Paradip Port In Odisha Emerges As India’s largest Major Port In Terms Of Cargo Volumes

The Paradip Port Authority (abbreviated as PPA) extraordinary journey has attained new heights with the recent path-breaking achievement of clocking 145.38 MMT cargo throughput in FY23-24.

Thus, it nudged past the Deendayal Port based in Kandla to emerge as the nation’s most significant major port for cargo handling.

In its 56 years of operation, the PPA has surpassed its earlier records set by the Deendayal Port for the first time. On the other hand, Paradip Port has recorded a growth of about 10.02 million metric tons, 7.4% of traffic year over year.

During the financial year, the port achieved the highest coastal shipping traffic of 59.19 million metric tons, with a growth of 0.76 million metric tons, or 1.30%, over the previous year.

Thermal coal coastal shipping has achieved 43.97 million metric tons, i.e., 4.02% over the past year cargo handling.

Hence, the Paradip Port is now emerging as a hub for coastal shipping. The Paradip Port has enhanced its berth productivity from 31050 MT recorded in the previous financial year to 33014 MT, registering 6.33% growth.

The berth productivity Paradip Port achieved is the highest among the nation’s ports.

In the financial year, the port handled 21,665 rakes, registering a growth of 7.65% over the previous financial year. The port also handled 2710 ships, registering an increase of 13.82% over the previous financial year.

The improved performance in cargo handling has been driven by different system modification measures embarked on by the port during the financial year, which are as follows:

1. An enhanced system of operations at a mechanized coal hand plant to lower the idle time during rake unloading has led to the highest thermal coal handling at the MCHP, i.e., 27.12 million metric tons.

2. The port’s northern dock is now declared for handling 16-meter draught cape vessels. The simultaneous handling of 1 Panamax and 1 Cape at the coal-handling berths was not done in the previous year.

Paradip Port has reportedly frozen the tariff for cargo handling at the level of 2022 for the next three years as a part of the business development strategy. It is worth pointing out that Paradip Port ranks the cheapest in terms of tariffs among the nation’s ports. In terms of provisional financial results:

1. The Operating revenue has also exceeded Rs. 2,300 Crores against Rs. 2,074 Crores compared to the last fiscal year, resulting in a growth of 14.30%.

2. The operating surplus is now over Rs.1,510 Crores against that recorded in 2023 of Rs.1,300 Crores, with an observed growth of 16.44 %.

3. The net surplus before tax exceeded Rs.1,570 Crores; in 2023, it increased by 21.26 % to Rs. 1,296 Crores.

4. The net surplus after tax is over Rs. 1,020 Crores, compared to the Rs. 850 Crores recorded last year, indicating a 20% rise.

5. Its operating ratio has improved to 36% against the 37% reported last year. Paradip Port, with about 289 million metric tons rated capacity port as of date, is anticipated to exceed the 300 million metric tons capacity mark in the next three years with the commissioning of the Western Dock project.

The Western Dock scheme, with a capacity of 25 million metric tons, is being worked on at maximum capacity by the PPP Operator, i.e., M/s. JPPL. The stated project will also boost the port’s draught, enabling the port to deal with entirely laden Cape vessels by 2026.

Paradip Port has mechanized almost 80% of the berths and intends to fully mechanize them by 2030, along with the four existing semi-mechanized berths. The port has planned on adding four additional berths, for which the requisite approval will be obtained during the current financial year.

Paradip Port intends to enhance connectivity by commissioning two road flyovers within the premises at a cost of about Rs.150 crores to prevent road and rail traffic surface crossing. This is going to encourage the port to deal with road traffic effortlessly.

• As part of the port-led industrialization initiatives, the port has reportedly allotted 769 acres of land to different industries. This is expected to secure over Rs. 8700 crores of investment and attract approximately 50 million metric tons of traffic to the port.

• Paradip Port planted almost two lakh saplings last year as part of the greenification, and it is anticipated to reach one million tree plantations by 2025. The port has also planned to develop a 10 MW solar power plant to power its operations, which is renewable energy. The port also plans to create a green refuelling station by setting up a CNG and LNG depot.

• The Port aims to develop an exclusive berth for regulating green ammonia/hydrogen, becoming the country’s hydrogen hub port.

• The Port is building an ultramodern signal station with the latest vessel traffic management information system in collaboration with IIT Chennai. This will boost vessel management and marine operations and enhance security.

Shri P.L. Haranadh, Chair, has congratulated the team comprising importers and exporters who patronize the officers, port, staff unions, PPP Operators, Shipping Agents, Stevedores, etc., whose integrated effort has resulted in such a spectacular achievement.

Today, Paradip Port is a shining star in India’s maritime domain. It has achieved accolades and set a phenomenal record that underscores its relentless dedication to excellence.

Reference: PIB, Economic Times

Paradip Port In Odisha Emerges As India’s largest Major Port In Terms Of Cargo Volumes appeared first on Marine Insight – The Maritime Industry Guide

Source: Maritime Shipping News