Port Wings News Network:
Chennai Port is facing challenges in the cargo performance due to reasons like general external conditions and severe competition in the region in Port business, P Raveendran, IRTS, as Chairman, Chennai Port Trust (ChPT), has said.
Addressing the gathering during the Republic Day celebrations, Raveendran said, “Despite the current situation in the automobile industry, the export of automobile from Chennai Port has increased to 1,43,388 cars from April 2019 to December 2019 when compared to 98,250 cars in the same period during the previous year.”
Raveendran stated: “Our recent initiatives to signing a long term agreement with KIA Motors yielded results and they have already exported 11,283 cars this year till December, 2019. Our long-standing customer, Hyundai, have increased their car export to 1,31,504 cars from the level of 97,935 cars in the previous year, an increase in automobile export, which is about 46%, compared to last year. In bulk segment, the iron and steel cargo handled is double whereas the dry bulk such as limestone, dolomite have come down when compared to last year.”
Raveendran stated: “During the current financial year 2019-20, Chennai Port has handled 35.84 MMT of cargo for the period April to December 2019. During this year, Chennai Port has handled 10,66,000 TEUs containers upto December 2019 as against 12,33,000 TEUs containers during the same period in the previous year. There has been a marginal increase of 3% in the petroleum products and crude handled through the Port. Chennai Port is making all efforts to ensure that the streams of cargo where there is reduction is brought back, by marketing initiatives.”