Odisha’s Paradip Port Emerges as India’s Top Cargo Handler in FY 2023-24

Bhubaneswar: Paradip Port Authority (PPA) has achieved a remarkable milestone in the fiscal year 2023-24 by surpassing Deendayal Port, Kandla, to become the country’s leading major port in cargo handling. With a record-breaking throughput of 145.38 million metric tonnes (MMT), PPA has marked its highest performance in its 56-year history, recording a 7.4% increase in traffic compared to the previous year.

Key highlights of PPA’s achievement include:
– Coastal shipping traffic reached an all-time high of 59.19 MMT, showing a growth of 1.30%.
– Thermal coal coastal shipping recorded a significant increase of 4.02% to 43.97 MMT.
– Berth productivity improved by 6.33% to 33,014 metric tonnes, the highest among all ports in the country.
– Handling of rakes increased by 7.65%, reaching 21,665, while ship handling rose by 13.82% to 2,710 ships.

These accomplishments were driven by various system improvements, such as enhancing operations at mechanized coal hand plants, allowing the handling of 16-meter draught cape vessels, and enabling simultaneous handling of one Cape and one Panamax vessel at coal handling berths.

In terms of financial performance:
– Operating revenue surged by 14.30% to exceed Rs. 2,300 crores.
– Operating surplus increased by 16.44% to Rs. 1,510 crores.
– Net surplus before tax rose by 21.26% to Rs. 1,570 crores, while net surplus after tax saw a 20% increase to Rs. 1,020 crores.
– The operating ratio improved to 36% compared to 37% in the previous year.

Looking ahead, Paradip Port aims to further expand its capacity, with plans to surpass the 300 million metric tonnes mark in the next three years through the commissioning of the Western Dock project. Additionally, the port aims to achieve 100% mechanization by 2030 and enhance connectivity with the commissioning of road flyovers within its premises, costing Rs. 150 crores.