Source: ET Infra
Indian ports have registered an improvement in key parameters and are now clocking at global best levels, senior officials told ET.
According to data compiled by the Ministry for Ports, Shipping, and Waterways, average container turnaround time (TRT) for eight Major Ports improved to 22.57 hours during 2023-24, from 23.44 hours in fiscal 2022-23. These eight handle 65% of all cargo moving on the central government administered ports of the country.
According to the centre, average container turnaround time reached less than a day in 2023-24 which is better than USA (1.5 days), Australia (1.7 days), Singapore (1.0 days). The improvement is on the back of investments in cargo handling equipment on berths and better supply chain visibility due to digitalization, officials said.
The most improvement has been registered at the New Mangalore Port Authority (NMPA) where container TRT is 18.65 hours in the year under review, down from 26.50 hours in the fiscal 2022-23. With a container turnaround time of 18.48 hours, the V. O. Chidambaranar Port Authority (VOCPA) is India’s most efficient port under this parameter for the year.
Besides faster operations, these ports were also successful in handling 532.6 million tonnes (MT) cargo during 2023-24, which is 6% more than the preceding fiscal. At 145.38 MT, the Paradip Port Authority (PPA) handled the most cargo from among all Major ports during 2023-24. This port in Odisha also reported the highest increase in cargo handled by volume, improving by 10.02 MT over 2022-23 levels.
Improved operational performance reflected in earnings of ports as well. PPA reported a 21% higher net surplus over 2022-23 levels at Rs 1570 crore by the end of the fiscal 2023-24. Jawaharlal Nehru Port Authority (JNPA) came second with a turnaround time of 22.22 hours and 85.82 MT cargo handling raked in Rs 1263.94 crore as net surplus.
The Deendayal Port Authority (DPA) was the only Major port to record a decline in cargo handling which fell by 5.19 MT to 132.37 MT in fiscal 2023-24. Despite the overall lower cargo movement, this Gujarat port recorded a 2.04% higher net surplus at Rs 1096.6 crore.
