Adani Ports and Special Economic Zone (APSEZ) consolidated its presence in the Indian container port market during the 2021 fiscal year, raising its market share to 41% as its flagship hub in Mundra became India’s leading container port.
Mundra Port in the state of Gujarat handled 5.66m teus, placing it almost 1m teus ahead of Jawaharlal Nehru Port Trust (JNPT), which has long been established as the premier container hub in the country.
Across its Indian portfolio, the operator handled 7.2m teus, increasing its market share by 5%, while it drove double digit increases in port revenue and port EBITDA.
The stronger cargo volumes led to increased revenues while operational efficiencies also contributed to port EBITDA growing by 15%.
According to the company, the surge in the container growth is attributed to partnerships with top global shipping lines through joint ventures as well as the acquisition of container handling ports like Ennore and Krishnapatnam.
The majority of the growth was concentrated on India’s east coast where volumes grew by 42% compared to 3% on the west coast.
In FY21, ten new container services were added, four at Mundra and two each at Hazira, Kattupalli & Ennore, which will add 800,000 teu per annum.