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Cochin Port Trust Makes a Turn-Around, Breaks 10-year Loss Cycle

Cochin:

Port Wings News Network:

Cochin Port Trust has made a turn-around in the financial front by making a net surplus of about Rs 4 crore overcoming the loss registered continuously during last 10 years.

The Port achieved an all-time high cargo throughput of 29.14 million metric tonnes for the year 2017-18 recording an impressive growth of 16.51% over 2016-17. Incidentally, the cargo growth rate is the highest amongst all the Major Ports of India. Container traffic grew by 13% during the same period.

PERFORMANCE

During 2017-18 the Port handled a Total traffic of 29.14 Million Metric Tonnes (MMT) as against 25.01 MMT during 2016-17 registering a growth of 16.51 %.

The Total no. of Containers handled during 2017-18 is 5.55 lakhs TEUs (Twenty-foot Equivalent Units) and during 2016-17 is 4.91 lakhs TEUs registering a growth of 13%.

Total POL (Petrol, Oil & Lubricants) handling improved from 15.79 MMT during 2016-17 to 18.66 MMT during 2017-18 registering a growth rate of 18.17%.

Cochin is the most preferred cruise destination port in India with 42 Cruise vessels called at the Port during 2017-18.

Cochin Port handled Coastal Steel Cargo of Rastriya Ispat Nigam Ltd. (RINL), Vishakapatnam by Coastal Shipping with effect from October 2017.

The Port could attract river sand & Illmenite sand vessels during the current year and handled 1.33 lakhs & 0.37 lakhs respectively during 2017-2018.

Introduction of Incentive/Penalty Scheme under Berthing Policy of Govt. of India w.e.f. 04/06/2017 has helped to achieve higher productivity in handling POL & Cement.

Cochin Port Trust and Indian Navy entered into a Memorandum of Understanding (MoU) for utilising the Q2-Q3 berths at Mattacherry Wharf of Cochin Port for berthing Indian Navy ships. The MoU was signed on 5/1/2018. As per the MoU, Cochin Port’s Q2 and Q3 berths at Mattacherry Wharf, totaling 228m of quay length, is being handed over to Indian Navy for 5 years for berthing their ships.

FUTURE PROJECT

Cochin Port proposes to provide International Cruise Terminal facilities inside Ernakulam Wharf area to cater to the cruise passengers with the functional and service requirements as per the Standard Operating Procedures (SOP) issued by Ministry of Tourism. The project consists of Construction of an International Cruise Terminal building of approximate area 2253 m2 with connected facilities.

NIT for a consolidated tender for Civil, Electrical and certain ELV works with estimated cost of Rs. 22.34 crores published on 9th Feb. 2018 with due date of tender submission on 12/03/2018. Technical Bids have been opened and are under evaluation. Work is expected to be awarded by May 2018.

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