Adani Ports & Special Economic Zone announced that in month of May 2024, the company handled ~35.8 MMT of cargo volumes, which is almost flat YoY. Due to shutdown of the Gangavaram Port, APSEZ lost around 6 MMT of cargo volumes in April & May’24.
The company said, “However, with the operations now restarted, we are confident of recovering these lost volumes in the coming months.”
The company’s flagship port Mundra recorded a key milestone of handling 17.6 MMT of cargo in May’24, which is the highest ever monthly volume at any of the Indian ports. The port also achieved another milestone of handling over 7 Lac TEUs in a month.
Despite the closure of Gangavaram port, during the initial two months of FY25, APSEZ handled 72 MMT of cargo, implying 5% YoY growth. This increase is primarily driven by containers (+11% YoY) and liquids & gas (+13%).