In a remarkable feat, Paradip Port Authority (PPA) has achieved an unprecedented cargo throughput of 145.38 million metric tonnes (MMT) in the fiscal year 2023-24. This milestone not only surpasses the previous records but also nudges Paradip Port ahead of Deendayal Port, Kandla, to emerge as the country's highest cargo handling major port.
The port's performance marks a significant growth of 10.02 million metric tonnes (7.4%) compared to the previous year, solidifying its position as a key player in India's maritime landscape.
Financially, the port has exhibited robust performance, with operating revenue crossing Rs. 2,300 crores, reflecting a 14.30% increase compared to the previous fiscal year. The operating surplus, net surplus before and after tax, have all shown notable growth rates, underlining the port's financial stability and growth trajectory.
A major contributor to this success has been the port's emphasis on coastal shipping, with a record-breaking traffic of 59.19 million metric tonnes, showcasing a growth of 1.30% over the preceding year.
Notably, thermal coal coastal shipping has seen a substantial increase, reaching 43.97 million metric tonnes, a growth of 4.02% from the previous year. This trend positions Paradip Port as a pivotal hub for coastal shipping within the country.
One of the pivotal factors driving this achievement has been the port's focus on operational efficiency. Improved system operations at the mechanized coal-handling plant have minimized idle time between rake unloading, resulting in the highest handling of thermal coal at MCHP, amounting to 27.12 million metric tonnes.
Additionally, strategic initiatives such as declaring the northern dock for handling 16 meters draught cape vessels and the simultaneous handling of one Cape and one Panamax vessel at coal handling berths have significantly enhanced the port's operational capacity.
Moreover, Paradip Port's commitment to cost-effectiveness is evident as it has frozen its cargo handling tariffs at 2022 levels for the next three years, maintaining its position as the most cost-efficient port among its counterparts.
Looking ahead, Paradip Port is poised to further enhance its capacity with ongoing projects such as the Western Dock project, which aims to increase capacity to 300 million metric tonnes. Additionally, plans to mechanize all berths by 2030 and develop new berths underscore the port's commitment to continuous expansion and modernization.
In line with its sustainability initiatives, the port is also focusing on greenification efforts, including the development of a 10 MW solar power plant and the establishment of a green refueling station. Furthermore, plans to develop an exclusive berth for handling green ammonia/green hydrogen highlight the port's ambition to become a hub for eco-friendly maritime activities.
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