Adani Ports FY24 starts on a monthly high of 32.3 MMT: Volumes increase by 12.8% YoY

Adani Ports and Special Economic Zone Ltd (APSEZ), the largest integrated transport utility in India and a part of the diversified Adani Group, handled 32.3 MMT of total cargo in April 2023, implying a Y-o-Y growth of 12.8%. This growth in cargo volumes is supported by dry cargo volumes increase of 9% (iron ore 64%, non-coking coal 22%, and coastal coal 67%) and container volume increase of 13.6%.

“Growth in cargo volumes across most of our ports reflects that our strategy of improving operational efficiency is delivering results and this will continue to boost the ROCE of port assets,” said Mr. Karan Adani, CEO and Whole Time Director, Adani Ports and Special Economic Zone Ltd. “I am also pleased to announce that Dhamra LNG Terminal berthed its first ship and the natural gas started flowing in the pipeline network connected to the terminal, well in line with our guidance of achieving the LNG terminal commissioning during Q1 FY24.”

Four ports of the Adani Ports and Special Economic Zone Ltd, recorded significant sequential growth in monthly volumes. These include Krishnapatnam (5.2 MMT, +22.6%YoY), Dhamra (3.3 MMT, +36.8%YoY), Tuna (1.15 MMT, +57.6%YoY), and Katupalli & Ennore combined (1.7 MMT, +13.3%). Mundra Liquid Terminal handled its largest shipment of vegetable oil (soyabean oil) of 61,841 MT surpassing the previous highest of 57,000 MT (palm oil). The Gangavaram Port handled its highest monthly rakes count (88 Nos) on account of handling coastal coal cargo for one of its customers.

The investments in rail infrastructure at our ports have been one of the catalysts for our improved operational performance. Continuing that journey, Dahej Port completed the extension of overhead electric lines, enabling it to handle rakes with electric locomotives of Indian Railways.

With the commissioning of the Western Dedicated Freight Corridor (WDFC) line till Dadri in April 23, the double-stack rake services from ICD Dadri to Mundra Port will now become operational. Supported by our ICD at Patli, this connection will further boost volumes at Mundra Port, and the total rail volumes for Adani Logistics. During April, total rail container volumes grew 22% YoY to 47122 TEUs and bulk cargo (GPWIS) volumes jumped 40% YoY to 1.4MMT. This ongoing development of the country’s rail network will continue to drive the Logistics Performance Index of India in with the government’s ambition.

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