in cargo handling for November 2023
In November 2023, Adani Ports and Special Economic Zone (APSEZ) reported a remarkable 42% year-on-year increase in cargo volumes, handling around 36 Million Metric Tonnes (MMT). This substantial growth was consistent across all three broad cargo categories – dry bulk, containers, and liquids and gas.
During the first eight months of Fiscal Year 24 (April-November 2023), APSEZ managed approximately 275 MMT of cargo, registering a 21% Y-o-Y growth. This progress represents over 70% of the company’s full-year guidance range of 370-390 MMT.
Adani International Container Terminal Private Limited (AICTPL), a joint venture terminal at the Adani Ports and Special Economic Zone in Mundra, achieved a significant milestone in November by handling over 300,000 containers. This achievement not only marks a historic event in Indian maritime history but also sets a new national record for container handling.
APSEZ’s Cargo Handling Soars to New Heights with Significant Y-o-Y Growth
AICTPL created this record by handling 300,431 Twenty-foot Equivalent Units (TEUs) across 97 vessels in November 2023, surpassing its previous record of 298,634 TEUs in March 2021. The terminal managed approximately 10,000 TEUs daily.
Two other ports under APSEZ, Dhamra and Ennore, also recorded their highest ever monthly volumes, handling 3.96 MMT and 65,658 TEUs, respectively.
Logistics volumes continued to witness record growth with year-to-date rail volumes of around 379,000 TEUs and general purpose wagon investment scheme (GPWIS) volumes of 12.3 MMT. November 2023 saw the highest-ever monthly GPWIS volumes at 1.72 MMT.
APSEZ’s pivotal role in India’s economic growth and as a leader in the maritime industry is evident through these achievements. The company’s ability to handle growing cargo volumes highlights its crucial position in facilitating trade and contributing to the country’s economic growth. The achievements not only reinforce APSEZ’s position as a leader in the maritime industry but also exemplify the company’s commitment to operational efficiency, innovation, and meeting industry demands.