The largest private port operator in India, Adani Ports and Special Economic Zone (APSEZ), announced a 42% year-over-year growth in December 2023, along with a massive jump in cargo volumes (crossing the 300 MMT cargo milestones in just 266 days).
The firm handled around 109 MMT of cargo overall for the quarter that ended in December, of which approximately 106 MMT came from its portfolio of domestic ports. For the first nine months of 2024, the total amount of cargo handled was 311; this is a 23 percent increase over the previous year.
“APSEZ exceeded its previous high of 329 days in the previous fiscal year to reach the 300 MMT freight milestone in only 266 days. This achievement only confirms that our plan to increase operational effectiveness to generate growth that leads the industry is work as intended. Mr. Karan Adani, CEO and full-time director of APSEZ, stated, “We are now aiming above 400 MMT of cargo volumes in FY24, exceeding the top end of the projection range (370–390 MMT) issued at the start of the current financial year.
The largest container handling port in the nation, Mundra in Gujarat, is one of the 13 ports and terminals operated by Adani Ports. During a record nine months, the flagship Mundra port handled around 5.5 million twenty-foot equivalent units (a general unit of cargo capacity) and is expected to exceed 7 million TEUs of container cargo volumes during FY24. With 16 MMT of cargo handled in October 2023, the port set a new record for the greatest cargo volumes handled by an Indian port in a single month.
According to a press statement from the corporation, the Dhamra Port handled the most dry cargo (1,85,856 MT), breaking the previous record of 1,73,524 MT.
