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India's major ports register 6.79 percent growt over last year

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Staff Writer | April 14, 2017
The twelve major ports under the Ministry of Shipping handled a record 647.43 MT of traffic in 2016-17, registering an annual growth rate of 6.79 percent, as against 4.32 percent last year.
India port
Shipping   647.43 MT of traffic
With this, these ports have out- performed private ports for the second consecutive year. The private ports have registered a traffic growth rate of 4 percent this year.

The top position in cargo handling was retained by Kandla Port that handled 105.44 Million Tonnes of cargo, registering a growth of 5.39% over last year. This was followed by Paradip Port with 88.95 Million Tonnes of cargo handled, and an impressive growth rate of 16.45%.

Mumbai Port holds the third position with 63.05 Million Tonnes of cargo handled and growth rate of 3.17%.JNPT recorded highest ever handling of 4.50 million TEUs during 2016-17.

The port owned terminal, JNPCT, achieved highest ever handling of 1.53 million TEUs during the year, registering a growth rate of 7.33%.

Iron-ore traffic attained the highest growth rate of 163.67%. Other miscellaneous and general cargo grew by 18.53% and POL products by 8.16%.

In terms of Operating Surplus too, the Major Ports have shown highest ever achievement in 2016-17. JNPT net surplus has crossed Rs. 1300 crores as against Rs. 1091 crores of 2015-16.

Kandla Port posted its highest ever net surplus of Rs. 651 crores during 2016-17, an increase of 54.4% over last year’s profit of Rs 422 crores.

For the first time ever, JNPT raised Foreign Denominated Loan of US $400 million. It became the first major port to raise foreign currency loans.

Kamarajar Port Limited (Ennore) is also in the process of raising USD $100 million foreign currency loan.

This mode of financing at low interest rates and natural hedging has been followed in the Major ports for their infrastructure development for the first time.

The major ports have also recorded the highest ever capacity addition of 100.37 Million Tonnes (MT during 2016-17.

The capacity of major ports during 2015-16 was 965.36 MTPA. This crossed 1065 MTPA during 2016-17.


 

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