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Sunday / May 26. 2024
HomeAgroPolicyParadip Port becomes the highest cargo handling port of the country in FY 2023-24

Paradip Port becomes the highest cargo handling port of the country in FY 2023-24

In FY 2023-24, port has achieved highest ever coastal shipping traffic of 59.19 million metric tonnes, with a growth of 0.76 million metric tonnes i.e. 1.30 per cent over the previous year.

Paradip Port Authority (PPA’s) remarkable journey has reached new heights with the recent record-breaking achievement of clocking incredible 145.38 MMT cargo throughput in FY 2023-24 and thus-by nudged passed Deendayal Port, Kandla to emerge as the highest cargo handling major port of the country. For the first time in the 56 years history of operation, PPA has surpassed previous records, set by Deendayal Port. Paradip Port has also recorded growth of 10.02 million metric tonnes (7.4 per cent) of traffic on YoY basis.

During the financial year the Port has achieved highest ever coastal shipping traffic of 59.19 million metric tonnes, with a growth of 0.76 million metric tonnes i.e. 1.30 per cent over the previous year. The thermal coal coastal shipping has reached 43.97 million metric tonnes i.e. 4.02% per cent over the previous year cargo handling. Thus, the Paradip Port is emerging as a hub for coastal shipping in the country.

Paradip Port has been able to improve its berth productivity to 33014 MT from 31050 MT of previous financial year, thus registering 6.33 per cent growth. The berth productivity achieved by Paradip Port is the highest among all the ports of the country. During the financial year, the Port has handled 21,665 numbers of rakes, registering a growth of 7.65 per cent over the previous financial year. During the financial year, the Port has handled 2710 ships, registering an increase of 13.82% over the previous financial year.

The increased performance in cargo handling has been driven by various system improvement measures undertaken by the Port during the financial year, which are detailed as below:

1. Improved system of operation at mechanized coal hand plant to reduce idle time between rake unloading has resulted in highest handling of thermal coal at MCHP i.e. 27.12 million metric tonnes.

2. The northern dock of the port has been declared for handling 16 meters draught cape vessels.

3. Simultaneous handling of 1 Cape and 1 Panamax at coal handling berths, which was not being done during the previous year.

• Paradip Port has frozen its tariff for cargo handling at the level of 2022 for next 3 years as a part of its business development initiatives. It is to be noted that Paradip Port is the cheapest in terms of tariff among all the port of the country. In terms of provisional financial results,

1. The Operating revenue has crossed Rs.2,300 Crores against Rs.2,074 Crores in comparison to previous fiscal, resulting an increase of 14.30 per cent.

2. The operating surplus has crossed Rs.1,510 Crores against last year of Rs.1,300 Crores with a growth of 16.44 per cent.

3. The net surplus before tax has crossed Rs.1,570 Crores against last year Rs.1,296 Crores exhibiting growth of 21.26 per cent.

4. Net surplus after tax has also crossed Rs.1,020 Crores against Rs.850 Crores of last year which is 20 per cent increase.

5. The operating ratio has also improved to 36 per cent against 37 per cent last year.

Paradip Port, with 289 million metric tonnes rated capacity port as on date, is poised to cross 300 million metric tonnes capacity mark in another 3 years with the commissioning of Western Dock project. The work of Western Dock project with 25 million metric tonnes capacity is in full swing by the PPP Operator i.eM/s. J.P.P.L. The said project will also increase the draught of the port, enabling the port to handled fully laden cape vessels by 2026.

Paradip Port, which has mechanized 80 per cent of the berths as on date, plans to become 100 per cent mechanized by 2030 with the mechanization of existing 4 semi-mechanized berths. The Port has also planned to add another 4 berths for which requisite approval will be taken during the current financial year, itself.

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