Adani Ports and Special Economic Zone (APSEZ) has achieved a historic milestone by handling 300 million tonnes of cargo well ahead of the financial year end in March 2022. APSEZ has registered high levels growth since it started operations just over two decades ago and continues to outperform all-India cargo volume growth, with its market share rising rapidly.
According to Karan Adani, CEO, “This achievement underlines the ability of APSEZ to adapt to fast paced changes due to global market and geopolitical volatility and continue its journey towards sustainable growth. We are confident of reaching our goal of handling 500 million tonnes by 2025 and aim to emerge as the world’s largest private ports company by 2030.”
APSEZ has been accelerating the time taken to increase its cargo volumes. While it took 14 years to achieve 100 million tonnes annually, with five ports in its portfolio, APSEZ doubled throughput to 200 million tonnes annually, with nine ports in its portfolio, in the next five years. Now, with 12 ports in its portfolio, APSEZ’s milestone of handling 300 million tonnes annually has come about in just three years. Remarkably, the three years it took to move from 200 to 300 million tonnes a year includes the two-year period of global economic slowdown due to the pandemic.
In parallel with ramping up its business operations, APSEZ has also significantly delivered on its commitments to sustainability with energy and emission intensity reduced by around 30% from 2016 levels. Electrification of Rubber Tyred Gantry cranes (RTGs) has been undertaken, and the similar conversion of quay cranes and mobile harbour cranes is in progress, with 2023 as the target completion year.
Additionally, diesel-based Internal Transfer Vehicles (ITVs) are being replaced by electric ITVs. The first batch of 100 electric ITVs is likely to arrive in mid-2022 and the total number expected to surpass 400 in 2023. Another green port initiative is a 50% discount on port dues, pilotage and berth hire charges for ships using LNG as a fuel.