Private ports operator, APM Terminals Pipavav looks to capitalize its strength in the Liquified Petroleum Gas (LPG) and automobile cargo for a faster growth of its port operations at Pipavav port in Gujarat.
The port operator has reported sustained growth in the container cargo volumes at 238,000 TEUs, which was recorded at 1,95,000 TEUs in first quarter of the fiscal 2018-19. The company attributed growth to new service additions of Coastal and Transshipment volumes.
Keld Pedersen, Managing Director, believes that growth in port’s operations will be driven by the rise in LPG and automobile cargo businesses. “We are very keen on seeing exports grow. Car manufacturing in India, goes hand-in-hand with our port operations. We are preferred port for many of the auto OEMs. The outlook for automobile exports is bright and we are optimistic for sustained growth in this segment,” said Pedersen.
“We have achieved a record of roughly 200,000 TEUs of container business in the last two quarters. Going forward automobile and LPG will drive the growth,” Pedersen told BusinessLine.
Read more on The Hindu BusinessLine.
