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Essar Ports Ltd News

22 Oct 2019

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.

22 Aug 2019

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…

24 Sep 2017

India's Essar Plans Four LNG Terminals

Ruias-owned Essar Ports Ltd is exploring the possibility of setting up four Liquefied Natural Gas (LNG) terminals in joint ventures with other companies, reported Economic Times. Rajiv Agarwal, managing director and chief executive of Essar Ports, told PTI at a company-run facility here. He said the company is looking at a cluster of small ports which will be closer to potential customers, adding that Hazira and Salaya, where it already operates ports, could be the sites where it can set up the LNG terminals. The company has interests in ports and shipping, has identified land on both the coasts and plans to come up with two terminals in the first phase and two in second phase, with capacities ranging from 2.5 million tonnes per annum (mtpa) to 5 mtpa.

08 Sep 2016

Essar’s Paradip Terminal Hits Record Throughput

Essar Bulk Terminal Paradip Ltd (EBTPL) has surpassed several of its own performance benchmarks in the first few months of the current fiscal. In the period, EBTPL achieved the highest load rate ever recorded at Paradip port. This was made possible through loading of bigger parcel sizes, faster turnaround of vessels and minimised berth stay durations. EBTPL successfully loaded more than 100,000 tonne of pellets into MV Shravan (sailed) at an average load rate of almost 4,300 tonnes per hour (TPH), which is a record. In contrast in FY2016, EBTPL had loaded 75,000 tonne in a vessel in 18 hours, achieving a load rate of nearly 4,200 TPH. Overall cargo handling by Essar Ports Ltd (EPL), which is the holding company of EBTPL, has witnessed a significant jump in the last four months.

27 Jun 2016

Essar's Terminal at Kandla Port crosses 100 mi tonne throughput

The marine terminal of Vadinar Oil Terminal Ltd (VOTL), which is part of Essar Ports Ltd, has been the best performing terminal in the Kandla Port Trust (KPT) for two consecutive years. The terminal recently received a certificate of appreciation from KPT, which crossed 100 million tonnes of cargo throughput for the first time in FY 2015-16. VOTL is an integrated oil terminal located in Vadinar, Gujarat with 58 million tonnes capacity and handles crude oil and petroleum products. The facilities consist of an offshore SPM (Single Point Mooring), two jetties, 3.12 Million KL tankages for storage, and rail and road gantries for dispatch of petroleum products.

15 Apr 2016

Essar Ports Handles Record Volume

On the back of increased production by its anchor customers, Essar Ports Limited (EPL) has registered significant growth in cargo handling over the last three months. In March 2016 alone, EPL’s four operational ports handled total cargoes of 6.25 million tonnes (MMT), which translates to a run rate of 75 million tonnes per annum (MTPA). With the recent commissioning of the 20 MMT Salaya Bulk Terminal, cargo handling will see a further boost in FY2017. The contribution of third-party traffic to overall cargo handling stands at about 10% currently. About 90% of the cargo handled at EPL’s Hazira, Vadinar, Vizag and Paradip ports is contracted with captive businesses, like Essar Steel India Ltd, Essar Oil Ltd and Essar Power Ltd.

05 Nov 2015

Essar Ports Q2 Profit up 9%

Essar Ports Limited, part of Essar, today announced its unaudited results for the quarter ended September 2015. 1.    Revenue for the quarter is Rs. 470.3 cr, an increase of 8% against Rs 435.3 cr in Q2FY’15 and an increase of 4% against Rs 452.2 cr in Q1FY’16. 2.    EBITDA for Q2FY’16 is Rs. 379.5 cr, an increase of 5% against Rs 361.4 cr in Q2FY’15 and an increase of 4% against Rs 364.9 cr in Q1FY’16. 3.    PAT for Q2FY’16 is Rs. 104.5 cr, an increase of 9% against Rs 96.1 cr in Q2FY’15 and an increase of 5% against Rs 99.1 cr in Q1FY’16. Mr. Rajiv Agarwal, Managing Director, Essar Ports Ltd.. commented, “The Company has consistently delivered results in line with expectations. We are on track for completing our capacity addition projects over the next few years.

15 May 2015

Essar Ports Profit Jumps 15%

Essar Ports Limited today announced its unaudited results for the full year and quarter ended March 2015. ·         Essar Ports takes over the Vizag Iron Ore outer harbor terminal with 2 berths on 14th May 2015. Existing operational terminal with no gestation period. Refurbishment of terminal to happen alongside operations. 1.    Revenue for FY’15 is Rs. 1,741 cr, an increase of 6% against Rs 1,637 cr in FY’14. 2.    EBITDA for FY’15 is Rs. 1,416 cr, an increase of 7% against Rs 1,327 cr in FY’14. 3.    PAT for FY’15 is Rs. 391 cr, an increase of 2% against Rs 384 cr in FY’14. 4.    Earnings Per Share for FY’15 were Rs. 1.    Revenue for the quarter is Rs. 440 cr, an increase of 1% against Rs 434 cr in Q3FY’15 and 6% increase against Rs 416 cr in Q4FY’14. 2.    EBITDA for Q4 FY’15 is Rs.

14 May 2015

Essar Ports Acquires Vizag Port's Iron Ore Complex

Essar Ports Ltd. (EPL) today announced the taking over of Vishakhapatnam Port Trust’s (VPT) Iron Ore Handling Complex on a Build-Operate-Transfer (BOT) basis, for a period of 30 years. Essar Vizag Terminals Ltd. (EVTL), a wholly owned subsidiary of EPL, will comprise three berths (two outer harbour berths and one inner harbour berth) with a combined capacity of 23 Million Tonnes per Annum (MTPA) which will be developed in two phases. “Enhancing the cargo handling capacity and mechanization of port facilities for efficient management is crucial for long term sustenance. We are very sure that Essar will develop the OHC facility with latest state-of art handling facilities and achieve higher loading rate thereby reducing the overall turn around by at least 50%”- M.T.

23 Jan 2015

Essar Ports Profits up by 5%

Essar Ports Ltd. a part of Essar, today announced its unaudited results for the quarter ended 31st December 2014. Revenue for the quarter stands at Rs. 434.3 cr, an increase of 9% over corresponding quarter in FY14. EBITDA at Rs. 359.6 cr in Q3 FY15, an increase of 11% over corresponding quarter in FY14. Commensurately, net profit for the quarter increased to Rs. 98.3 cr which is 5% higher than in the corresponding quarter of FY14. Earnings per Share for Q3 FY15 was at Rs 2.30. Mr. Rajiv Agarwal, Managing Director, Essar Ports Ltd. commented: “The Company has achieved another quarter of consistently strong performance. We are quite bullish at the moment with a few of our projects expected to start operations during this year.

15 Nov 2014

Essar Ports Q2 FY15 Net Profit Up

Essar Ports Ltd. (Essar Ports), part of the Essar, today announced its unaudited results for the quarter ended September 2014. *Revenue for the quarter increased by 1% at Rs. 435.3 crore as against Rs. 431.6 crore during previous quarter (Q1 FY15)and  increased by 7% from Rs. *EBITDA for the quarter increased by 4% to Rs. 361.4crore from Rs. 346.8 crore during the previous quarter (Q1 FY15) and increased by 9% from Rs. *Net Profit for the quarter has increased by 4% to Rs. 96.1crore from Rs. 92.2 crore during the previous quarter (Q1 FY15) and reduced by 1% from Rs. *Earnings per Share as at Q2 FY15 were at Rs 2.25. Mr. Rajiv Agarwal, Managing Director, Essar Ports Ltd.

15 May 2014

Essar Ports Net Profit up 16% to Rs. 383.7 cr for FY 13-14

Essar Ports Ltd. (Essar Ports), part of Essar and one of the largest port companies of India, today announced its audited results for the financial year 2013-13 and for quarter ended March 2014. * Net Profit for the year increased by 16% to Rs. 383.7 crore from Rs. 331.6 crore for the previous year. For Q4 FY14, the Net Profit  reduced by 1% to Rs. 90.8 crore from Rs. 92.1 crore in Q4 FY13. *  Earnings Per Share for the year was Rs 8.97 as against Rs 7.80 for previous year. Earnings Per Share for Q4 FY14 was Rs. 2.12 as against Rs. 2.15 for Q4 FY13. *  Essar Ports board recommends a dividend of 5 % (Rs. by 13% to Rs. 1637.4 crore from Rs. 1448.6 crore for the previous year. For Q4 FY14, the Revenues increased by 5% to Rs 415.5 crore from Rs 396.7 crore in Q4 FY13.

11 May 2011

Essar Shipping Ports and Logistics: New Management Structure

Mumbai: Essar Shipping Ports & Logistics Limited (ESPLL) which is a part of Essar Group today held its Committee of Directors (Demerger Committee) meeting and announced the completion of the demerger process. The committee fixed 19th May 2011 as the record date. ESPLL announced that the company has received all the approvals hence the completion of the process. The company also announced the new management structure for the two companies once they are listed on exchange. Post demerger, the present company will be split into two entities – Essar Ports Ltd and Essar Shipping Ltd.