Led by one of India’s business moguls, Gautam Adani, the Adani Ports and Special Economic Zone Ltd (APSEZ) reported a remarkable 48% year-on-year growth in cargo handling at its seaports in October. The growth that comes with handling 37 million metric tons (MMT) of total cargo marks a landmark achievement for APSEZ as well as Adani Group. marking a historic achievement for the company. Notably, out of the 37 MMT handled, around 36 MMT of cargo was handled by the company’s Indian ports alone.
This unprecedented growth can, among other factors, be attributed to APSEZ’s international operations, including Israel’s Haifa Port. In October, the Haifa Port handled over 1.1 MMT of cargo, surpassing the average cargo volume run rate of the last six months.
For the initial seven months of fiscal year 2024 (April to October 2023), APSEZ reported an impressive 18% year-on-year growth by managing a total of 240 MMT of cargo. This growth is a testament to the company’s robust business strategy that concentrates on better operational efficiencies and working on an integrated business model providing end-to-end services to its customers.
The efforts of APSEZ’s leadership have clearly paid off, as the company achieved double-digit year-on-year growth across the three broad cargo types – dry-bulk, liquids, as well as containers.
The container segment, in particular, saw a substantial increase, with the total containers handled by APSEZ in India reaching 5.5 million twenty-foot equivalent units (MTEUs), reflecting a 13% year-on-year rise. Mundra Port, a significant contributor, handled 4.2 MTEUs on its own.
With an impressive 24% year-on-year growth in rail twenty-foot equivalent units (TEUs), APSEZ’s logistics business also played a key role in its success. Overall, this sums up the to 3,28,000 TEUs handled by Adani-operated ports in the initial seven months, in addition to a 43% year-on-year growth in bulk cargo volumes, managing 10.6 MMTs of cargo.
In these seven months, APSEZ efficiently docked 5,700 ships and serviced 27,300 rakes. Among these, the Mundra Port successfully berthed the MV MSC Hamburg, an impressive 399-meter long vessel with a carrying capacity of 15,908 TEUs.