Adani Ports and SEZ sets another record for cargo volumes in April 2022

Market Times - market news
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Adani Ports and Special Economic Zone Limited (“APSEZ”) has announced the operational performance for April 2022 as under:

April 2022 – another record month on cargo volumes

1. APSEZ ports handled a cargo volume of 28.64 MMT in April ’22 vs. 24.46 MMT in April ’21, implying a y-o-y growth of 17%.

2. The coal volumes bounced back and registered a 23% y-o-y growth.

3. The agriculture cargo and fertilizer handling at our ports has seen a 350% increase y-o-y. Last month, the Government of India also announced that the country is likely to see a record wheat export this financial year.

4. China’s decision to cap its steel production has provided a boost to India’s steel industry, which is reflected in a 35% y-o-y jump in coking coal volume at our ports.

5. Overall, April is the second consecutive month, with cargo volumes crossing a record level of 28 MMT.