Adani Ports Q4 profit up 41%
Adani Ports and Special Economic Zone (APSEZ), India’s largest private multi-port operator, reported a 41.45 percent surge in its consolidated net profit to INR 1,314.19 crore (USD 188.4million) for the quarter ended on March 31, 2019.However, its revenue fell 3.15 percent to INR 31 billion, said a stock exchange annoucement. Its coal volumes rose 30 percent year-on-year during the quarter, while the cargo volume increased 19 percent.The company also reported a record cargo throughput of 54 million metric tonnes in the three months ended March, according to the filing.
Adani to Develop Container Port in Myanmar
India’s largest private multi-port operator Adani Ports and Special Economic Zone (APSEZ) will set up its first container terminal outside India in Myanmar at an estimated cost of US$ 290 million.Adani Group said that all requisite permissions have been received in the form of Myanmar Investment Commission permit, to build and run a container terminal along the Yangon river for 50-years.APSEZ would be the first Indian company to set up a container terminal outside India, CEO Karan Adani said.Construction for phase one of the project will commence next month and will be completed by June 2021.
Maersk Begins Port Operations at Ennore, Tamil Nadu
Maersk begins its port operations at Ennore (Kamarajar port), Tamil Nadu offering connectivity between the Far-East Asian ports of Tanjung Pelepas (Malaysia), Busan (South Korea) and Xingang (China) and the Indian ports of Chennai, Krishnapatnam & Visakhapatnam. The company also celebrated the first maiden call for its existing ‘Chennai Express’ service at the new container terminal in Ennore Port which is about 15 miles north of Chennai.“The rising global trade from and to India is leading to congestion and moving to new ports that offer quicker turnaround and better services is crucial.
Adani Ports Acquires Kattupalli Port
India's largest port developer Adani Ports and Special Economic Zone (APSEZ) has agreed to pick up 97% stake in Marine Infrastructure Developer (MIDPL) from Larsen & Toubro at an enterprise value of Rs 1,950 crore ($284 million). According to a press release from the company, Kattupalli Port is one of the most modern ports in India emerging as Chennai’s New Gateway for EXIM trade in Chennai/Bangalore region and provides a whole new dimension of services with speed and sophistication.
Kattupalli Port Throughput Soars 42%
Adani Ports & Special Economic Zone Ltd (APSEZ) said it had registered a 42 percent increase in throughput at Kattupalli port, handling 493,260 TEUs in the FY 2017-18.
Hazira Port Breaches 500K TEU Mark
Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer today said that it had breached the 0.5 Million TEU mark at Hazira Port in FY 2017-18, with year-end throughout touching 500,879 TEUs, corresponding to a remarkable growth rate of 20.7% over 2016-17. With an annual capacity of 1 million TEUs, 2 berths of combined length of 630 metres and quay-side infrastructure comprising 6 QC’s and 16RTG’s, the all-weather port with a deep draft has been able to attract main line services from the world’s largest container shipping companies.
Mundra Port, Port of Montreal Sign Cooperative Agreement
On a trade mission to India, the Montreal Port Authority (MPA) has signed a Cooperative Agreement with Mundra Port, Gujarat State, north of Mumbai. This agreement aims to develop cooperation in marketing and business development while sharing information on marine operations and industry best practices. Mundra Port is India’s largest commercial port. A diversified port, it handles liquid and dry bulk and more than three million TEUs in annual container traffic. It is operated by Adani Ports and Special Economic Zone Limited (APSEZ).
Adani Adds Two New Dredgers to Its Fleet
India’s largest private multi-port operator Adani Ports and Special Economic Zone Ltd (APSEZ) inaugurated two new 8,000m3 trailing suction hopper dredgers (TSHDs) on January 8. Both dredgers were built by Royal IHC in The Netherlands and recently arrived at Adani’s Hazira Port in Gujarat, India, after their maiden voyage through the Suez Canal. The vessels are the 11th and 12th dredgers supplied by Royal IHC to APSEZ and are among the largest in the Indian fleet of TSHDs. “[The new dredgers] will substantially increase our capacity for dredging.
CMA CGM, Adani Ports Sign Pact to Operate Mundra Port
French shipping group CMA CGM and Adani Ports and Special Economic Zone (APSEZ), India’s leading port infrastructure developer and part of the Adani Group, today signed a joint venture agreement, to operate a new container terminal (CT4) at Mundra Port, for next 15 years with an option to extend it twice for 10 more years. Rodolphe Saadé, CMA CGM’s Chief Executive Officer said: We have been present in India for over three decades now and employ 4,000 people. Speaking on this momentous occasion…
Adani Ports Organizes Trade Meet at Ambur, TN
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer today said it had organized a trade meet at Ambur, to showcase the capabilities of Katupalli Port, especially the container terminal to the stakeholders. Amongst the over 50 representatives who attended the meet, were prominent members of the south Indian leather industry including exporters, shoes manufacturers. Major shipping lines and forwarders. Officials from the Indian Footwear Manufacturers Association were also present at the event. Mr.
Adani Ports Organize Trade Meet in Rajkot
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and operator’s, container terminal, Mundra, recently organized a trade meet at Rajkot with the intent of showcasing the capabilities of Mundra Port and recent developments thereat, to their stakeholders. The event witnessed an attendance of over 140 representatives, covering the entire gamut of stakeholders in the supply chain, from major exporters of cotton, yarn, agri-products and engineering goods to shipping lines, CFS operators, Freight Forwarders and Customs House Agents. Mr.
Record Coal Handling by Mundra Port
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and operator, today accomplished a discharge record of 1,64,914 metric tons of steam coal from vessel MV Marijeannie within 24 hours. MV Marijeannie carrying 1, 67,152 metric tons of steam coal for Adani Power Limited berthed at Mundra Port’s West Basin Port on 4 May 2016 by the port’s marine team. On this Milestone Mr. Ennarasu Karunesan CEO – APSEZ Mundra & Tuna Ports said “I would like to compliment my team for setting this record in India and the stake holders for having the trust in us.
Adani Ports Profit Up
Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and part of Adani Group, has announced the financial results for the fourth quarter and year ended March 31, 2016. Consolidated cargo across all ports handled by the company was 152 MMT in FY16, an increase of 5 percent, over corresponding period last year, including 3.35 million TEUs, up 17 percent from 2.87 million TEUs last year. Consolidated cargo for Q4FY16 stood at 37 MMT thereby continuing its leadership as the single largest commercial port in India.
Adani Kandla Terminal Hits 3.5 MT Volume
Adani Kandla Bulk Terminal Pvt. Ltd. Adani Kandla Bulk Terminal Pvt. Ltd. (AKBTPL) under the concession agreement with Kandla Port Trust (KPT) has successfully over shot the MGT in its 1st year of operations itself. “We at Adani Group share our Chairman’s vision of achieving 200 Million Metric Tons cargo by 2020. This milestone will take us one more step closer to our vision” said Mr. Ennarasu Karunesan, CEO APSEZ Mundra & Tuna Ports. AKBTPL was inaugurated by Hon'ble Minister of Road Transport and Highways and Shipping…
MSC Expands India-Africa Service
Geneva-based Mediterranean Shipping Co SA has expanded the port rotation of its India-South Africa service by introducing a direct call at Hazira, a privately-operated cargo complex on India’s west coast, in an attempt to pick up additional hinterland cargo. Hazira Port, which is about 120 nautical miles north of JNPT, is operated by Adani Ports and Special Economic Zone, India’s biggest port infrastructure developer. "MSC would like to inform customers that we have strengthened…
Adani Ports Eyeing Acquisitions
India’s biggest private port operator Adani Ports and Special Economic Zone (APSEZ) is actively looking at acquisitions to complete its “string of pearls” ports strategy, reports Livemint. CEO Karan Adani is leading the drive, it adds. In India, Adani Port is looking to expand its presence in Maharashtra and West Bengal, according to the paper. In overseas markets, the company is scouting for opportunities in Sri Lanka, Bangladesh, the US and Europe, apart from the ports planned in Australia.
Supreme Court Stays Green Tribunal Order on Adani Hazira Port
Adani Hazira Port Private Limited (AHPPL), a 100% subsidiary of Adani Ports and Special Economic Zone Limited, had challenged the order dated 8.1.2016 passed by the National Green Tribunal, Pune, inter alia, cancelling the EC 3.5.2013 for expansion of facilities at Adani Hazira Port. The matter was heard by the Hon'ble Supreme Court today and the Court has stated that the port operations can continue as usual. Therefore, there is no impact on port operations. EC dated 3.5.2013 permitted construction of liquid cargo storage which is already completed.
India Fosters Growth in its Maritime Sector
The Indian government’s has been going all out to put the growth of the Indian maritime Industry on a fast track by opening up a host of opportunities, offering goodies and putting in place new facilities. Setting the tone for his keynote address at the 9th Biennial International Conference on Ports, Shipping & Logistics organized by the Bombay Chamber of Commerce & Industry at the Taj Mahal Hotel, Mumbai, Nitin Gadkari, Union Ministry of Road Transport, Highways and Shipping…
Adani Ports to Expand Terminal with MSC
Adani Group turns its flagship port and India’s biggest commercial port at Mundra in Gujarat into a regional transhipment hub by partnering with Terminal Investment Ltd SA, the container terminal operating company majority owned by Geneva-based Mediterranean Shipping Co. SA (MSC), the world’s second biggest container shipping line. Adani Ports & SEZ Ltd (APSEZL), part of the Adani Group, said it will expand its existing terminal International Container Terminal Private Limited (AICTPL) at Mundra port to develop it into a transshipment hub.
Dredging Opportunities in Indian Waters
The Dredging Conference organized by Hinode in Kolkata on Thursday, January 21, 2016 will spotlight the vast opportunities that exists for dredging companies and other allied agencies in Inland Waters waters. The event is set to take place at the Park Hotel, 17 Park Street, Kolkata 700016. Kolkata occupies a special place as a major Riverine Port and Inland Waterways hub and the mouth of the Ganges River. Being an exclusive program and considering Indian Government plans now underway for interlinking rivers…
CMA CGM - Adani Mundra Terminal Gets New Cranes
The first set of seven new Terminal Equipment which includes 4 QUAY and 3 RTG Cranes for its new Adani CMA Mundra Terminal ( ACMT) has reached Adani Ports and Special Economic Zone. ACMT is an equal joint venture with French container line CMA CGM SA and Adani Ports and Special Economic Zone Ltd (APSEZ), India’s biggest private port operator —the fourth—at Mundra port in Gujarat. The equipment was brought in by ZPMC vessel ZHEN HUA25 its unloading took six days. The four RMQC…
Adani Mulls Necklace of Ports in India
The $10-billion Adani Group is stringing together a Sagar Mala or necklace of ports dotting India's coastline, said Karan Adani, reports ET. The group is keen to complete its own 'Sagarmala' (Necklace Ocean) dream by having presence in the three key states of Maharashtra, Karnataka and Andhra Pradesh, apart from setting up trans-shipment terminals in Southeast Asia and East Africa. “We are also keen to have trans-shipment terminals in Southeast Asia, especially in Myanmar and Bangladesh…
Adani Ports, L&T Ink Pact for Kattupalli Port Operations
Adani Ports has entered into a non-binding Memorandum of Understanding with L&T Shipbuilding Limited (L&T) for evaluating the operations of the port at Kattupalli, Tamil Nadu, with effect from October 1, 2015 for a period of one month. The development comes amid reports that Gautam Adani-led Adani group is likely to take over the operational and management control of L&T Kattupalli International Container Terminal near Chennai to strengthen its presence on the east coast. The definitive agreements would be entered into later.
Adani in Pact with Kerala for Vizhinjam Port
The government of Kerala State in India and Gujarat-based Adani Group has signed the work contract agreement for development of the Rs 7,525-crore ($12 billion) Vizhinjam International Deepwater Multipurpose Seaport. On July 15, 2105, Adani Ports and Special Economic Zone (APSEZ) had received 'Letter of Award' from Fisheries & Ports (E) Department, government of Kerala, for development and operation/maintenance of the Vizhinjam International Deepwater Seaport Project on public-private partnership mode on Design, Build, and Finance Operate & Transfer (DBFOT) basis.
APSEZ, NCML Ink Management & Services Deal
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and a part of Adani Group, a global integrated player, entered into a strategic partnership with National Collateral Management Services Limited (NCML), a major Agri-infrastructure player, for collateral management and warehousing services. The objective of these services will be to assist industries, traders, Importers and exporters in financing their capital requirements at all stages of the supply chain, ranging from Post harvest storage to export or Import stages. Mr.
Adani Ports Consolidated PAT for Q1FY16 Up 13%
Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter ended June 30, 2015. Consolidated cargo across all ports handled by the company was 40 MMT in Q1FY16, an increase of 17%,over corresponding quarter last year. In case of containers, the Mundra port handled 748,000 TEUs in Q1FY16 as against 681,000 TEU’s in corresponding quarter last year resulting in a 10 % growth as compared to growth of 3% aggregate growth in container volumes at all the major ports.