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Last Updated : Jul 07, 2020 01:13 PM IST | Source: Moneycontrol.com

Gujarat Pipavav Port handled over 622 container trains during lockdown, stock up 13%

During lockdown, company handled 293 trains in April 2020 alone, the highest number of trains ever handled at the port in a single month.

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Shares of Gujarat Pipavav Port gained 13 percent intraday on July 7 after company remained operational during lockdown period.

"APM Terminals Pipavav successfully handled more than 622 container trains. The port handled 1,86,000 TEUs and out of which 1,10,000 TEUs were transported by trains," said the company in its statement.

The stock was quoting at Rs 84.75, up 7.14 percent on the BSE at 11:48 hours IST. It has rallied more than 80 percent from its March 25's lows.

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"APM Terminals Pipavav, being engaged in providing essential services, has remained operational even during the strict nationwide lockdown that came into effect on March 24," Gujarat Pipavav said.

"The port also handled dry bulk shipments of 0.41 million MT and 0.21 million MT liquid from April to June 2020 without any delay. The port created additional yard space and worked with extended logistics partners to ensure smooth flow of goods and addressed many emergent supply chains needs from the customers," it added.

During this period, company handled 293 trains in April 2020 alone, the highest number of trains ever handled at the port in a single month.

"The smooth operations would not have been possible without the support from external stakeholders such as Customs, Railways, container train operators, transporters & container freight stations," Jakob Friis Sorenson, Managing Director said.

APM Terminals Pipavav is the gateway port for containers, Ro/Ro (passenger cars), liquid bulk and dry bulk cargoes serving customers in Gujarat with road and rail networks to hinterland and northwest. Its current annual cargo handling capacity includes 1.35 million TEU containers, 2,50,000 passenger cars, 2 million metric tons of liquid bulk and 4 million metric tons of dry bulk.
First Published on Jul 7, 2020 01:13 pm
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