Adani to Develop Container Port in Myanmar
India’s largest private multi-port operator Adani Ports and Special Economic Zone (APSEZ) will set up its first container terminal outside India in Myanmar at an estimated cost of US$ 290 million.Adani Group said that all requisite permissions have been received in the form of Myanmar Investment Commission permit, to build and run a container terminal along the Yangon river for 50-years.APSEZ would be the first Indian company to set up a container terminal outside India, CEO Karan Adani said.Construction for phase one of the project will commence next month and will be completed by June 2021.
Adani Ports Acquires Kattupalli Port
India's largest port developer Adani Ports and Special Economic Zone (APSEZ) has agreed to pick up 97% stake in Marine Infrastructure Developer (MIDPL) from Larsen & Toubro at an enterprise value of Rs 1,950 crore ($284 million). According to a press release from the company, Kattupalli Port is one of the most modern ports in India emerging as Chennai’s New Gateway for EXIM trade in Chennai/Bangalore region and provides a whole new dimension of services with speed and sophistication.
Hazira Port Breaches 500K TEU Mark
Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer today said that it had breached the 0.5 Million TEU mark at Hazira Port in FY 2017-18, with year-end throughout touching 500,879 TEUs, corresponding to a remarkable growth rate of 20.7% over 2016-17. With an annual capacity of 1 million TEUs, 2 berths of combined length of 630 metres and quay-side infrastructure comprising 6 QC’s and 16RTG’s, the all-weather port with a deep draft has been able to attract main line services from the world’s largest container shipping companies.
Mundra Port, Port of Montreal Sign Cooperative Agreement
On a trade mission to India, the Montreal Port Authority (MPA) has signed a Cooperative Agreement with Mundra Port, Gujarat State, north of Mumbai. This agreement aims to develop cooperation in marketing and business development while sharing information on marine operations and industry best practices. Mundra Port is India’s largest commercial port. A diversified port, it handles liquid and dry bulk and more than three million TEUs in annual container traffic. It is operated by Adani Ports and Special Economic Zone Limited (APSEZ).
Adani Adds Two New Dredgers to Its Fleet
India’s largest private multi-port operator Adani Ports and Special Economic Zone Ltd (APSEZ) inaugurated two new 8,000m3 trailing suction hopper dredgers (TSHDs) on January 8. Both dredgers were built by Royal IHC in The Netherlands and recently arrived at Adani’s Hazira Port in Gujarat, India, after their maiden voyage through the Suez Canal. The vessels are the 11th and 12th dredgers supplied by Royal IHC to APSEZ and are among the largest in the Indian fleet of TSHDs. “[The new dredgers] will substantially increase our capacity for dredging.
Adani Ports Net Dips 14% in Q1
India's Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and the logistics arm of $12 billion Adani Group, saw a 13.65% fall in net profit at INR 710.25 crore (USD 111 million) for the first quarter ended June on account of higher tax. According to PTI report, APSEZ's consolidated revenue from operations for the quarter under review shot up 50 per cent to Rs 2,745 crore from Rs 1,827 crore in the like period year ago. Sequentially, net profit in Q1 was 39 per cent lower than Rs 1…
India Looks at Port Dependent Industries in Major Ports
India's Ministry of Shipping held a consultation meeting with various stake holders on ‘Policy for Award of Waterfront and Associated Land to Port Dependent Industries in Major Ports’ in New Delhi. The policy was approved by the Union Cabinet earlier this year and is aimed at bringing uniformity and transparency in the procedure for awarding captive facilities at ports. The meeting was attended by various stakeholders from companies such as Indian Oil Corporation Ltd, Bharat Petroleum…
Adani Ports Adds Three RMGCs in Mundra
Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer, has recently made an addition of three new Rail Mounted Gantry Cranes (RMGC), for their container rail terminal in Mundra. The RMGCs, expected to be operational by this month end, was offloaded on October 7, as part of enhancing the handling capabilities of Inland Container Depot (ICD) bound containers in Mundra port. “Mundra is the only port in India having 21st century infrastructure. Adding these new RMG cranes will be a game changer for rail container operations…
Adani Ports Organize Trade Meet in Rajkot
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and operator’s, container terminal, Mundra, recently organized a trade meet at Rajkot with the intent of showcasing the capabilities of Mundra Port and recent developments thereat, to their stakeholders. The event witnessed an attendance of over 140 representatives, covering the entire gamut of stakeholders in the supply chain, from major exporters of cotton, yarn, agri-products and engineering goods to shipping lines, CFS operators, Freight Forwarders and Customs House Agents. Mr.
Adani Ports PAT Grows by 61%
Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and the logistics arm of Adani Group, today announced another stellar operational and financial performance for the quarter and half year ended September 30, 2016. * Consolidated Operating Income registered a growth of 21 % from Rs. 1808 cr in Q2FY16 to Rs. 2183 cr in Q2 FY17. * Consolidated EBITDA increased by 23% from Rs. 1178 cr in Q2FY16 to Rs. 1451 cr in Q2FY17. * Profit after Tax grew by 61% from Rs. 678 cr in Q2FY16 to Rs. 1091 cr in Q2FY17. * EPS for Q2 FY17 was Rs.
Adani buys Australian Port Operator from Glencore
A unit of India's Adani Enterprises Ltd will buy the company that operates Australia's Abbot Point Coal Terminal from Glencore Plc for A$19.25 million dollars ($14.52 million), ending a legal wrangle over control of the port. The statement from Adani and Glencore said Adani Ports and Special Economic Zone would purchase the port operator, Abbot Point BulkCoal Pty Ltd, pending regulatory approvals. Adani Enterprises, India's biggest private sector coal trader, acquired the Abbot Point Coal Terminal port from the Queensland government in 2011, considering it a key part of its plan to ship coal from Australia to India and for other exports.
Mundra Port handles its largest Vessel
Adani Ports and Special Economic Zone Limited (Adani Ports), one of India’s largest private port developer and operator and part of Adani Group, said its Mundra Port handled the largest parcel size vessel. Adani International Container Terminals Private Limited (AICTPL) Mundra recently set a new record for having achieved the highest number of moves on a single vessel call. Surpassing another record at Adani Mundra Port, 8307 TEUs (Twenty feet equivalent) were handled from MV. MSC Fillippa in 55.5 hours with an GCR of 28.31/hour.
Adani Kattupalli Port Acquires AEO Certificatio
Adani Kattupalli Port Private Ltd (AKPPL), a subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and operator, has been certified by the Indian Customs in its Authorized Economic Operator (AEO) programme, with their AEO status being extended upto July 2020. AEO refers to a party involved in the international movement of goods, in any capacity, which has been approved by Customs. The Port of Kattupalli has successfully demonstrated their complete compliance with the stringent requirements that have to be fulfilled in order to attain the AEO status.
Adani Ports Profit Grows by 31 % in Q1 FY17
Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and the logistics arm of Adani Group, has announced operational and financial performance for the first quarter ended June 30, 2016. Consolidated total income (including other income) on a Y o Y basis increased by 11 % to Rs. 2084 cr. ($312 million). Our consolidated EBITDA margin is 64% and Ports EBITDA margin is 71%,both continue to be the best in the industry. Cargo volume handled on a consolidated basis was 42.33 MMT in Q1 FY17, an increase of 7 % Year on Year (Y o Y) .
Moody's: Challenges Ahead for Asian Port Operators
Moody's Investors Service says lackluster global growth, weak commodity prices, high capital expenditure commitments and a liner industry struggling with overcapacity is testing the resilience of Asian port operators. "While the rated port operators in Asia have scope for cost cuts and are generally supported by their dominant market position, their resilience is being tested by these challenging operating conditions," says Ray Tay, a Moody's Vice President and Senior Analyst.
Fitch Affirms Adani Ports and SEZ at ‘BBB-‘
Adani Ports and Special Economic Zone Limited (APSEZ) today informed the Stock Exchanges that Fitch Ratings, Singapore has affirmed India-based APSEZ’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘. According to Fitch, the Outlook is Stable. The agency has also affirmed APSEZ’s senior unsecured rating at ‘BBB-‘ and the ‘BBB-“ rating on its USD 650m 3.5% senior unsecured note due 2020. Mr. Karan Adani, Chief Executive Officer of APSEZ said “The rating affirmation…
Record Coal Handling by Mundra Port
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and operator, today accomplished a discharge record of 1,64,914 metric tons of steam coal from vessel MV Marijeannie within 24 hours. MV Marijeannie carrying 1, 67,152 metric tons of steam coal for Adani Power Limited berthed at Mundra Port’s West Basin Port on 4 May 2016 by the port’s marine team. On this Milestone Mr. Ennarasu Karunesan CEO – APSEZ Mundra & Tuna Ports said “I would like to compliment my team for setting this record in India and the stake holders for having the trust in us.
Adani Ports Profit Up
Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and part of Adani Group, has announced the financial results for the fourth quarter and year ended March 31, 2016. Consolidated cargo across all ports handled by the company was 152 MMT in FY16, an increase of 5 percent, over corresponding period last year, including 3.35 million TEUs, up 17 percent from 2.87 million TEUs last year. Consolidated cargo for Q4FY16 stood at 37 MMT thereby continuing its leadership as the single largest commercial port in India.
Adani Hazira Container Terminal Hits Record Volume
Adani Hazira Port Pvt. Ltd (AHPPL), a subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and operator, recorded a container throughput of 3,02,755 TEUs (Y-o-Y growth of 96% for FY 2015 -16) which is the highest throughput since the inception of the container terminal operations at the port in April 2013. “This is a remarkable achievement by the Adani Hazira Container Terminal TEAM. Our focus will be to provide operational excellence with the highest level of safety and a customer centric approach.
Adani Kandla Terminal Hits 3.5 MT Volume
Adani Kandla Bulk Terminal Pvt. Ltd. Adani Kandla Bulk Terminal Pvt. Ltd. (AKBTPL) under the concession agreement with Kandla Port Trust (KPT) has successfully over shot the MGT in its 1st year of operations itself. “We at Adani Group share our Chairman’s vision of achieving 200 Million Metric Tons cargo by 2020. This milestone will take us one more step closer to our vision” said Mr. Ennarasu Karunesan, CEO APSEZ Mundra & Tuna Ports. AKBTPL was inaugurated by Hon'ble Minister of Road Transport and Highways and Shipping…
MSC Expands India-Africa Service
Geneva-based Mediterranean Shipping Co SA has expanded the port rotation of its India-South Africa service by introducing a direct call at Hazira, a privately-operated cargo complex on India’s west coast, in an attempt to pick up additional hinterland cargo. Hazira Port, which is about 120 nautical miles north of JNPT, is operated by Adani Ports and Special Economic Zone, India’s biggest port infrastructure developer. "MSC would like to inform customers that we have strengthened…
Adani Ports Eyeing Acquisitions
India’s biggest private port operator Adani Ports and Special Economic Zone (APSEZ) is actively looking at acquisitions to complete its “string of pearls” ports strategy, reports Livemint. CEO Karan Adani is leading the drive, it adds. In India, Adani Port is looking to expand its presence in Maharashtra and West Bengal, according to the paper. In overseas markets, the company is scouting for opportunities in Sri Lanka, Bangladesh, the US and Europe, apart from the ports planned in Australia.
Adani Ports Income Up by 15%
Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter and nine months ended December 31, 2015. Consolidated total income including other income increased by 15% to Rs.5,779 crores in 9MFY16 as compared to Rs.5,006 crores in the corresponding period last year and the consolidated EBIDTA excluding other income increased by 22% to Rs.3,421 crores in the current nine months as compared to Rs.2,806 crores in corresponding period last year.