Adani Ports handles 420 million tons cargo in FY24, up 24% y-o-y

Adani Ports and Special Economic Zone Limited (APSEZ), India's largest private multi-modal port infrastructure provider, reported handling a record cargo volume of 420 million tons during the financial year 2022-23 (FY24). This represents a significant increase of 24% compared to the previous financial year's cargo handling volume of approximately 338 million tons.

The majority of this cargo was handled at domestic ports managed by APSEZ. In fact, domestic ports contributed over 97% of the total cargo volume, underscoring their critical role in India's domestic and international trade.

Some of the major ports under APSEZ's portfolio include Mundra Port in Gujarat, Dahej Port in Gujarat, Hazira Port in Gujarat, Dhamra Port in Odisha, and Ennore Port in Tamil Nadu. These ports cater to various commodities such as coal, iron ore, fertilizers, containerized cargo, and general cargo.

Mundra Port, which is India's largest private multi-modal port, contributed significantly to the overall growth, handling around 185 million tons of cargo during FY24, marking a 23% increase from the previous financial year. This growth can be attributed to increased demand for coal and iron ore exports, as well as the expansion of container terminals and other infrastructure projects at the port.

APSEZ's focus on capacity expansion and modernization has been instrumental in enabling it to handle such large volumes of cargo. The company has been investing heavily in its ports to increase their capacity and efficiency. For instance, it has been implementing automation and digitization initiatives to streamline operations and reduce turnaround time for vessels and trucks.

Moreover, APSEZ has been actively pursuing strategic partnerships and collaborations to further expand its reach and capabilities. For example, it recently signed an agreement with the Saudi Arabian Ports Authority to explore opportunities for cooperation and collaboration in various areas such as port development, logistics, and value-added services.

In conclusion, Adani Ports' impressive cargo handling volume of 420 million tons during FY24 is a testament to its robust infrastructure, operational efficiency, and strategic initiatives. The fact that domestic ports accounted for over 97% of this volume underscores their crucial role in India's trade landscape and APSEZ's commitment to supporting the country's economic growth.