New Delhi, Jan 2 (FN Agency) Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday reported 42% year-on-year rise in cargo volumes at 35.65 metric million tonnes (MMT) in December 2023. For the quarter ended December, APSEZ handled around 109 MMT of overall cargo, with around 106 MMT contributed by its domestic ports portfolio. In the initial nine months of FY24, APSEZ managed around 311 MMT of total cargo, up 23% year-on-year. “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 Karan Adani, CEO and Whole Time Director, APSEZ. APSEZ 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). Mundra, the flagship Adani group 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, according to APSEZ. “It handled 3,000 ships in just 261 days, surpassing its previous record of 288 days in FY23,” the private port operator said.