Adani Ports registers largest cargo volume with almost 339 MMT in FY23

Billionaire Gautam Adani-led Adani Ports and Special Economic Zone Ltd (APSEZ) handled 339 million metric tons (MMT) in the period between April 2022- March 2023, which is the highest ever across its network of 13 ports. It said it recorded a growth of 9.5 per cent in March.  

On Wednesday, the group issued a statement claiming that it handled 32 MMT of total cargo in March 2023 and this is the first time since July 2022 that the volumes crossed the 30 MMT mark. 

But the FY23 numbers were lower than that of FY22. IN FY22, Adani Ports recorded a 26 per cent growth y-o-y at 312 MMT from 247 MMT a year earlier. 

The company claimed that it has outperformed all of India’s cargo volume growth and increased its market share in the past years.

It added the overall container volumes handled by APSEZ in India jumped to 8.6 MTUs, which saw a growth of 5 per cent YoY, including 6.6 MTEUs at Mundra alone. The seaport handled a total of 155 MMT of total cargo during the year. 

“The APSEZ’s flagship port, Mundra, is outpacing all its closest rivals and continues to be the largest port in the nation in terms of volumes handled. Mundra’s infrastructure meets world standards and provides service levels on par with those of its global competitors, making it India’s gateway for container goods,” said Karan Adani, CEO and Whole Time Director, APSEZ. 

The company in its statement said that in FY23 APSEZ set up some new milestones on the count of ships docked (6,573), rakes serviced (40,482), and the trucks, trailers and tankers handled (48,89,941). It also said that Adani Ports serviced 3,068 unique customers across its different business units. 

On the logistics business segment side, the company said its logistics had a good year. “The container rakes handled during the year achieved a new milestone crossing 500,000 TEUs, which was 24 per cent more y-o-y. The bulk cargo transported exceeded 14 MMT, implying a 62 per cent increase year on year,” it said.  

The Gautam Adani-led company said its deep draft ports that helped its customers bring larger vessel parcels thereby lowering their overall logistics cost.  

“Mundra handled the deepest container vessel – MSC Washington with an arrival draft of 17.0 meters – ever handled by any Indian port, and the largest vessel, MSC Fatma, with a vessel length of 366 m and carrying capacity of 15,194 TEUs. The port also docked its first LNG-fueled vessel, Aframax Crude Oil Tanker, at its SPM facility. The draft is 14 meters long with a total displacement of 1,26,810 MT,” the company said. 

Shares of Adani Ports and Special Economic Zone (Adani Ports) climbed 2 per cent in Wednesday's early trade. At present, it is trading at Rs 633.45. 

On Monday, the company said that it has completed the acquisition of Karaikal Port Private Limited (KPPL) for Rs 1,485 crore after the National Company Law Tribunal (NCLT) approved the deal. 

Karaikal Port, which is located in Karaikal District of Puducherry state, is an all-weather deep-water port that was developed on the Build, Operate and Transfer (BOT) format under Public-Private Partnership (PPP) by the Government of Puducherry. 

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