India’s biggest private ports operator, Adani Ports and Special Economic Zone, handled 247 million tonnes of cargo in the year ending March 2021, 11% up on the preceding 12 months. Container volumes amounted to 7.2 million TEU, a jump of 16%, which meant that the group increased its share of this key market by 5%, to 41%. Bulk cargo movements were also up, by 9%
Adani Group port revenues grew by 30% year-on-year, and profitability on an EBITDA basis was 42% higher in this period. The company estimates that its share of India’s ports market is now around 25%, a gain of 4%.
CEO Karan Adani describes the financial year as a transformational one for the company. “Some of the key decisions we have taken this year have set the foundation for the coming decade,” he added.
Adani’s Mundra Port facility has overtaken JNPT as the country’s biggest container port, handling 5.66 million TEU. Overall throughput at Mundra increased by 4% to 144 million tonnes, with container volumes rising by 18%.
Source: The Maritime Standard
