Adani Ports and Special Economic Zone Ltd. recorded its highest-ever monthly cargo volume of 32.3 million metric tonnes in April 2023.
This record-high cargo volume implies a 12.8% growth year-on-year, according to a press release on BSE.
The growth in cargo volumes was supported by an increase of 9% in dry cargo volumes—64% iron ore, 22% non-coking coal, and 67% coastal coal—and a 13.6% increase in container volumes, the release said.
Monthly volumes of 5.2 MMT at Krishnapatnam Port and 1.5 MMT at Tuna Port were at an all-time high as well.
Apart from these, Mundra Liquid Terminal handled its largest shipment of vegetable oil at 61,841 MT, surpassing the previous high of 57,000 MT. Gangavaram Port exhibited its highest monthly rake count on account of handling coastal coal cargo for one of its customers, the release said.
"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 Karan Adani, chief executive officer and whole-time director, Adani Ports & SEZ.
In line with the company's guidance of achieving LNG terminal commissioning during Q1 FY24, Dhamra LNG terminal, leased to Adani Total Ltd. by Adani Ports, berthed its first ship, and natural gas started flowing in the pipeline network connected to the terminal, Karan Adani said.
With the commissioning of the western dedicated freight corridor line till Dadri on April 23, the double-stack rake services from ICD Dadri to Mundra Port will now become operational. This connection is expected to further boost volumes at Mundra port, and the total rail volumes for Adani logistics.
Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
