APSEZ Manages 36.2 MMT Cargo Globally in April

Adani's APSEZ Eyes Port Development in Philippines

Adani Ports and Special Economic Zone (APSEZ), a subsidiary of Adani Group, is reportedly considering a foray into port development in the Philippines. This potential venture underscores APSEZ's strategic expansion efforts beyond India's borders and its ambition to establish a global presence in the maritime industry.

The exploration of port development in the Philippines represents a significant opportunity for APSEZ to leverage its expertise and experience in port operations and management. The venture aligns with the company's vision of becoming a leading player in the global logist..

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 (..

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..

Nalanda Capital Sells Stake in Great Eastern Shipping

Nalanda Capital has divested a 1.4% stake in Great Eastern Shipping, a prominent player in the ports and shipping industry, for a total sum of Rs. 1.90 billion. This move comes amidst evolving market dynamics and reflects Nalanda Capital's strategic realignment of its investment portfolio.

The sale of shares in Great Eastern Shipping represents a calculated decision by Nalanda Capital to optimise its investment holdings and capitalise on market opportunities. The transaction, valued at Rs. 1.90 billion, underscores the investor's confidence in realising returns while maintaining flexibi..