With 48 per cent YoY growth, Adani Ports delivers record cargo volumes in October

In a release on Friday, the Adani Group company said for the first time in its history, the total cargo volume of the portfolio of ports in India surpassed the 35 million tonne mark to touch 36 MMT, a 43 per cent YoY growth.

The company's Haifa Port in Israel handled over 1.1 MMT of cargo in October, marginally better than the average cargo volume run rate of the last six months.

Overall, in the initial seven months of FY24 (April-October), Adani Ports has handled 240 MMT of total cargo, an 18 per cent YoY growth.

"The improvement in cargo volumes is testimony to the success of a three-prong business strategy with encompasses the focus on - higher operational efficiencies, an integrated business model with an end-to-end service to our customers, and our long-term strategic partnership model with our stakeholders, including customers," said Karan Adani, CEO and Whole Time Director, APSEZ.

"It shows our commitment to using improved efficiencies and technological integrations to drive new benchmarks and achieve customer satisfaction," said Karan Adani.

During the period under consideration, Dhamra Port added LNG to its product portfolio, Mundra Port handled soda ash for the first time, Tuna Port added limestone and iron ore, Dahej Port successfully included copper concentrate and pet coke to its cargo portfolio, while Hazira Port recorded iron ore fines and steel rails for the first time, with Dighi Port adding rock phosphate, and Krishnapatnam Port received its first vessel of pyroxenite, the release said.

With around 95 per cent of India's trade volumes carried through maritime transport, the increase in cargo volume at ports reflects the country's economic prosperity. Adani Group has strategically built a string of ports across the Indian coastline along with Inland Container Depots (ICDs) and warehouses, covering the majority of the country's hinterland.

In the initial seven months of FY24, APSEZ has already docked 5,700 ships and serviced 27,300 rakes, including some of the largest ships ever handled by the respective port. (ANI)