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Mundra and Pipavav ports have seen robust traffic growth in the April-June quarter, reported The Hindu.
Despite India's foreign trade dipping during the period, the key ports, operated by listed companies Adani Port SEZ and Gujarat Pipavav Port, moved more cargo.
Cargo throughput at the Adani-owned Mundra Port grew by over nine percent, with the port handling 16.3 million tonnes of bulk cargo during the period, according to the latest Gujarat Maritime Board data. Coal, crude oil and high-speed diesel imports formed the top sources of revenue for the port.
Pipavav also registered an impressive 18 per cent growth in container traffic, handling 0.32 million TEUs despite the exclusive agreement with shipping line Maersk ending in March.
Since April, two new services have been added — one each from Maersk and Hapag-Lloyd. Another listed company, Essar Ports, too saw a 13 per cent growth in cargo during the period — handling 12.65 million tonnes. The company — which gets 96 per cent of its revenues by handling cargo for other Essar Group firms —registered an 18 per cent growth in earnings and 23 per cent growth in operating profit during the quarter.
Cargonews Asia
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