Paradip Port Surpasses Deendayal Port to Secure Top Spot in India’s Maritime Sector

In a significant milestone for India’s maritime sector, Paradip Port in Odisha has clinched the title of the country’s largest major port in terms of cargo volumes. The Ministry of Ports, Shipping and Waterways announced that Paradip Port recorded a remarkable throughput of 145.38 million tonnes in the fiscal year 2023-24, surpassing the longstanding record held by Deendayal Port Authority in Gujarat.

This achievement marks the first time in its 56-year history of operation that Paradip Port has outperformed Deendayal Port, underscoring its growing prominence in India’s maritime landscape.

According to official statements, Paradip Port Authority (PPA) has attributed its success to several key factors. Notably, the port achieved its highest-ever coastal shipping traffic, reaching 59.19 million metric tonnes, reflecting a growth of 1.30 percent compared to the previous year. Additionally, thermal coal shipping witnessed a significant uptick, with a handling of 43.97 million metric tonnes, marking a 4.02 percent increase from the previous year’s figures.

The port’s growth trajectory was further propelled by operational enhancements, particularly at its mechanized coal-handling plant. These improvements led to increased efficiency and the handling of a record-breaking 27.12 million tonnes of thermal coal.

In terms of productivity, Paradip Port has set a new benchmark among all ports in the country, achieving a berth productivity rate of 33,014 metric tonnes, representing a notable 6.33 percent growth from the previous financial year. The port also witnessed a considerable increase in the handling of rakes and ships, further solidifying its position as a vital maritime hub.

Financially, Paradip Port’s operating revenue surged to over Rs 2,300 crore in FY24, marking a substantial 14.30 percent increase compared to the previous fiscal year.

Looking ahead, Paradip Port is poised for continued expansion, with plans to surpass the 300 million tonnes capacity mark within the next three years through the commissioning of the Western Dock project. Furthermore, the port’s strategic location near mineral-rich hinterlands positions it favorably for future growth and development.

As part of its business development initiatives, Paradip Port has frozen its tariff for cargo handling at 2022 levels for the next three years, reaffirming its commitment to cost-effectiveness and competitiveness in the market.

The news of Paradip Port’s ascendancy comes as a significant shift in India’s maritime landscape, signaling its growing capabilities and potential for further growth and development in the years to come.

Leave a Reply

Your email address will not be published. Required fields are marked *

LATEST NEWS