Adani International Container Terminal becomes first terminal to handle over 3 lakh containers in a month

MUNDRA : The joint venture at Adani Ports and SEZ in Mundra, Adani International Container Terminal Private Limited (AICTPL), has become the first terminal in India to handle 3,00,000 containers in a month in November. The company, in a filing, called it a “remarkable accomplishment” and significant achievement for APSEZ as well as a historic event in Indian maritime history.

The terminal created a national record by handling 3,00,431 TEUs across 97 vessels in November 2023, breaking its own record of 2,98,634 TEUs in March 2021, by handling approximately 10,000 TEUs every day. TEUs or ‘twenty-foot equivalent unit’ is a measure of volume in units of twenty-foot long containers.

Adani Ports shares were last seen trading 4.45 per cent higher at Rs 864.40 today. The stock has gained nearly 5 per cent on a year-to-date (YTD) basis and 17 per cent in past six months. As of September 2023, promoters held 65.53 per cent stake in the Adani Group firm.

Moreover, two other ports of APSEZ, Dhamra and Ennore, also recorded their highest ever monthly volumes, handling 3.96 MMT and 65,658 TEUs respectively.

APSEZ, meanwhile, recorded a robust 42 per cent on-year increase in cargo volumes at 36 MMT. The company said that growth was witnessed across all three broad cargo categories, including dry bulk (over 60 per cent Y-o-Y), containers (over 26 per cent) and liquids and gas
(over 23 per cent), the company added.

Adani Ports and SEZ handled 275 MMT of cargo in the initial eight months of FY24 from April to November, a growth of 21 per cent on-year. This marks over 70 per cent of the top-end of its full-year guidance range of 370-390 MMT, the company said.

The achievement, APSEZ added, not only reinforces the company and Mundra port’s position as a leader in the maritime industry but also exemplifies its operational efficiency.