Essar Ports posts record growth

(Posted on 28/10/19)

Essar’s Ports business, which operates four terminals on the east and west coasts of India, has registered a 20.07% growth in cargo volumes with a throughput of 27.29 Million Tonnes (MT) in the first half of FY2019-20.

The growth has been driven by a 183.21% increase in third-party cargo compared to that in the corresponding period in the previous financial year. Cargo from captive customers grew by 6%.

Speaking on the performance, Mr Rajiv Agarwal, MD & CEO, Essar Ports Ltd, said: “Significant boost in third-party business has been the key driver for our growth in overall volumes. Alongside this, our focus on driving operational efficiencies and minimising operating costs has helped in recording strong growth. Essar Ports has consistently surpassed the average growth rate of the sector, which is showing signs of heightened economic activity.”

At Hazira, the 50 MTPA terminal has had the following highlights:

?               Cargo handling of 14.17 MT with 3.24% growth compared to the same period last year

?               24.46% growth in third-party business over the numbers in H1FY19

?               Enhanced third-party cargo share to 16.16%

                H1FY20 (in MT) H1FY19 (in MT) Growth

The 24 MTPA Essar Vizag Terminal (EVTL), India’s largest iron ore handling terminal located on the outer harbour of Visakhapatnam Port, has had the following highlights:

?               Cargo handling of 5.91 MT with 52.22% overall growth compared to same period last year

?               7.17% growth in anchor customer business

?               277.76% growth in third-party business over the numbers in H1 FY19

?               Enhanced third-party cargo share to 41.62%

The 20 MTPA Essar Bulk Terminal Salaya (EBTSL), deepest draft facility of Saurashtra region, has clocked a cargo throughput of 3.22 MT in the first half of FY20.

The 16 MTPA Essar Bulk Terminal Paradip (EBTPL), in Paradip Port, has clocked a cargo throughput of 4 MT in the first half of FY20.

Essar Ports is one of India’s largest private sector port and terminal developers and operators. It has invested INR 11,000 crore in developing world-class terminals in three Indian states. Its current operations span four terminals with a combined capacity of 110 MTPA, which is roughly 5 percent of India’s port capacity. The Company is a leader in the non-containerised bulk cargo space. Having clocked a throughput of 40 MT in FY19, Essar Ports is expecting to handle over 60 MT in the current financial year.

All Essar Ports terminals are equipped with advanced cargo handling infrastructure and are well poised to double capacity in the near to medium term.

Latest News

Houston number one tonnage port in USA

The Houston Ship Channel port complex and its public and private terminals, collectively known as the... Read more

Ore imports boom at growing Gdansk

The Port of Gdansk is announcing it expects to handle more than 48million tonnes of cargo in 2020, retaining... Read more

First port to earn new UK government standard

AV Dawson’s Port of Middlesbrough is the first port in Great Britain to achieve the government... Read more

Raison takes over at HAROPA

Mandated by French Prime Minister, Jean Castex, Stéphane Raison has arrived to take up his duties... Read more

Port Milwaukee and Michels lease agreement

Port Milwaukee and Michels Corporation have formally signed a lease agreement for nearly seventeen-and... Read more

Hamilton Port designated FTZ

Canada’s Minister of Economic Development, the Honourable Mélanie Joly, has designated... Read more

HHLA resists effects of pandemic

Despite the lasting impact of the coronavirus pandemic, Hamburger Hafen und Logistik AG (HHLA) recorded... Read more

Port of Tyne unveils wood-pellet investment

The Port of Tyne, one of the UK’s leading deep-sea ports and a major employer in the region, has... Read more

Best-ever grain month for Canadian Pacific

Canadian Pacific set a new record for transporting Canadian grain and grain products in October, with... Read more

PD Ports mental health commitment

As one of the largest employers in the Tees Valley in the UK, PD Ports has long been committed to the... Read more