Karan Adani, CEO, Adani Ports said his company handled a cargo throughput of 100 MMT in the first 99 days of 2022-23 and is poised to become the world’s largest port operator by 2030. APSEZ has forecast its cargo handling volumes to grow by 60 percent in 2022-23 and 2023-24 to cater to 500 million tonnes (MT) by 2024-2025.
The company’s chief executive officer Karan Adani said that his company handled a cargo throughput of 100 MT in the first 99 days of 2022-23 and is poised to become the world’s largest port operator by 2030. The company witnessed a 12 percent on-year jump in cargo handling volumes in June 2022 at 31.88 MT. The rise in volumes was driven by a strong recovery in coal handling volumes and the rise in crude cargo, the company said.
The political and economic uncertainties in Sri Lanka and congestion at Colombo Port, that country’s biggest and busiest, have forced more ships to turn to Indian ports in the first quarter of 2022-23. Indian ports are expected to handle around 50,000 twenty-foot equivalent units (TEUs) of cargo due to diversion away from Colombo Port in April-June.
In 2020-21, Adani Ports and Special Economic Zone had come up with an ambitious plan to handle throughput volumes of 500 million tonnes by 2024-2025.
Since then the company has completed the acquisition of multiple large ports for a combined value of Rs 18,000 crore which have helped add around 120-140 million tonnes annually to the company’s total cargo handling volumes which stood at around 223 MT in 2019-20 (April-March). Adani Ports operates 14 ports and terminals located in Mundra, Dahej, Kandla and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam in Andhra Pradesh, and Kattupalli, Ennore in Tamil Nadu, Gangavaram Port and Krishnapatnam Port in Andhra Pradesh and Dighi Port in Mumbai.
