Page 32 - ITLN May-June 2024 for Magzter

News

Adani Ports FY24 net

profit jumps 50% to CMA CGM to launch butterfly service
VGI connecting Asia, India, ME
₹8,104 crore

MA CGM announced the launch of new
Cweekly butterfly service, VGI connecting
Laem Chabang, Vung Tau and Jakarta with
the India West Coast and Middle East.
“A butterfly service that offers 2 loops, VGI
offers competitive transit times to serve the
rapid import and export growth of Southeast
Asian markets,” it reads.
Customers will be able to enjoy greater
dani Ports and Special APSEZ grew by 28 percent Y-o-Y access to the core markets of Middle East via
AEconomic Zone (APSEZ) to reach record high of ₹26,711 direct calls to Jebel Ali and Dammam, and
announced its results for the crore while EBITDA jumped 44 further info into the outports through our
quarter and twelve months percent Y-o-Y to ₹15,751 crore. feeder solutions.
ending 31 March 2024 with FY For Q4 2024, APSEZ handled VGI Loop 1: Laem Chabang - Singapore
2024 net profit increasing 50 ₹108 million tonnes of cargo - Port Klang - Nhava Sheva - Jebel Ali
percent Y-o-Y to ₹8,104 crore. (26 percent YoY growth) with - Dammam - Nhava Sheva - Port Klang -
Cargo handled by Adani Ports revenue of ₹6,897 crore (19 Vung Tau
in the financial year increased percent YoY growth), EBITDA VGI Loop 2: Vung Tau - Jakarta - Port
24 percent YoY to 420 million ₹4,029 crore (23 percent YoY Klang - Mundra - Jebel Ali - Dammam -
tonnes compared to 339 million growth) and PAT ₹2,015 core (77 Mundra
tonnes in FY 2023. Revenue of percent YoY growth).

Port of Salalah introduces multimodal alternative to Red Sea route

he Port of Salalah in Oman has launched
Tmultimodal service options that provide a viable
alternative to the time-consuming and more costly re-
routing around the Cape of Good Hope.
From the Port of Salalah, an in-transit overland
route by truck connects to Jeddah located in the safer
mid-point of the Red Sea in Saudi Arabia. The overland
route takes approximately 4-5 days. From this point the
journey can continue by container vessel through the
Suez Canal to Europe or the US East Coast reducing
the overall transit time under to current routing. A
further sea-air option provides a faster alternative for
more time sensitive cargo into and out of Europe. Upon
discharge in the Port of Salalah, cargo is transferred
in transit to either Salalah or Muscat Airports or even
Jebel Ali depending on availability of airlift capacity
and connections.
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