Paradip Port becomes numero uno among Indian Major Ports (GS Paper 3, Indian Economy)
Why in news?
- Paradip Port Authority (PPA’s) remarkable journey has reached new heights with the recent record-breaking achievement of clocking incredible 145.38 MMT cargo throughput in FY 2023-24 and thus-by nudged passed Deendayal Port, Kandla to emerge as the highest cargo handling major port of the country.
- For the first time in the 56 years history of operation, PPA has surpassed previous records, set by Deendayal Port. Paradip Port has also recorded growth of 10.02 million metric tonnes (7.4%) of traffic on YoY basis.
Increased Performance in Cargo Handling
- During the financial year the Port has achieved highest ever coastal shipping traffic of 59.19 million metric tonnes, with a growth of 0.76 million metric tonnes i.e. 1.30% over the previous year.
- The thermal coal coastal shipping has reached 43.97 million metric tonnes i.e. 4.02% 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 33014 MT from 31050 MT of previous financial year, thus registering 6.33% 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% over the previous financial year. During the financial year, the Port has handled 2710 ships, registering an increase of 13.82% over the previous financial year.
Improvement Measures
- The increased performance in cargo handling has been driven by various system improvement measures undertaken by the Port during the financial year, which are detailed as below:
- Improved system of operation at mechanized coal hand plant to reduce idle time between rake unloading has resulted in highest handling of thermal coal at MCHP i.e. 27.12 million metric tonnes.
- The northern dock of the port has been declared for handling 16 meters draught cape vessels.
- Simultaneous handling of 1 Cape and 1 Panamax at coal handling berths, which was not being done during the previous year.
- Paradip Port has frozen its tariff for cargo handling at the level of 2022 for next 3 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.
Provisional Financial results
- The Operating revenue has crossed Rs.2,300 Crores against Rs.2,074 Crores in comparison to previous fiscal, resulting an increase of 14.30%.
- The operating surplus has crossed Rs.1,510 Crores against last year of Rs.1,300 Crores with a growth of 16.44 %.
- The net surplus before tax has crossed Rs.1,570 Crores against last year Rs.1,296 Crores exhibiting growth of 21.26 %.
- Net surplus after tax has also crossed Rs.1,020 Crores against Rs.850 Crores of last year which is 20% increase.
- The operating ratio has also improved to 36% against 37% last year.
Future Endeavours
- 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 3 years with the commissioning of Western Dock project.
- The work of Western Dock project with 25 million metric tonnes capacity is in full swing by the PPP Operator i.eM/s. J.P.P.L.
- 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% of the berths as on date, plans to become 100% 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.
Way Forward
- Paradip Port is planning to improve the 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.
- As a part of its port lead industrialization initiatives, the Port has allotted 769 acres of land to various industries which will bring more than Rs.8700 crores of investment and thus attracting 50 million metric tonnes of traffic to port.
- Paradip Port, as part of its greenification, has planted 2 lakh saplings during the last year and it is expected to reach 1 million tree plantations by the year 2025.
- The Port has also planned to develop 10 MW solar power plant to power the operations of the port, totally by renewable energy. The Port is also planning to come up with green refuelling station by setting up LNG and CNG depot at the Port.
- The Port is also aiming to develop one exclusive berth for handling green ammonia/green hydrogen thus becoming the hydrogen hub port of the country.
- The Port is developing a ultramodern signal station with latest vessel traffic management information system in association with IIT, Chennai. This will improve the vessel management and marine operations substantially, apart from improving the security.
Conclusion
- Today, Paradip Port stands tall as a shining star in the Indian maritime domain, earning accolades and setting unprecedented records that underscore its unwavering commitment to excellence.
