Helped by a substantial increase in cargo throughput, the Cochin Port Trust made a net surplus of ₹4 crore during 2017-18, a turnaround after 10 years. The port had reported net loss of ₹40 crore during 2015-16 and ₹27 crore during 2016-17.

Port chairman P. Raveendran told a press conference here on Thursday that the port achieved an all-time high cargo throughput of 29.14 million metric tonnes for 2017-18, an impressive growth of 16.51% over 2016-17. The cargo growth rate in Kochi is the highest amongst all the major ports in the country. Container traffic grew 13% during the period.

The port handled a traffic of 29.14 million tonnes of cargo during the last financial year against 25.01 tonnes during 2016-17. Container cargo traffic touched 5.55 lakh TEUs during the last year against 4.91 lakh TEUs in the previous year. The growth is 13%.

Total petroleum oil lubricants (POL) handling improved from 15.79 million tonnes during 2016-17 to 18.66 million tonnes during 2017-18, a growth rate of 18.17%. Kochi is also the most preferred cruise destination port in India with 42 cruise vessels calling at the port during 2017-18.

The port, exploring new business, also handled coastal steel cargo of Rastriya Ispat Nigam, Visakhapatnam with effect from October 2017. The port attracted river sand and ilmenite vessels during the current year and handled 1.33 lakh tonnes and 0.37 lakh tonnes respectively during 2017-2018.

The introduction of incentive and penalty scheme under the berthing policy of the Government of India with effect from June last year has helped achieve higher productivity in handling POL and cement.

Deal with Navy

Meanwhile, the port has signed a memorandum of understanding with the Indian Navy for utilising the Q2-Q3 berths at the Mattacherry wharf of the port for berthing naval ships. The agreement was signed in early January this year and as per the MoU, Cochin Port’s Q2 and Q3 berths at Mattacherry wharf, totalling 228 m of quay length, is being handed over to the Navy for five years for berthing their ships.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Kochi / by Special Correspondent / Kochi – April 06th, 2018