New exclusive data collected by Container News indicates a sequential slide in container volumes handled by the Adani Group-operated terminals at Mundra Port.
Combined “Adani Mundra” volumes in October dipped to 431,334 TEUs, from 444,986 TEUs in September and 457,334 TEUs in August.
The four terminals under Adani’s belt are Adani Mundra Container Terminal (AMCT), Adani CMA Mundra Terminal (ACMTPL) — a joint venture with CMA CGM Group, Adani International Container Terminal (AICTPL) — a partnership with Mediterranean Shipping Company (MSC), and recently commissioned AMCT T2.
In addition, the port includes a DP World concession, named Mundra International Container Terminal (MICT).
Total Mundra throughput last month stood at 524,242 TEUs, relatively flat with the September figure of 522,483 TEUs, CN data shows.
Transshipment loads – a major contributor to Adani’s market share growth in recent years – appear to have lost some momentum, according to the analysis. The group saw 123,219 TEUs of transshipment movement in October, versus 135,683 TEUs in September.
Industry sources believe the sequential slide is a sign of ongoing demand pressure that carriers are battling.
At the same time, the group in a recent statement sounded upbeat about its growth in the first half of the fiscal year 2022-23.
“Mundra continues to be the largest container handling port with 3.28 million TEUs, versus 2.96 million TEUs managed by JNPT (Nhava Sheva) during the first half of the year,” pointed out APSEZ, adding that “The non-Mundra ports volumes grew at 14% y-o-y while Mundra growth rate was 7.5%; the non-Mundra ports contributed 54% to the cargo basket.”
Adani Ports and Special Economic Zone (APSEZ) also highlighted its record of overall cargo handling performance in the first half.
“H1 FY23 is a record half-year in APSEZ’s history, with the highest ever cargo volume, revenue and EBITDA [earnings before interest, depreciation, taxes and amortization]. Extending this strong performance into October, APSEZ achieved 200 MMT of cargo throughput within seven months, another new milestone,” said APSEZ CEO, Karan Adani.
He went on to add, “APSEZ remains committed to its philosophy of ensuring sustainable growth in partnership with our key stakeholders. We are on track to achieve our full-year guidance of 350-360 MMT cargo volumes.”
Jenny Daniel
Global Correspondent
Contact email: [email protected]
