Karan Adani, the CEO of India’s Adani Ports and Special Economic Zone (APSEZ), on Tuesday, said that the slowdown in container markets would likely be over soon, with volumes expected to improve in the coming months. According to him, the acute container shortages due to falling imports would normalize in the next two months when India returned to a balanced trade situation again.
Adani Ports recorded a 30% month-on-month and a 6% year-on-year increase in total container volumes in July as India lifted its nationwide lockdown. Adani-operated Mundra port in Gujarat reported that container volumes fell 18% year-on-year to 14.2 million metric ton in the April-June quarter. Despite the decline, Mundra Port (0.97 million TEUs) became India’s largest container-handling port during the quarter, surpassing Jawaharlal Nehru Port Trust (0.85 million TEUs).
