Adani Ports registers the largest cargo volume with almost 339 MMT in FY23

Adani Ports and Special Economic Zone Ltd (APSEZ), run by Gautam Adani, handled 339 million tonnes (MMT) in the period April 2022 to March 2023, the highest ever in its network of 13 ports. Growth of 9.5 percent was recorded in March.

On Wednesday, the group issued a statement claiming that it handled 32 MMT in total cargo in March 2023, and this was the first time since July 2022 that the volume had surpassed the 30 MMT mark.

But FY23 numbers were lower than FY22. In FY22, Adani Ports recorded 312 MMT, a 26 percent year-on-year growth from 247 MMT a year earlier.

The company claimed that it has outpaced all of India’s cargo volume growth and increased its market share in recent years.

It added that the total container volume handled by APSEZ in India jumped to 8.6 MTUs, a 5 percent year-on-year growth, including 6.6 MTEUs at Mundra alone. The seaport handled a total of 155 MMT total cargo during the year.

“APSEZ’s flagship port, Mundra, surpasses all of its closest competitors and remains the largest port in the country in terms of volumes handled. Mundra’s infrastructure meets world standards and offers service levels on par with its global competitors, making it India’s gateway for containerized goods,” said Karan Adani, CEO and Whole Time Director, APSEZ.

The company said in its statement that in FY23, APSEZ set some new milestones in the number of vessels docked (6,573), rakes serviced (40,482) and trucks, trailers and tankers handled (48,89,941). It also said that Adani Ports served 3,068 unique customers across its various business lines.

On the logistics business segment side, the company said its logistics had a good year. “The container rakes handled over the course of the year reached a new milestone of 500,000 TEU, which is 24 percent more than in the previous year. The transported bulk cargo exceeded 14 MMT, representing a 62 percent increase over the previous year,” it said.

The Gautam Adani-led company said its draft ports have helped its customers bring larger ship packages, thereby reducing their overall logistics costs.

“Mundra handled the deepest container ship ever handled from an Indian port – MSC Washington with an arrival draft of 17.0 meters – and the largest ship, MSC Fatma, with a length of 366 m and a deadweight load of 15,194 TEU. The port also docked its first LNG-powered vessel, the Aframax Crude Oil Tanker, at its SPM facility. The draft is 14 meters long and has a total displacement of 1,26,810 tons,” the company said.

Adani Ports and Special Economic Zone (Adani Ports) shares rose 2 percent in early trade on Wednesday. It is currently trading at Rs 633.45.

On Monday the company announced it had completed the acquisition of Karaikal Port Private Limited (KPPL) for Rs 1,485 crore after the National Company Law Tribunal (NCLT) approved the transaction.

Karaikal Port, located in Karaikal District of Puducherry State, is an all-weather deep-water port developed under a public-private partnership (PPP) by the Government of Puducherry in BOT (Build, Operate and Transfer) format.

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