India’s largest private port operator Adani Ports and Special Economic Zone has set a new record on quarterly volumes, by handling more than 101 MMT of cargo in the first quarter of the financial year 2023-24.
The market heavyweight announced on Monday that its total cargo volumes reported a strong 11.5% growth on a year-on-year basis and clocked an approximately 101.4 MMT during the April to June 2023 period.
Growth was observed across most ports, along with all the three broad cargo segments of Adani Ports, with the Container segment witnessing a 19% growth YoY, the Liquids & Gas segment growing by 7% YoY, and Dry Bulk segment showing a growth of 7% on a YoY basis in Q1 FY24.
The Adani giant informed on July 3, 2023, that the company handled approximately 32.8 MMT of cargo in the month of June 2023 alone, which included almost 1 MMT at its port in Haifa, Israel.
Further, the company’s logistics volume also continued to record a significant jump in the June quarter, with the year-to-date (YTD) rail volumes surging by 18% YoY to 131,420 TEUs, and the GPWIS volumes growing by a sharp 40% jump at 4.35 MMT.