Bizodisha Bureau, Bhuabenswar May 31, 2015 :

Paradip Port Trust [PPT] handled traffic of 71.5 million tons (mt) in 2014-15 as against the previous year’s traffic of 68 million ton in 2013-14 up by 4.42% year-on-year [Y-o-Y].

The traffic handled by the Port during the financial year is second highest amongst all major ports.

“The Port has achieved this feat in spite of slump in iron ore export. The Port has achieved this feat because of the confidence of our shippers. Other major commodities have taken significant stride to upset the impact of steep decline in iron ore export by 3 million ton,” a PPT spokesperson said.

In the current financial year, PPT is poised to handle 78 mt of cargo. The Port in the first two months of this fiscal as on May 30, 2015 has handled 11.66 mt of cargo as against 11.40 mt in the same period in the previous fiscal.

A communication from PPT said, some 254 ships called at PPT during this period as against 240 ships’ call in the previous year. “This is despite the fact that the cargo handling declined marginally during April 2015 by 5.28% in comparison to the previous year. During the April 2015, similar decline in trend of cargo handling was also noticed in other Major Ports which handled large volumes of dry bulk cargo”, the release from PPT said.

The Port has achieved total revenue of Rs. 1059.50 crore, operating revenue of Rs. 920.94 crore (Y-o-Y growth of 0.69%), operating surplus of Rs. 371.29 crore (Y-o-Y growth of 1.74%), surplus after tax of Rs. 261.69 crore (Y-o-Y growth of 12.26%), operating ratio of 60%, utilization of planned expenditure to the tune of 110% and Operating expenditure per ton of cargo handled to the tune of Rs. 77.40.

With a view to compete with the neighboring ports in the country, PPT has taken up a number of projects including deepening the channel and harbour to 20.0 mtr which will enhance Port’s capacity from the existing 108.50 million metric ton per annum to 270.50 million tons per annum by the year ending 2023. The deep draught facility will enable to handle cape size vessels at PPT which will be economical to the EXIM trade .

Some of the ongoing projects, projects under bidding and future projects include Construction of the 10 MMTPA Oil Jetty is under progress, which is likely to be completed by June 2015. Besides, a Letter of award (LOA) has been issued on December 30, last year in favour of United Liner Agencies Ltd. at 11.044% revenue share to the Port for construction of five MMTPA Multipurpose clean cargo container berth. The concession agreement was signed on 07/03/2015.

Besides, the long standing issue of clearing the 10 MMTPA BOT coal project site has been completed and Essar have been communicated to deposit license fees for possession of site.

An agreement has been signed on May 29 with M/s. JSW Southwest Ports Consortium at 21% revenue share to the Port for construction of 10 MMTPA BOT Iron Ore terminal.