Adani Ports has recorded its largest port cargo volumes ever in the current financial year. With a total cargo volume of 339 million metric tonne (MMT), the company witnessed a growth of 9 percent year-on-year (YoY).
However, the figure was lower than the company’s guidance of 350-360 MMT for the full year, which it had maintained during its December quarter earnings.
For the month of March, Adani Ports handled 32 MMT of total cargo, crossing the 30 MMT mark for the first time since July last year. According to the company, it has been consistently increasing its market share in the past years, outperforming all of India’s cargo volume growth.
It has handled 8.6 MTUs of overall container volumes in India, with a Year-on-Year growth of 5 percent. Of this, 6.6 MTEUs came from Mundra, making it the largest container terminal in India. The company also handled over 5 lakh TEUs of container rakes, implying a year-on-year growth of 24 percent.
3,068 unique customers were serviced across its different business units, handling 6,573 ships, 40,482 rakes, and 48.89 lakh trucks, trailers and tankers.
During the year, the company handled the deepest container vessel and the largest vessel ever handled by any Indian port. Mundra also docked its first LNG-fueled vessel, Aframax Crude Oil Tanker, at its SPM facility.
Hazira reported its highest ever sugar cargo volume of 1.15 MMT, and Krishnapatnam recorded an all-time high gypsum discharge of 1.17 MMT.
Gangavaram dispatched the highest amount of alumina bulkers on a single day, while Dhamra exported 1,57,000 MT of iron ore on MV Mojo, which sailed out with a deep draft of 17 meters. Kattupalli posted a 58 percent rise in container volume.
Shares of Adani Ports are oscillating between gains and losses, currently trading 0.9 percent higher at Rs 633.45.
Source: Hellenic Shipping News
