Adani Ports Achieves Remarkable Growth with 42% YoY Jump in Cargo Volumes for December 2023
Portfolio ports deliver 300 MMT cargo milestone in a record 266 days
- Cargo volumes of 35.65 MMT handled in Dec 2023, implying a YoY jump of over 42%
- During 9M FY24, APSEZ handled 311 MMT of cargo, which is 23% YoY growth
- 10 ports in our portfolio delivered their highest-ever cargo volumes, recorded new operating milestones
- Mundra Port alone managed around 5.5 MTEUs in initial nine months
- On YTD basis, logistics rail volumes grew 22% and GPWIS volumes 47% YoY
Ahmedabad, 2 January 2024: In December 2023, Adani Ports and Special Economic Zone Ltd (APSEZ) handled 35.65 MMT of cargo volumes, resulting in a strong 42% year-on-year (YoY) increase. Dry bulk cargo handling was up 63% while handling of containers increased by over 28% on a YoY basis. For the quarter ended December, APSEZ handled around 109 MMT of overall cargo, with around 106 MMT contributed by our domestic ports portfolio. In the initial nine months of FY 24, APSEZ managed around 311 MMT of total cargo, which is a healthy 23% YoY growth.
“APSEZ crossed the 300 MMT cargo mark in just 266 days versus its previous best of 329 days in the previous financial year. This milestone only proves that our strategy of driving operational efficiencies to achieve industry leading growth is yielding the desired results. We are now targeting over 400 MMT of cargo volumes in FY24, surpassing the upper end of the guidance range (370-390 MMT) provided at the start of the current financial year,” said Mr Karan Adani, CEO and Whole Time Director, APSEZ.
During the Apr-Dec’23 period, many APSEZ ports recorded new milestones. Mundra, the flagship port, handled around 5.5 million TEUs in a record nine months and is on track to surpass 7 million TEUs of container cargo volumes during FY24. It handled 3,000 ships in just 261 days, surpassing its previous record of 288 days in FY23. The JV terminal at Mundra Port, AICTPL, created a national record by handling 3,00,431 TEUs (around 10,000 TEUs every day) in November 2023, breaking its own record of 2,98,634 TEUs in March 2021. In October 2023, the port handled 16 MMT of cargo volumes and established a new milestone of achieving the highest cargo volumes by any Indian port in a single month.
Milestones Recorded by Mundra Port
Other milestones recorded by Mundra Port during the period under consideration include the highest-ever parcel size of fertilizer vessel (100,282 MT), the largest count of over-dimensional container/s in a single vessel (219 TEUs), the largest shipment of soyabean oil (61,841 MT) and the berthing of the largest-ever vessel that has called on any Indian port (around 399 meters long and 54 meters wide). In December 2023, the port also handled 43 vessel movements in 24 hours, surpassing its previous record of 40 vessels.
These achievements were supported by ongoing improvements in Mundra Port’s infrastructure. It added two RMGC cranes, which are helping in expediting train turnaround times and enhancing the port’s ability to handle a greater count of rakes daily. Incidentally, the port has also started receiving double stack services from ICD Dadri through the Western Dedicated Freight Corridor (WDFC).
Other ports, both on the east and west coastline, recorded key milestones during 9M FY24. The second largest port in the APSEZ portfolio, Krishnapatnam, berthed its largest-ever vessel, having dimensions of LOA 335.94 meters and beam 42.94 meters. A similar feat was recorded by the Gangavaram Port, which berthed its deepest draft vessel of 18.12 meters in December.
The Dhamra Port handled the highest quantity of dry cargo (1,85,856 MT), surpassing the previous record of 1,73,524 MT. The port also berthed its first LNG-powered cape-sized vessel, MV UBUNTU UNITY. It commissioned a 9.687 km railway doubling line in December, enhancing capacity to handle more rakes efficiently.
The Karaikal Port successfully docked a cape size vessel, with a draft of 13.6 meters, marking its largest parcel size ever. The port successfully handled the highest-ever monthly volume of soda ash (30,350 MT) in December.
The Ennore terminal achieved an outstanding monthly throughput, crossing an impressive 65,000 TEUs in November ’23 surpassing its earlier peak volume of 59,985 TEUs. It also handled its largest ever shipment of 7,238 TEUs. The Kattupalli Port berthed MV Seaspan Beacon with 10,000 TEUs, surpassing its previous record of handling 8,600 TEUs in a ship.
The Dahej Port handled its largest fertilizer vessel (68,763 tonnes), largest steel coil vessel (27,130 tonnes) and first-ever copper concentrate vessel (20,484 MT). The Tuna terminal handled a discharge volume of 70,432 MT with 3 vessels at berth in a single day during December, surpassing its previous record of 57,609 MT. It also handled its highest-ever fertilizer cargo vessel (1,37,041 MT).
Logistics volumes continue to witness record growth, with year-to-date (YTD) rail volumes at a record high of around 4,37,000 TEUs (+22% YoY) and bulk cargo (General Purpose Wagon Investment Scheme) volumes of 14.26 MMT (around 47% YoY).
Adani Ports & Special Economic Zone Limited
Adani Ports and Special Economic Zone Limited (APSEZ) is a part of the diversified Adani Group, one of India’s leading business houses. It has evolved from a port company to an integrated transport utility, providing end-to-end solutions from the port gate to the customer’s gate. It is India’s largest port developer and operator with six strategically located ports and terminals on the west coast of India (Mundra, Dahej, Tuna and Hazira in Gujarat, Mormugao in Goa and Dighi in Maharashtra) and six ports and terminals on the east coast (Dhamra in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Karaikal in Puducherry). APSEZ has the capability to handle vast amounts of cargo from both coastal areas and the hinterland, and accounts for around 26% of the country’s port volumes. The company is also developing two transshipment ports at Vizhinjam in Kerala and Colombo in neighboring Sri Lanka. APSEZ’s ports-to-logistics platform, comprising port facilities and integrated logistics capabilities, including multimodal logistics parks, Grade A warehouses and industrial economic zones, puts it in an advantageous position as India stands to benefit from an impending overhaul in global supply chains. APSEZ aims to be the largest ports and logistics platform in the world in the next decade. APSEZ is the first Indian port and the third in the world to sign up for the Science-Based Targets Initiative (SBTi), committing to emission reduction targets to control global warming at 1.5°C above pre-industrial levels with a vision to turn carbon neutral by 2025.
For more information, please visit www.adaniports.com
