Paradip Port Authority Charts Course As India's Top Cargo Hub

The Paradip Port Authority (PPA) has become the country’s highest cargo-handling major port. The port surpassed Deendayal Port, Kandla, with a remarkable cargo throughput of 145.38 MMT in FY 2023-24. What can be considered as a historic achievement, the Paradip Port Authority exhibited a growth of 7.4  per cent on a year-on-year basis.

According to reports, coastal shipping traffic at the Paradip Port Authority (PPA) has reached an all-time high, totaling 59.19 million metric tonnes, showcasing a growth of 1.30  per cent from the previous year. Of particular note is the surge in thermal coal coastal shipping, which has soared to 43.97 million metric tonnes, marking a substantial growth of 4.02  per cent. Alongside this achievement, the port has made significant strides in enhancing berth productivity and rail handling. 

Berth productivity has increased to 33,014 metric tonnes compared to 31,050 metric tonnes in the previous fiscal year, reflecting a growth of 6.33  per cent. Moreover, the handling of rakes has seen a notable rise of 7.65  per cent, reaching a total of 21,665 numbers. Furthermore, the port has successfully managed 2,710 ships during the fiscal year, demonstrating a growth of 13.82  per cent. These improvements underscore the PPA's commitment to operational excellence and efficiency in handling maritime traffic and cargo, positioning it as a key player in India's port infrastructure landscape.

System Improvement Measures Drive Performance

Several system improvement measures implemented by the port have propelled its performance. Notable initiatives include enhanced operation systems at mechanised coal hand plants, declaration of the northern dock for handling 16 metres draught cape vessels, and simultaneous handling of cape and Panamax vessels at coal handling berths.

In terms of financial performance, the port has exhibited robust growth in the latest fiscal year. Operating revenue surged to an impressive Rs. 2,300 Crores, reflecting a substantial growth of 14.30  per cent compared to the previous fiscal year. This surge in revenue was accompanied by a commendable increase in operating surplus, which crossed Rs. 1,510 Crores, marking a growth of 16.44  per cent. 

Moreover, the net surplus before tax reached a noteworthy Rs. 1,570 Crores, exhibiting a remarkable growth of 21.26 per cent. After tax considerations, the net surplus soared to an impressive Rs. 1,020 Crores, reflecting a solid 20 per cent increase. 

Notably, the operating ratio also showed improvement, standing at 36 per cent compared to 37 per cent in the previous year, showcasing the port's efficiency and financial strength. These figures underscore the port's strong financial performance and its ability to navigate and thrive in a dynamic economic landscape.