Mumbai rival APMT Pipavav Q1 profit soars 46pc to US$1.3 million

APM Terminals' Gujarat Pipavav Port, posted a 29 per cent first quarter throughput increase to 136,510 TEU, which set a record.


This resulted in a 46 per cent first quarter profit increase to INR59.8 million (US$1.3 million) against year-on-year losses of INR318 million in 2010.


Year-on-year first quarter revenue surpassed INR863 million, up from INR548 million with pretax profit rising 118 per cent to INR381 million in the same period.


New liner services continued to call at Pipavav, reported London's Containerisation International, which noted that it is much closer to India's northern manufacturing zones than its often congested rival, Mumbai's JNP terminal complex. Pipavav is also has double-stacked train service running to the Delhi area.


NYK's Hercules service and MSC's revamped ISES service which is now called IPAK deploy 6,500-TEU class ships have commenced calls at the port.
(Source:http://www.schednet.com)