The Business Bytes
Paradip, December 10, 2024 (TBB Bureau): Continuing its unparalleled streak of excellence, Paradip Port Authority (PPA), India’s leading Major Port, has once again achieved the remarkable milestone of handling 100.13 MMT of cargo throughput. This achievement marks the eighth consecutive year the port has crossed the 100 MMT mark, setting a new benchmark for operational efficiency in the current fiscal year. The milestone was reached on December 9, 2024, an impressive nine days ahead of the previous year’s record, showcasing accelerated performance amidst challenging market conditions.
In FY 2023-24, the 100 MMT milestone was reached on December 18, 2023. This year, the record was shattered in just 253 days, compared to 262 days in the last fiscal year. The achievement is the fastest century in the history of Indian Major Ports, despite market challenges such as a decline in iron ore exports and thermal coal demand.
PPA is on track to achieve an unprecedented cargo handling figure of 150 MMT in the current fiscal year, driven by strategic measures and system improvements. Outbound iron ore and pellet handling saw a growth of 2.23% compared to the previous fiscal year. Coastal thermal coal, which constitutes over 30% of the port’s total cargo volume, recorded a 3.57% growth. Containerized cargo experienced an extraordinary surge of 123.09% year-on-year, while gypsum and flux volumes increased by 26.55%. These achievements underline Paradip Port’s emergence as a key coastal shipping hub, playing a vital role in India’s maritime logistics ecosystem.
These achievements solidify Paradip Port’s position as a coastal shipping hub, playing a critical role in India’s maritime logistics network.
P.L. Haranadh, Chairman of PPA, attributed this success to the visionary guidance of Sarbananda Sonowal, Minister of Ports, Shipping & Waterways (MoPSW). He expressed his gratitude to all stakeholders, including PPA employees, user industries, stevedores, trade unions, PPP operators, and government authorities like the Ministry of Ports, Shipping & Waterways, the Government of Odisha, Indian Railways, and Customs.
“Achieving this milestone is a testament to our commitment to operational excellence and the unwavering support of our stakeholders. We are proud to set new benchmarks and contribute to the nation’s economic growth,” said Haranadh.
Nilabhra Dasgupta, Deputy Chairman, A.K. Bose, Advisor (Traffic), G. Edison, Traffic Manager, all of whom played pivotal roles in steering the port to this success.
Paradip Port’s consistent performance underscores its strategic importance in India’s maritime infrastructure. With robust growth across various cargo segments and ambitious plans for the future, PPA is set to redefine the benchmarks for operational efficiency and cargo handling capacity in the years to come.
