In a remarkable feat, the Paradip Port Authority (PPA) has become the country’s highest cargo-handling major port. The port surpassed Deendayal Port, Kandla, with a remarkable cargo throughput of 145.38 MMT in FY 2023-24. What can be considered as a historic achievement, the Paradip Port Authority exhibited a growth of 7.4% on a year-on-year basis.
Coastal Shipping Traffic Hits All-Time High
During the same period, the PPA has witnessed its highest-ever coastal shipping traffic, reaching 59.19 million metric tonnes, signifying a growth of 1.30% compared to the previous year. Notably, thermal coal coastal shipping has soared to 43.97 million metric tonnes, showcasing a substantial growth of 4.02%.
Enhanced Berth Productivity and Rail Handling
The port has demonstrated remarkable improvement in berth productivity, achieving 33,014 MT compared to 31,050 MT in the previous financial year, marking a growth of 6.33%. Moreover, the handling of rakes has witnessed a significant increase of 7.65%, totaling 21,665 numbers. Additionally, the port managed 2,710 ships during the fiscal year, marking a growth of 13.82%.
System Improvement Measures Drive Performance
Several system improvement measures implemented by the port have propelled its performance. Notable initiatives include enhanced operation systems at mechanized coal hand plants, declaration of the northern dock for handling 16 meters draught cape vessels, and simultaneous handling of cape and Panamax vessels at coal handling berths.
Financial Performance Highlights:
In terms of financial performance, the port has exhibited robust growth:
- Operating revenue surged to Rs. 2,300 Crores, reflecting a growth of 14.30% compared to the previous fiscal year.
- Operating surplus crossed Rs. 1,510 Crores, marking a growth of 16.44%.
- Net surplus before tax reached Rs. 1,570 Crores, exhibiting a growth of 21.26%.
- Net surplus after tax soared to Rs. 1,020 Crores, reflecting a 20% increase.
- Operating ratio improved to 36% compared to 37% in the previous year.
- Future Expansion Plans and Sustainability Initiatives
The Paradip Port is poised for further expansion and sustainability initiatives. It aims to cross the 300 million metric tonnes capacity mark within the next three years with the commissioning of the Western Dock project. Plans are underway to mechanize all berths by 2030 and add four additional berths during the current financial year.
The port is committed to improving connectivity and greenification efforts, including the development of road flyovers and planting of one million trees by 2025. Additionally, plans are in place to develop a solar power plant, set up LNG and CNG depots, and establish an exclusive berth for handling green ammonia/green hydrogen.