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Home > Businesses > Ports > Media releases

Essar Ports registers 12% Q-o-Q growth in cargo in Q1 FY17-18

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July 14, 2017 Bookmark and Share  
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  • Bulk cargo grows by 32%
  • Growth of 60% in third-party cargo

Mumbai, 14 July 2017:  Essar Ports has handled a record 19.62 million tonnes of cargo in the quarter ending 30 June 2017. This is a growth of 12% when compared to the cargo handling in the corresponding quarter of the previous fiscal.

Essar Ports registers 12% Q-o-Q growth in cargo in Q1 FY17-18

For dry and unit cargo, the performance was even more impressive, with the company recording a significant 32% growth. The substantial growth in traffic at the company’s three dry bulk ports in Hazira, Paradip and Vizag, came on the back of heightened activity and capacity utilisation of Essar Steel, which is Essar Port’s anchor customer.

The overall growth in traffic was also helped by the 60% increase in third-party cargo volumes during the quarter.

The Essar dry bulk terminal at Paradip Port surpassed past benchmarks to record 131% growth in cargo handling.

Ports

Q1 2018
(in mn tonnes)

Q1 2017
(in mn tonnes)

Growth

Hazira (dry & unit cargo)

5.48

4.36

26%

Paradip  (dry & unit cargo)

1.11

0.48

131%

Vizag  (dry & unit cargo)

2.65

2.19

21%

Vadinar (liquid cargo)

10.38

10.49

-1%

Consolidated (total cargo )

19.62

17.52

12%

Commenting on the performance, Mr Rajiv Agarwal, CEO & MD, Essar Ports, said: “FY18 has started on a promising note for Essar Ports. Handling 19.62 million tonnes of cargo in Q1 itself is an encouraging sign and we are confident of sustaining our performance and grow throughout the year.”
 
About Essar Ports
Essar Ports is one of the largest port companies of India, with a current capacity of 140 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 Hazira port is an all-weather, deep-draft port with 30 MMTPA of dry bulk and break bulk cargo handling capacity. Vadinar is also an all-weather, deep-draft port with 58 MMTPA of liquid cargo handling capacity. The Paradip dry bulk terminal is an all-weather, deep-draft port with 16 MTPA of dry bulk cargo handling capacity. The Visakhapatnam terminal is an operational berth that was taken over in May 2015 and has a capacity of 16 MTPA. The Company’s newly commissioned dry bulk terminal at Salaya has increased its capacity by a further 20 MTPA.

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.

Media contact: 

Manish Kedia, Senior Vice President - Corporate Affairs, Essar
Phone: +91 98197 30092, Email:  manish.kedia@essar.com

Ravi Muthreja, Vice President - Corporate Communication, Essar
Phone: + +91 99301 34566, Email : Ravi.Muthreja@essar.com

 
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