APSEZ records 9% Y-o-Y growth, largest port cargo volumes ever

Mundra continues to be India’s largest seaport with 155 MMT of total cargo handled during the year.

Ahmedabad based Adani Ports and Special Economic Zone Ltd (APSEZ), the largest integrated transport utility in India and a part of the diversified Adani Group, handled 32 MMT of total cargo in March 2023, implying a Y-o-Y growth of 9.5 per cent. For the first time since July 2022, the volumes crossed the 30-MMT mark. With 339 MMT in FY23 (April 2022 – March 2023), APSEZ recorded its largest port cargo volumes ever – which is a good 9 per cent Y-o-Y growth. Adani Ports has been continuously increasing its market share for the past years, outperforming all of India’s cargo volume growth.

APSEZ consistently works on cargo diversification at all its ports. This year, Krishnapatnam Port successfully added soybeans, edible oil and sugar to its cargo portfolio while Dighi Port handled sugar, for the first time and Dhamra its first rice vessel for export to Bangladesh.

“The improvement in cargo volumes is testimony to the faith that our customers have in us,” said Karan Adani, CEO and Whole Time Director, APSEZ. “It shows our commitment to using improved efficiencies and technological integrations to drive and achieve customer satisfaction. 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.”

The overall container volumes handled by APSEZ in India jumped to 8.6 MTUs (+5% YoY), including 6.6 MTEUs at Mundra alone. It continues to be India’s largest seaport with 155 MMT of total cargo handled during the year.

Increase in cargo volume at ports reflects country’s economic prosperity. Almost 95 per cent of the trade volumes in India are carried through maritime transport. So, having world-class mega ports is imperative for the Indian coastline. APSEZ has strategically built a string of ports across the Indian coastline along with ICDs (inland container depots) and warehouses, woven intricately with self-owned rakes, covering around 90% of the country’s hinterland.

The capability to maintain deep draft ports enables APSEZ’s customers bring larger vessel parcels, thereby lowering their overall logistics cost. The lower logistics costs allow businesses to export goods, boosting domestic economy and raising the employment rate in the process. 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.

Mundra continues to be India’s largest seaport