Amid slowdown Essar Ports registers robust Q1, eyes 60 MT cargo handling target

Essar Ports on Wednesday, August 21, said a combination of higher capacity utilisation at Salaya and Vizad (recently commissioned terminals) and an increase in third-party cargo will help Company achieve the target of handling 60 million tonnes of cargo by the end of this fiscal year.

For the first quarter (ended on 30 June 2019), the Company reported 17.4 per cent growth in cargo volumes across its four terminals. The combined throughput was 13.5 million tonnes, a rise of 2 million from the same period, previous year.

Essar Ports: Cargo throughput

Terminal Cargo types handled Q1FY20 (in MT) Q1FY19 (in MT) Growth (%)
Hazira Bulk cargo (iron ore, limestone, etc.) and break bulk (finished steel) 7.0 6.8 2.9
Paradip Dry bulk (Iron ore, iron ore pellets) 2.0 2.0 0
Vizag Dry bulk (iron ore, fines, etc.) 3.2 2.2 45.5
Salaya Dry bulk (thermal coal, pet coke, bauxite) 1.3 0.5 160
Overall __ 13.5 11.5 17.4

“Our business is on a record growth trajectory with all terminals operating in full swing. Significant boost in third-party business and enhanced capacity utilisation of our anchor customers has been the key driver for the growth in volumes. We have consistently surpassed the average sectorial growth rate and are confident of achieving our target by March 2020,” said Rajiv Agarwal, MD & CEO, Essar Ports Ltd.

Essar Ports is one of India’s largest private sector port and terminal developers and operators. It has invested Rs 11,000 crore in developing world-class terminals in three Indian states. Its current operations span four terminals with a combined capacity of 110 MTPA, which is roughly 5 percent of India’s port capacity. The Company is a leader in the non-containerized bulk cargo space.

Outside India, Essar’s port assets include a liquid terminal in the UK and a coal terminal which is in development stage at Mozambique’s Beira port.

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