Adani Ports handled 35.65 MMT cargo in Dec ’23

Chennai: The Adani Ports and Special Economic Zone Ltd (APSEZ) closed December 2023 by handling 35.65 MMT of cargo volumes, resulting in a strong 42 per cent year-on-year (YoY) increase.

Dry bulk cargo handling was up 63 per cent, while handling of containers increased by over 28 per cent on a YoY basis.

For the quarter ended December, APSEZ handled around 109 MMT of overall cargo, with around 106 MMT contributed by its domestic ports portfolio.

In the initial nine months of FY24, APSEZ managed around 311 MMT of cargo, which is a healthy 23 per cent YoY growth, the company said.

“APSEZ crossed the 300 MMT cargo-mark in just 266 days versus its previous best of 329 days in the previous financial year. This milestone only proves that our strategy of driving operational efficiencies to achieve industry leading growth is yielding the desired results.

"We are now targeting over 400 MMT of cargo volumes in FY24, surpassing the upper end of the guidance range (370-390 MMT) provided at the start of the current financial year,” said Karan Adani, CEO and Whole-Time Director, APSEZ.