Comments
Shedding its image from a mono- to a multi-commodity port has helped Mormugao Port Trust register a 22.29 per cent growth in the first-half of the current fiscal.
This is the highest growth rate achieved by any major port in the country in the first-half, with growth recorded by Port Kamarajar (Ennore Port) at 16 per cent and V.O. Chidambarnar Port at 10 per cent during the period, Cyril C. George, Chairman-in charge of Mormugao Port Trust, said.
General cargo traffic, except liquid cargo, has increased by 15 per cent, he said, and attributed this mainly to the robust growth of commodities such as wood chips, granite, steel, nickel, alumina, bauxite, and pharmaceutical products. This has been made possible through the marketing initiatives and trade meets held in the hinterland in Hubli, Belgaum, Bagalkhot in Northern Karnataka, he told BusinessLine over phone.
The total cargo throughput during the period was 6.31 million tonnes against 5.16 million tonnes in the corresponding period of 2013-14. The major cargo handled included coal/ coke, besides POL and other liquid cargo.
Apart from this, 0.23 million tonnes of iron ore was exported after the ban on the export of iron ore was lifted by the Supreme Court. With the lifting of the mining ban in Goa, he said the port expects to boost its overall traffic in the current fiscal, with the increase in general cargo volume.
Container traffic also improved during the period, touching 10,669 TEUS compared to 10,195 TEUS and the number of ships has gone up to 25 against 20.
The port is also betting big on pharma products exports as leading pharmaceutical companies have evinced interest in routing their export trade through Goa. To tap the cruise potential, the port is in the process of constructing an ultra-modern cruise terminal at a cost of ₹9 crore, he added.
He said the half-yearly operating income stood at ₹118.80 crore against ₹92.32 crore. The operating surplus for the year was ₹19.74 crore against ₹00.13 crore. This was mainly on account of an increase in general cargo traffic, he added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.