Cochin Port makes a Turn around in FY 2018

Posted by Daily Shipping Times on 09-04-2018        Tweet

KOCHI: After 10 years, the Cochin Port Trust has reasons to cheer as it notched up a net profit of `4 crore in 2017-18.

On the cargo front also it achieved an all-time high throughput of 29.14 million tonnes for FY18, surpassing the target fixed by the Shipping Ministry, by posting 16.51 per cent growth. The cargo growth rate is the highest among all Major Ports, said P Raveendran, CPT Chairman.

Rise in cargo

Raveendran cited the rise in cargo throughput in POL products following the expansion of the BPCL-Kochi Refinery, a 13 per cent growth in container traffic at the Vallarpadam ICTT, increased capacity utilisation at the LNG terminal, and the growth in operating income as the reasons for the good show. “Besides, we have taken measures to cut the operating cost,” he said.

The port is looking at the Coastal Shipping mode in a big way after handling steel cargo of Rastriya Ispat Nigam Ltd, Visakhapatnam, in October. Discussions are on with Steel Authority of India for cargo movement to the hinterland in a similar way as well as with the Food Corporation of India for the movement of wheat from Punjab via Multi-Modal Transportation. The FCI is currently using the facility at Kochi to bring rice in containers from Andhra Pradesh, he said.

The introduction of incentive/penalty scheme under Berthing Policy of the government has helped achieve higher productivity in handling POL and cement.

Transshipment cargo

To a query, Deputy Chairman AV Ramana said the transshipment cargo at Vallarpadam was only six per cent of the total 5.5 lakh TEUs handled in FY18. The rise in the transhipment traffic depends on the way the shipping lines look at it.