Acche din! Major boost in economy of Indian ports; registers annual growth rate of 6.79%
 Source : News Bharati English  Date : 13-Apr-2017

New Delhi, April 13: The business of Indian ports earlier gone down due to poor governance, therefore, major ports of the country was facing severe loss. But now, twelve major ports of the country registered an annual growth rate of 6.79 percent, as against 4.32 percent last year. The private ports have registered a traffic growth rate of 4 percent this year.
Kandla Port have retained top position in cargo handling it handled 105.44 Million Tonnes, registering a growth of 5.39% over last year.  However, 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%.

Interestingly, 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.

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.

Notably, 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.

In respect of the development of port infrastructure, 56 projects have been awarded a capacity of 103.52 MTPA against a target of 102 MTPA with an investment of Rs. 9490.51 crores during 2016-17. Importantly, the Major Port Authorities Bill has been introduced in the Lok Sabha in December 2016 to modernize the institutional structure of the ports to usher in professional governance in the ports.

Haldia port has achieved the first rank on sanitation parameters, based on the efforts undertaken by them to counter waste generating sources with respect to port operation, office area, township area and the response to incoming ships. Vizag port bagged the second rank in the same category. The Ministry of Shipping ranked on sanitation parameters.