Odisha’s Paradip port sets new cargo record
Paradip: Paradip Port has achieved a new record of handling cargo throughput of 145.38 million metric tonnes (MMT) in the financial year 2023-24. This achievement has taken Paradip ahead of Deendayal Port, Kandla and made it the highest cargo-handling port in the country.
Additionally, Paradip Port has also recorded a growth of 10.02 MMT (7.4 per cent) in traffic on year-on-year basis. The port has achieved the highest ever coastal shipping traffic of 59.19 MMT, an increase of 1.30 per cent over the last year. Handling of thermal coal through coastal shipping has also seen considerable growth, reaching 43.97 MMT, an increase of 4.02 per cent over the previous year.
The port has been able to improve its berth productivity to 33,014 metric tonnes, registering a growth of 6.33 per cent. The berth productivity achieved by Paradip Port is the highest among all ports in the country. The port also handled 21,665 rakes, an increase of 7.65 per cent, and 2,710 vessels, an increase of 13.82 per cent over the previous financial year.
Various system improvement measures have contributed to increased performance in cargo handling, including increased operations at the mechanized coal-handling plant. Additionally, the announcement of the northern dock to handle 16-metre draft Cape vessels and the simultaneous handling of Cape and Panamax vessels at the coal handling berth has further optimized operations.
To boost trade growth, Paradip Port has frozen its tariffs for cargo handling at 2022 levels for the next three years, thereby maintaining its status as the most cost-effective port in the country.
Financially, the port has demonstrated impressive growth, with operating revenue crossing Rs 2,300 crore, operating surplus exceeding Rs 1,510 crore, and net surplus before tax reaching Rs 1,570 crore. Net surplus after tax has also increased by 20 percent compared to last year.
Paradip Port aims to cross the 300 MMT capacity mark within three years with the commissioning of the Western Dock project.
