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Adani Ports & SEZ records 13% on-year growth in cargo volume in Sept

Adani Ports & SEZ records 13% on-year growth in cargo volume in Sept

Adani Ports & SEZ said that in the first six months of FY23, APSEZ managed 177.5 MMT of cargo, an increase of 11 per cent over the corresponding period last year.

Adani Ports and SEZ sees a growth in Sept volumes Adani Ports and SEZ sees a growth in Sept volumes

Adani Ports and Special Economic Zone (APSEZ) has said that its September volumes have seen a strong year-on-year increase. It said that its cargo volumes reached 26.1 MMT in September, an increase of 13 per cent year-on-year. “This volume jump is despite an extended monsoon which adversely impacted the coal demand/imports and the ban/higher duties on rice exports imposed at the beginning of the month,” it said in a filing.

The company said that in the first six months of FY23, APSEZ managed 177.5 MMT of cargo, an increase of 11 per cent over the corresponding period last year. It said that the average monthly cargo is well aligned with the annual guided range of 350-360 MMT.

During the first half of FY23, east coast volumes went up 13 per cent year-on-year, driven by Krishnapatnam  (+13 per cent), Gangavaram (+9 per cent) and Kattupalli & Ennore combined (+51 per cent).

When it comes to the west coast, the volumes driven by Mundra (8 per cent), Dahej (65 per cent), Tuna (19 per cent), and Goa (22 per cent), increased 10 per cent.

Separately, the company signed a Non-Disclosure Agreement (NDA) to access data on ULIP. ULIP or Unified Logistics Interface Platform, launched by Prime Minister Narendra Modi, as part of the National Logistics Policy (NLP) on September 17, is an initiative in the logistics sector that aims to bring ease of doing business in the logistics sector by simplifying the logistics processes, improving its efficiency, bringing in transparency and visibility, and reducing logistics cost & time.

Apart from APSEZ, 13 organisations, including MapMyIndia, CargoExchange, Freight Fox, Conmove, Intugine, Eikonatech, Yes Bank, Superprocure, CargoShakti, CloudStrats, Shyplite, and AITWA signed the NDA, while 11 more organisations like Instavans & Trucks, Bosch India, Portlinks, Shiprocket, are in the process.

Also read: Adani Enterprises achieves financial closure for 6-lane Ganga Expressway project

Published on: Oct 03, 2022, 10:12 AM IST
Posted by: anwesha madhukalya, Oct 03, 2022, 10:00 AM IST