Essar Ports Posts 20% Cargo Growth
Essar Ports, India's second-largest, private-sector port and terminal company by capacity and throughput, posted a record 20 per cent cargo growth in April-September period of the ongoing financial year (ending March 31, 2020) with a throughput of 27.29 MT.The Essar Group company, h operates four terminals on the east and west coasts of India, said in a press note that 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%.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.
Essar Ports Posts Robust Growth
Indian private ports operator, Essar Ports Limited posted overall 17 percent growth in the cargo throughput at 13.5 million tonne for the first quarter of current fiscal ended 30 June 2019 as against 11.5 MT in the corresponding quarter last year."Higher capacity utilization at its recently commissioned terminals at Salaya and Vizag, and an increase in third-party cargo, were the two key factors that will help the Company achieve its target of handling 60 million tonnes of cargo by 31 March 2020," the Essar Group company said.Essar Ports' first quarter cargo handling performance has been very strong and brought it closer to achieving…
Hazira Terminal Grows 22% in Q1 of 2019-20
Essar Bulk Terminal Ltd (EBTL), that operates the 50 million tonne per annum (MTPA) bulk terminal in Hazira, Gujarat, India said a 22 per cent growth in its third-party business during the first quarter ended 30 June 2019, on a year- on-year basis.The Company achieved an overall cargo throughput of 7 MT (million tonnes) in Q1 FY2019-20, of which 1.1 MT was third-party cargo. The share of third-party cargo in overall cargo volumes also rose to 15.7%.According to the port operator, there is a significant upswing in the region’s economic activity and the Hazira terminal is well placed to capitalize on the opportunity. The focus on operational…
Essar Ports Ventures Overseas with Mozambique
India's Essar Ports has signed a 30-year concession agreement with the Government of Mozambique to develop a new coal terminal at Beira Port, as part of a Public Private Partnership (PPP) project. The project will be executed on Design, Build, Own, Operate and Transfer (DBOOT) basis through a subsidiary, New Coal Terminal Beira, SA (NCTB SA), which is a joint venture of Essar (which will own 70) and Portos e Caminhos de Ferro de Moçambique (CFM, which will own 30%). The project will enhance the coal handling capacity of Mozambique by 20 MTPA in two phases of 10 MTPA each. Mozambique is estimated to have reserves of over 23 billion tonnes of coal…
Bulk Carrier Runs Aground
Mozambique: The Cyprus-registered bulk carrier Artemis SB, fully loaded with granite, ran aground at Beira port, Mozambique, on Sunday, May 7, Reuters reported. The 40,846 dwt vessel can only be refloated with the aid of a dredger, which is expected to arrive from Durban by May 17.
