India’s Adani Ports and Special Economic Zones (APSEZ) handled 35.65 million tonnes of cargo in December 2023, a year-on-year rise of 42%. Furthermore, during the first nine months of the 2023-2024 financial year the group handled 311 million tonnes, 23% higher than in the same period of the year before.
During the April-December 2023 period, several APSEZ ports recorded new milestones. Mundra handled 5.5 million TEU of containers in the nine months and is on track to pass 7 million TEU during FY24. Two rail mounted gantry cranes have recently been added at the terminal, helping to speed up train turnaround times.
The second largest port in the APSEZ portfolio, Krishnapatnam, berthed its largest ever vessel, a 336m long bulk carrier, in November, while a similar feat was recorded by Gangavaram port, which berthed its deepest draft vessel of 18.12 m, in December.
It has recently been confirmed that Karan Adani will become the new Managing Director of APSEZ, having previously served as CEO. This position was formerly occupied by Gautam Adani, Chairman of the Adani Group. APSEZ’s board has also approved the appointment of Ashwani Gupta, the former global Chief Operating Officer at Nissan Motors, as the new Chief Executive Officer of the company.