Adani Ports and Special Economic Zone Limited (APSEZ) on Wednesday said that it has recorded bumper cargo volumes of 34 MMT (including around 1 MMT at its Haifa Port), during July 2023. This showcased a jump of 7 per cent year-on-year. “Growth observed across most ports, with containers (+23 per cent) and liquids & gas (+27 per cent) driving these volumes increase,” the company said in a regulatory filing.
APSEZ said that it has handled 135.4 MMT of total cargo, implying a strong 11 per cent YoY growth during the initial four months of FY24. Logistics volume continued to record a significant jump with YTD rail volumes of 178,689 TEUs (+20 per cent YoY) and GPWIS volumes of 5.77 MMT (+39 per cent).
Adani Ports has six ports and terminals on the west coast — Mundra, Dahej, Tuna, and Hazira in Gujarat; Mormugao in Goa; and Dighi in Maharashtra. It operates five ports and terminals on the east coast — Dhamra in Odisha; Gangavaram, and Krishnapatnam in Andhra Pradesh; and Kattupalli and Ennore in Tamil Nadu.
Earlier last month, Adani Ports had recorded cargo volume of 101.4 million metric tonnes (MMT) in the three months ended June 2023, showing a growth of 11.5 percent on-year basis. The growth was witnessed across most ports and all three broad cargo segments – container (19 percent), liquids and gas (8 percent), and dry bulk (7 percent), the company had said in another filing. In the month of June, Adani Ports handled 32.8 MMT of cargo.
Meanwhile, Adani Group is in talks to raise $1.8 billion from India bond sales. According to a Bloomberg report, the notes would likely be sold in small 5 billion to 10 billion rupee lots of listed and unlisted bonds to meet capital expenditure requirements. The plans are aimed at shoring up investor confidence after months of damage control following Hindenburg Research’s January report.