Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest integrated transport utility, has achieved its highest ever monthly cargo throughput by handling 37 million metric tonnes (MMT) of cargo in October 2023. This represents a stellar 48% growth compared to October last year. This is the first time that APSEZ’s portfolio of ports across India handled over 35 MMT of cargo.
The strong performance was driven by robust handling of containers, dry bulk cargo like coal and iron ore, and liquid cargo.
APSEZ’s flagship Mundra port crossed a milestone by handling over 16 MMT of cargo in a single month. Overall, Mundra handled 102 MMT cargo between April-October 2023, clocking 9% year-on-year growth.
The company’s Dhamra port in Odisha saw 19% year-on-year volume growth, mainly due to increased iron ore exports from the country. Recently acquired Gangavaram port registered 13% higher volumes compared to last year. Other ports like Tuna, Ennore and Kattupalli also achieved double-digit volume growth during April-October 2023.
On the container side, APSEZ handled 5.5 million twenty-foot equivalent units (TEUs) across its ports in India during April-October, up 13% year-on-year. Out of this, 4.2 million TEUs were handled at Mundra port alone.
The company has strategically built a network of ports, inland container depots and warehouses covering most of India’s hinterland. This integrated logistics capability is enabling customers to bring in larger vessels and shipments, thus reducing overall logistics costs.
During April-October 2023, APSEZ’s ports handled around 5,700 vessel calls and 27,300 rake movements, including some of the largest ships docked by the respective ports.
For instance, Mundra port successfully berthed MV MSC Hamburg which is 399 meters long and can carry 15,908 TEUs. The port also set a new record by handling 114 over-dimensional containers in a single vessel, MV CMA CGM Figaro.
Krishnapatnam port, known for handling large capesize vessels, berthed its biggest ship till date – 335 meters long and almost 43 meters wide. Dhamra port, where an LNG import facility was commissioned recently, berthed its first LNG-powered capesize ship MV UBUNTU UNITY.
Kattupalli port sailed past its previous record by berthing MV Seaspan Beacon which carried 10,000 TEUs. The port also berthed a container vessel with record draft of 14.5 meters.
“The growth in October cargo volumes demonstrates the success of our strategy focused on operational excellence, integrated services and long-term partnerships with customers,” said Karan Adani, CEO of APSEZ.
He added that the strong performance highlights APSEZ’s ability to adapt to global volatility and continue on its journey of sustainable growth.
APSEZ has already handled 240 MMT of cargo between April-October 2023, which puts it on track to meet its full year guidance of 370-390 MMT. The company’s logistics business involving rail and bulk cargo transportation is also seeing strong traction.
With around 95% of India’s EXIM trade handled by ports, boosting port infrastructure is key to economic growth and progress towards a $5 trillion economy. APSEZ’s capability to handle large vessels with deeper drafts allows customers to ship bigger parcels at lower logistics costs.
Adani Group aims to be the largest integrated transport utility globally within a decade. APSEZ is also working towards a target of becoming carbon neutral by 2025 and was the first Indian port to commit to Science Based Targets initiative for emission reduction.
Second Quarter Performance
This follows a strong performance in the second quarter, when it handled 91 million metric tonnes (MMT) of cargo across its ports in India and Israel, marking a growth of 17% over the same period last year. APSEZ’s flagship Mundra port reached a major milestone by handling over 50 MMT of cargo in a quarter.
The strong volume growth was driven by an increase in handling of all major cargo categories. Dry bulk volumes were up 18% with coal and fertilizers leading the growth. Container volumes grew 12% with Mundra port recording a 15% increase. Liquid volumes were higher by 20% year-on-year. The automobile segment witnessed a robust 44% volume growth as supply chain disruptions eased.