Essar Ports Posts Record Cargo Growth Of 20.07 Percent In H1FY20

Essar Ports Posts Record Cargo Growth Of 20.07 Percent In H1FY20 1

An increase of 20.07% in the cargo volumes has been registered by the Essar Ports that operates four terminals on the east and the west coasts of India. In the first half of the financial year 2019-20 there was a total of 27.29 Million Tonnes.

This growth was due to the increase of 183.21% in third-party cargo when compared to the same period of previous financial year. There was a growth of 6% in cargo from captive customers.

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%.

 

H1FY20 (in MT)

H1FY19 (in MT)

Growth

 

Overall cargo

27.29

22.73

20.07%

 

Captive cargo

20.24

19.10

6.00%

 

Third-party cargo

7.05

2.49

183.21%

 

Speaking on the performance, Mr 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. Alongside this, our focus on driving operational efficiencies and minimising operating costs has helped in recording strong growth. Essar Ports has consistently surpassed the average growth rate of the sector, which is showing signs of heightened economic activity.”

Terminal-wise performance

Hazira

The 50 MTPA terminal has had the following highlights:

Cargo handling of 14.17 MT with 3.24% growth compared to the same period last year

24.46% growth in third-party business over the numbers in H1FY19

Enhanced third-party cargo share to 16.16%

H1FY20 (in MT)

H1FY19 (in MT)

Growth

 

Overall cargo

14.17

13.72

3.24%

 

Captive cargo

11.88

11.88

 

Third-party cargo

2.29

1.84

24.46%

 

Vizag

The highlights of the 24 MTPA Essar Vizag Terminal (EVTL) which is the largest iron ore handling terminal in India located on the outer harbour of Visakhapatnam Port are as follows:

Cargo handling of  5.91 MT with 52.22% overall growth compared to same period last year

7.17% growth in anchor customer business

277.76% growth in third-party business over the numbers in H1 FY19

Enhanced third-party cargo share to 41.62%

 

H1FY20 (in MT)

H1FY19 (in MT)

Growth

 

Overall cargo

5.91

3.88

52.22%

 

Captive cargo

3.45

3.22

7.17%

 

Third-party cargo

2.46

0.65

277.76%

 

Salaya

A cargo throughput of 3.22 MT has been clocked by the 20 MTPA Essar Bulk Terminal Salaya (EBTSL) which is the deepest draft facility of Saurashtra region in the first half of FY20.

 

H1FY20 (in MT)

H1FY19 (in MT)

Growth

 

Overall cargo

3.22

1.13

184.96%

 

Captive cargo

0.91

 

Third-party cargo

2.31

1.13

104.11%

 

Paradip

A cargo throughput of 4 MT has been clocked by the 16 MTPA Essar Bulk Terminal Paradip (EBTPL), in Paradip Port in the first half of FY20.

H1FY20 (in MT)

H1FY19 (in MT)

Growth

 

Overall cargo

4.0

4.0

 

Captive cargo

4.0

4.0

 

Third-party cargo

 

Reference: essarports

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