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Essar Ports sees solid all-round growth in latest quarter

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Dry Bulk,

Essar Ports (EPL) has registered all-round growth in the quarter ended 30 September 2016.

Total cargo handling has grown 35% to 18.27 million t, compared to 13.55 million t in the same period last year. Third-party cargo handling has risen by 106% to 1.03 million t compared to 0.5 million t.

Over the quarter, the various terminals of the company handled 209 ships, whereas in the same time last year it handled 179. According to Essar, the robust performance in the quarter has been driven by significant operational improvements and better cargo support from anchor customers.

Rajiv Agarwal, Managing Director, Essar Ports, commented: “Our performance is a reflection of the efficient operations at all our ports and faster vessel turnaround times. We are gradually enhancing our capacity utilisation, 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.”

The company’s first half of year performance for FY17 also shows operational improvements. The total cargo handled for H1 FY17 is up by 33% at 35.37 million t, compared to 26.54 million t in H1 FY16. The third-party cargo handling is up by 230% at 1.98 million t, compared to 0.6 million t in the corresponding period last year.

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