Chennai Port clocks Rs 32 crore net profit during Financial Year 2017-18

Posted by Daily Shipping Times on 11-04-2018        Tweet

CHENNAI: Chennai Port has reported a net profit of Rs 32 crore during the financial year 2017-18 against Rs 13 crore in the previous fiscal. Operating surplus was Rs 225 crore against Rs 217 crore in the previous year, a 3.82 per cent increase.

Announcing the overall performance of the port during the annual press meet on 7 April 2018, Shri P Raveendran, Chairman, Chennai Port Trust, said that the better financial performance was possible due to higher cargo volume of 51.88 million tonnes (mt) handled during the financial year ended March 31, 2018, against 50.21 mt in the previous year. It may be noted that the port had surpassed the 48.88 mt target fixed by the Shipping Ministry for 2017-18. It had handled higher cargo volume despite sluggish growth in global trade.

MATTER OF PRIDE FOR CHENNAI PORT

It is a matter of pride for Chennai Port that despite sluggish growth in global trade, the cargo volume handled at Chennai Port during the FY 2017-18 was 51.88 Million MTs (MMTs) as against 50.21 MMTs handled during the FY 2016-17. The net surplus is expected to be about Rs.32 Crores compared to Rs.13 Crores last year.

This volume is 3 Million MTs or 6% more than the target of 48.88 Million MTs (MMTs) fixed by the Ministry.  Of this 51.88 Million MTs (MMTs), container traffic accounted for 30 Million MTs (MMTs) and petroleum products accounted for 13.5 Million MTs (MMTs).

PORT HANDLED 15,49,457 TEUs IN FY 2017-18

Chennai Port handled 15,49,457 TEUs in FY 2017-18 as against 14,94,831 TEUs handled in FY 2016-17, thus registered an increase of 3.65% YoY. Chennai Port has also registered significant records in handling of cargoes like Gypsum, Raw Sugar, POL Products, Barytes, etc during the FY 2017-18.

Efficiency performance parameters like Pre-Berthing Detention, Turn Round Time and Ship Berth-day Output have improved compared to FY 2016-17.