Business News | Paradip Port Becomes Numero Uno Among Major Indian Ports in Cargo Throughput in 2023-24
Get latest articles and stories on Business at LatestLY. Paradip Port Authority has achieved new heights with the recent record-breaking throughput of 145.38 million tonne in cargo in the just-concluded financial year 2023-24, according to a press release from Ministry of Ports, Shipping and Waterways.
New Delhi [India], April 2 (ANI): Paradip Port Authority has achieved new heights with the recent record-breaking throughput of 145.38 million tonnes in cargo in the just-concluded financial year 2023-24, according to a press release from the Ministry of Ports, Shipping and Waterways. In the process, it thus-by nudged past Deendayal Port, Kandla, to emerge as the highest cargo handling major port of the country.
For the first time in the 56-year history of operation, the port on the east coast in Odisha has surpassed previous records, set by Deendayal Port. Paradip Port has also recorded growth of 10.02 million metric tonnes (7.4 per cent) of traffic on a year-on-year basis.
During the financial year, the port has achieved the highest ever coastal shipping traffic of 59.19 million metric tonnes, with a growth of 0.76 million metric tonnes -- 1.30 per cent over the previous year.
The thermal coal coastal shipping has reached 43.97 million metric tonnes -- 4.02 per cent over the previous year cargo handling. Thus, the Paradip Port is emerging as a hub for coastal shipping in the country.
Paradip Port has been able to improve its berth productivity to 33,014 MT from 31,050 MT of previous financial year, thus registering 6.33 per cent growth. The berth productivity achieved by Paradip Port is the highest among all the ports of the country.
During the financial year, the Port has handled 21,665 numbers of rakes, registering a growth of 7.65 per cent over the previous financial year.
During the financial year, the Port has handled 2,710 ships, registering an increase of 13.82 per cent over the previous financial year.
The increased performance in cargo handling has been driven by various system improvement measures undertaken by the Port, including it has frozen its tariff for cargo handling at the level of 2022 for next three years as a part of its business development initiatives. It is to be noted that Paradip Port is the cheapest in terms of tariff among all the port of the country.
Paradip Port, with 289 million metric tonnes rated capacity port as on date, is poised to cross 300 million metric tonnes capacity mark in another three years with the commissioning of Western Dock project.
The work of Western Dock project with 25 million metric tonnes capacity is in full swing. The said project will also increase the draught of the port, enabling the port to handled fully laden cape vessels by 2026.
Paradip Port, which has mechanized 80 per cent of the berths as on date, plans to become 100 per cent mechanized by 2030 with the mechanization of existing 4 semi-mechanized berths. The Port has also planned to add another 4 berths for which requisite approval will be taken during the current financial year, itself.
Paradip Port is planning to improve connectivity by commissioning two road flyovers within its premises with a cost of Rs 150 crores to avoid surface crossing of rail and road traffic. This will enable the Port to handle road traffic seamlessly. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)