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Essar Ports Closer to 60 Million Tonne Cargo Handling Target in Q1 2019

Logistic News - Published on Fri, 23 Aug 2019

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Essar Ports said that higher capacity utilisation 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. Mr Rajiv Agarwal, MD & CEO, Essar Ports Ltd, said that “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.”

The Company’s first quarter cargo handling performance has been very strong and brought it closer to achieving its target throughput by the end of the current financial year. For the quarter ended 30 June 2019, Essar Ports reported an impressive 17.4 percent growth in cargo volumes across its four terminals. The combined throughput stood at 13.5 million tonnes up from 11.5 million tonnes in the same period last year.

All Essar terminals are focused on bulk and dry bulk cargoes that are primarily used as raw material in core sector industries, like Steel and Power.

Essar Ports: Cargo throughput (terminal-wise and overall)

Terminal Cargo types handled Q1FY20 Q1FY19 Change
Hazira Bulk cargo (iron ore, limestone, etc.) and break bulk (finished steel) 7 6.8 2.9
Paradip Dry bulk (Iron ore, iron ore pellets) 2 2 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

(In million tonne)

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Posted By : Mohan Sharma on Fri, 23 Aug 2019
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