The Paradip Port Authority (PPA) has achieved a remarkable feat, catapulting itself to the top spot among Indian Major Ports in cargo throughput during the fiscal year 2023-24. Let’s delve into the details of this historic achievement.
Breaking Records
For the first time in its 56-year history of operation, Paradip Port surpassed the previous records set by Deendayal Port, Kandla. Clocking an incredible 145.38 million metric tonnes (MMT) of cargo throughput, Paradip Port emerged as the highest cargo handling major port in the country.
Key Highlights
- Coastal Shipping Traffic: Paradip Port achieved its highest-ever coastal shipping traffic, handling 59.19 million metric tonnes. This represents a growth of 1.30% over the previous year.
- Thermal Coal Coastal Shipping: The port handled 43.97 million metric tonnes of thermal coal via coastal shipping, marking a 4.02% increase from the previous year.
- Berth Productivity: Paradip Port improved its berth productivity, reaching 33,014 metric tonnes compared to 31,050 metric tonnes in the previous financial year—a growth of 6.33%.
- Rake Handling: The port handled 21,665 rakes, reflecting a 7.65% increase over the previous financial year.
- Ship Handling: Paradip Port managed 2,710 ships, registering a significant 13.82% rise from the previous year.
System Improvements
Several system improvement measures contributed to this outstanding performance:
- Mechanized Coal Handling Plant (MCHP): Enhanced operational systems reduced idle time between rake unloading, resulting in the highest handling of thermal coal at MCHP—27.12 million metric tonnes.
- Northern Dock Expansion: The northern dock now handles 16-meter draught cape vessels, enhancing the port’s capacity.
- Simultaneous Handling: Paradip Port achieved simultaneous handling of 1 Cape vessel and 1 Panamax at coal handling berths, a feat not accomplished in the previous year.
Financial Milestones
- Operating Revenue: Paradip Port’s operating revenue crossed Rs. 2,300 crores, a 14.30% increase compared to the previous fiscal.
- Operating Surplus: The operating surplus reached Rs. 1,510 crores, growing by 16.44% from the previous year.
- Net Surplus Before Tax: Paradip Port’s net surplus before tax stood at Rs. 1,570 crores, exhibiting a robust 21.26% growth.
- Net Surplus After Tax: The net surplus after tax surged to Rs. 1,020 crores, a remarkable 20% increase.
- Operating Ratio: The operating ratio improved to 36%, demonstrating efficient financial management.
Future Prospects
With a rated capacity of 289 million metric tonnes, Paradip Port is poised to cross the 300 million metric tonnes capacity mark within the next three years, thanks to the upcoming Western Dock project.
In summary, Paradip Port’s unwavering commitment to excellence, strategic improvements, and financial prudence have secured its position as India’s cargo handling champion in FY 2023-24. Let’s celebrate this milestone and look forward to even greater achievements! 🚢🏆🌟
Paradip Port has frozen its tariff for cargo handling at the 2022 level for the next three years, making it the most cost-effective port in the country.