The Adani Group company Adani Ports and Special Economic Zone Ltd. reported record cargo volumes of 34 MMT in July of this year, a 7% increase year over year (YoY).
In a statement posted on the stock exchange, APSEZ stated that most ports had seen increase, with containers accounting for over 23% and liquid and gas for over 27% of total volume in the previous month, respectively.
APSEZ handled 135.4 MMT of total cargo during the first four months of FY 2024 (April–July), representing an 11% YoY gain, according to the business.
In July, the biggest private port operator in India also recorded an increase in logistics volume, with YTD rail volumes of 178,689 twenty-foot equivalent units (TEUs), representing a YoY increase of more than 20%. In July, the firm recorded a 39% YoY increase in GPWIS volumes, reaching 5.77 MMT.
Gujarat’s Mundra port, controlled by the Adani Group, carried more than 5,300 TEUs last month.
“The average number of TEUs handled by rail at the Mundra port has crossed 5,300 in July, surpassing the pre-Cyclone Biparjoy levels of around 4,900,” it said
For around six days, the cyclone created operational disruptions and unavoidable downtime.
With over 6.6 million TEUs handled in FY23, Mundra is India’s largest port for container handling and a vital entry point to the north and centre of the nation
However, Vikram Jaisinghani, the CEO of Adani Ports’ Logistics, left the company yesterday in order to take a position outside the Adani Group. On Saturday, August 5, Sushant Kumar Mishra will take over as CEO of Logistics at Adani Ports.
However, Vikram Jaisinghani, the CEO of Adani Ports’ Logistics, left the company yesterday in order to take a position outside the Adani Group. On Saturday, August 5, Sushant Kumar Mishra will take over as CEO of Logistics at Adani Ports.
Mishra studied PGDM at IIM-Ahmedabad and Economics at Utkal University in Bhubaneshwar. With 34 years of expertise in project management, strategy, and policy creation, he is an IRTS officer from the 1985 class. The business stated in a BSE filing that he has overseen the execution of logistical infrastructure projects, including public-private partnerships.
