Essar Ports cargo handling up 35% in Q2

24 October 2016

Essar Ports Ltd has logged 35 per cent growth in its total cargo handling for the quarter ended September 30. Its cargo volume rose from 13.55 million tonne (mt) to 18.27 mt. Third party cargo handling zoomed 106 per cent from 0.5 mt to 1.03 mt in the period.

In the July-September quarter, the various terminals of the company handled 209 ships as against 179 ships in the corresponding period last year. The robust performance in the quarter has been driven by significant operational improvements and better cargo support from anchor customers.

Rajiv Agarwal, managing director of Essar Ports, said, “our performance is a reflection of the efficient operations at all our ports and faster vessel turnaround times. We are gradually enhancing our capacity utilization, which is backed by the improved operational performance of our anchor customers. This year, our assets are not only demonstrating enhanced operational parameters like the berthing of bigger ships but also showing their technical prowess by undertaking project execution that is synchronised with our operations.”

In the April-September period, total cargo handled by Essar Ports rose 33 per cent from 26.54 mt to 35.37 mt. The third-party cargo handling in this period is up by 230 per cent at 1.98 mt, compared to 0.6 mt in the corresponding period last year.

Essar Ports is one of the largest port companies of India, with a current capacity of 140 million tonne per annum (mtpa). The capacity is being expanded to 194 mtpa over the next few years. Essar Ports has five operational port terminals at Hazira, Vadinar, Paradip, Salaya and Visakhapatnam. The company is expanding its Hazira port capacity by 20 mtpa, which will take the capacity to 50 mtpa. The company is also undertaking capacity addition of iron ore berths at Visakhapatnam port with a total capacity of 16 mtpa. Additionally, the company plans to develop a coal terminal at Paradip of 18 mtpa capacity.

Source – BS