APSEZ posts 48% growth in cargo handling
At seaports it operated in October
image for illustrative purpose
New Delhi Adani Ports and Special Economic Zone Ltd (APSEZ) on Friday reported a 48 per cent growth in cargo handling at seaports it operated in October.
The billionaire Gautam Adani’s firm handled about 37 million metric ton (MMT) of total cargo in October, up 48 per cent year-on-year (Y-o-Y). “APSEZ records its highest ever monthly cargo volumes of 37 MMT, with approximately 36 MMT contributed by its ports in India. “For the first time in the company’s history, the total cargo volume of our portfolio of ports in India surpassed the 35-MMT mark to touch 36 MMT, which is a good 43 per cent Y-o-Y growth,” the company said. According to APSEZ, its Haifa Port in Israel handled over 1.1 MMT of cargo in October, marginally better than the average cargo volume run rate of the last six months. “Overall, in the initial seven months of FY24 (Apr-Oct 2023), APSEZ has handled 240 MMT of total cargo, which is a good 18 per cent Y-o-Y growth,” the company said, adding that across its ports in India, the recorded volume growth on Y-o-Y basis is around 15 per cent. APSEZ CEO and Whole Time Director Karan Adani said the improvement in cargo volumes is testimony to the success of three-prong business strategy which encompasses the focus on higher operational efficiencies, integrated business model with an end-to-end service to our customers.
