India: Chennai And Kamarajar Ports To Handle 100 Mt Of Cargo In FY 24

Chennai and Kamarajar Ports are looking to secure cargo handling of over 100 mt in FY24, per Sunil Paliwal, Chairman, Chennai Port Authority (or CPA) and CMD of Kamarajar Port Ltd (KPL).

Paliwal mentioned that the Kamarajar Port could secure 48 mt and the Chennai Port 52 mt in 2023. From 2022 to 2023, the total cargo handling of the two ports was 92.45 mt, with Chennai and Kamarajar ports handling, respectively, about 48.94 mt and 43.51 mt of cargo.

At a press meeting this Monday, Paliwal mentioned that the Chennai Port secured an operating income of about ₹943 crores for the FY 2022 to 2023 and a surplus of ₹150 crores, the highest in 13 years.

He stated further that Kamarajar Port crossed ₹1,000 crore mark for the first time in FY23. KPL recorded a surplus of ₹670 crores from 2022 to 2023, an increase of 24.39 % over the prior year. Besides, 2023-24 will also be the full year when Paliwal will be the chairman of these two ports.

Reportedly, Chennai Port is the third-oldest major port in the nation after Mumbai and Kolkata. The port handles all kinds of clean cargo like containers, vehicles, liquid bulk, break bulk, and heavy machinery, with the share of containerized cargo accounting for 60% while liquid bulk accounts for approximately 30%.

Cruising high

Paliwal said Chennai Port tackled 37 cruise vessels with 85,000 guests in 2022 and 2023.

From June to September, we had Cordelia Cruise vessel and again. There are expectations of cruise services from June. He added that new lines, such as MSC Cruises, are showing interest too.

Cruise itineraries are always fixed two years before. Some cruise majors are looking at Mumbai port as a zone on the western and a hub at Chennai port on the east coast.

Vehicle exports

Both ports exported approximately 3.8 lakh vehicles from 2022 to 2023.

Paliwal mentioned that Chennai Port’s car exports went up by 35% while Kamarajar Port’s export figures during the year were affected owing to the Ford plant’s closure in Chennai.

He, however, added that the Chennai Port had signed new contracts with Isuzu and Maruti while Toyota has returned in a big way.

So, they have more than covered the loss of Ford and managed to remain in the positive territory. Further, Renault Nissan Alliance renewed its deal recently with Kamarajar Port for the next five years. Paliwal said that they are the largest exporters of cars in the nation.

Reference: The Hindu Business Line, ET Infra

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Source: Maritime Shipping News