Adani's APSEZ Eyes Port Development in Philippines

APSEZ Manages 36.2 MMT Cargo Globally in April

Adani Ports and Special Economic Zone (APSEZ) has announced that it managed a total cargo volume of 36.2 million metric tonnes (MMT) globally in April. This substantial figure reaffirms APSEZ's position as a leading player in the ports and shipping industry, highlighting its efficient operations and strong global presence.

Despite challenges posed by the global economic environment, APSEZ has demonstrated resilience and continued to effectively manage cargo across its various facilities. The company's robust performance in April underscores its ability to adapt to changing market condit..

Adani Ports earns AAA rating

Adani Ports and Special Economic Zone (APSEZ) announced that it had attained an AAA rating from CARE Ratings. According to APSEZ, this marks the first instance of a large-sized private infrastructure developer receiving such acknowledgment.

In a statement, APSEZ mentioned that the rating was attributed mainly to its robust integrated business model, strong industry position, consistent market share growth with healthy profitability, along with high liquidity and low leverage, as stated by the agency.

For the fiscal year FY24, APSEZ reported handling a cargo volume of 419.95 MMT..

Adani Ports handles 420 mt cargo in FY24, domestic ports manage 408 mt

The port operator stated that Tycoon Gautam Adani controlled Adani Ports and Special Economic Zone (APSEZ) had ended FY24 by handling 420 million tonnes (mt) of cargo, including international ports, which represented a growth of 24 percent over the previous year.

India?s biggest private port operator mentioned that its domestic ports/terminals had contributed over 408 mt, with the flagship Mundra Port alone handling 180 mt, accounting for more than a fourth of all India cargo volumes.

It was noted that Mundra Port had handled more than 7.4 million twenty-foot equivalent units (..

Raw Material Supply to RINL from Gangavaram Port Resumes

After a hiatus of over a month, the supply of raw materials from Adani Gangavaram Port to Rashtriya Ispat Nigam Limited (RINL) has resumed. The disruption, caused by worker agitation at the port, had severely impacted RINL?s operations, which rely heavily on coking coal to manufacture steel.

RINL, based in Andhra Pradesh and one of India's top steel producers, faced significant operational challenges due to the lack of this critical raw material. The company had sought intervention from the Andhra Pradesh government to resolve the issue and ensure the resumption of coal supplies. The p..

Indian container cargo set to expand by 8% in FY25 amidst Red Sea crisis

CareEdge Ratings forecasts that Indian container cargo volume will experience an 8% growth, reaching 342 million tonnes (mt) in FY25. They also anticipate the risk of a prolonged Red Sea crisis. In a sectoral report, the agency mentions that the connection of the Dedicated Freight Corridor to Jawaharlal Nehru Port Trust (JNPT) in FY26, coupled with capacity expansions by ports, will likely propel the growth in container volumes in the medium term. According to the report, significant adverse movements in charter rates affecting cargo volumes, as well as vessel additions by shipping lines, will..