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Adani Ports releases statement on Haifa Port, Israel situation

Oct 9, 2023

By: BlinkX Research Team

Adani Ports releases the following Media Statement on Haifa Port, In light of the current situation in Israel, our thoughts are with the affected communities. We are actively monitoring the developments, primarily focused on Southern Israel, while Haifa port, where our operations are located, is in the North. 

Ensuring the safety of our employees remains our paramount concern, and we confirm that all our staff is secure. We have implemented comprehensive safety measures and have a robust business continuity plan in place to address any contingencies effectively. 

Haifa port constitutes a modest 3% of APSEZ’s total cargo volume. For the fiscal year (Apr 23-Mar 24), we anticipate Haifa Cargo volumes to range between 10-12 MMT, within APSEZ’s total cargo volume projection of 370-390 MMT. In the initial six months (Apr-Sep 23), APSEZ handled approximately 203 MMT of cargo, with Haifa contributing around 6 MMT. We maintain our confidence in APSEZ's operational performance amidst these circumstances.