Adani's Flagship Port Mundra Becomes India's First To Handle Cargo Volumes Of 16 MMT In A Month

Adani Ports-backed flagship, Mundra Port has set a new milestone. Mundra Port handled 16.1 MMT of cargo in October, the highest-ever volume by any port in India. Mundra is the largest port in the country with 102 MMT of cargo handled on year to date (YTD) basis, a good 9% Y-o-Y growth. The port crossed the 100 MMT mark in 210 days, surpassing the record of 231 days last year.

As per the statement, Mundra witnessed double-digit growth on a Y-o-Y basis for containers (+10%) and liquids and gas (+14%). It achieved another milestone of handling 4.2 million TEUs of containers in just 203 days, a feat achieved in 225 days in the previous financial year. It added new cargo types such as Hydrol=ysis Pi Gas (HPG) to its portfolio. On a YTD basis, it docked over 2,480 ships and serviced over 11,500 rakes.

Also, due to its strategic location, Mundra offers some of the best facilities. Given its capability to maintain deep draft, it is well-equipped to handle large vessels. In July'23, it berthed one of the largest ships ever - MV MSC Hamburg, 399 m long and 54 m wide, with a carrying capacity of 15,908 TEUs and a current reported draught of 12 m. In 2021, it berthed the 13,892 TEU APL Raffles, the largest container vessel to call at any Indian port. The Singapore-registered vessel is 397.88 m long and 51 m broad.

Furthermore, Mudra Port enjoys a strong connectivity with the hinterland, particularly to the Western Dedicated Freight Corridor (WDFC). All the major rail lines and ICDs connecting Mundra port are now capable of handling double-stack container trains.

Over the past years, the port has experienced a material improvement in the double stack co-efficient. During the period under consideration, Mundra received the first train from Garhi Harsaru ICD on the newly electrified route as well as double-stack services from ICD Dadri through WDFC. These ICDs are in addition to the already existing ICD Patli.

Adani's port flagship company, Adani Ports said, that given the cargo volume growth rate, Mundra Port is targeting 200 MMT in FY25. With 90% of India's trade by volume conducted via the maritime route, its improved infrastructure means better logistics performance and higher seaborne trade and economic growth, which is key to India becoming a $5 trillion economy.

Overall, in October 2023, Adani Ports handled 37 MMT of total cargo in October 2023, implying a Y-o-Y growth of 48%. For the first time in the company's history, the total cargo volume of our portfolio of ports in India surpassed the 35-MMT mark to touch 36 MMT, which is a good 43% Y-o-Y growth. Our Haifa Port in Israel handled over 1.1 MMT of cargo in October, marginally better than the
average cargo volume run rate of the last six months.

In the initial seven months of FY24 (April to October), Adani Ports handled 240 MMT of total cargo, which is a good 18% Y-o-Y growth. Across its ports in India, the recorded volume growth on a Y-o-Y basis is around 15%.

Adani Ports' share price will be in focus following the new record by Mundra Port. Last week, on Friday, Adani Ports' share price closed at Rs 795.45 apiece, up by 2.8% on BSE. The market cap of the company stood at Rs 1,71,828.25 crore.