Adani Ports Achieves 8% YoY Cargo Growth in December 2024

Adani Ports and Special Economic Zone reported operational performance for December 2024. The total cargo handled in December amounted to 38.4 MMT, marking an 8% year-on-year growth, largely driven by a 22% increase in container traffic and a 7% rise in liquids and gas volumes.

Operational Performance Details

For the year-to-date period ending December 2024, APSEZ handled 332.4 MMT of total cargo, a 7% increase compared to the same period last year, the company said in a press release on the stock exchanges.

The growth was again led by containers, which saw a 19% rise, followed by a solid 8% increase in liquids and gas.

Additionally, the logistics rail volumes stood at 0.48 million TEUs, marking a 9% YoY increase. The GPWIS volumes reached 16.1 MMT, reflecting a 13% growth. This performance reflects APSEZ’s continued efforts to expand and strengthen its cargo handling capabilities.

Recent Business Development

Adani Ports ordered 8 harbour tugs worth ₹450 Crore from Cochin Shipyard. The tugs, each with a 70-tonne bollard pull capacity, are expected to be delivered between December 2026 and May 2028 and will increase APSEZ’s tug fleet to 152. This significant investment aims to boost the efficiency and safety of vessel operations across Indian ports.

The initiative aligns with APSEZ’s broader strategy to modernise India’s maritime sector with sustainable, world-class shipbuilding and contribute to the nation’s economic growth.

Share Price Performance

Adani Ports and Special Economic Zone share price traded 1.22% lower at ₹1,211.05 at 1:20 PM on the NSE. The stock opened at ₹1,234.50 higher than ₹1,226 at its previous close.

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