Posted on April 4, 2017
The Cochin Port Trust (CPT) registered commodity traffic of 25.01 Million Metric Tonnes Per Annum (MMTPA) in the 2016-17 fiscal, the highest in its history. It is estimated the CPT’s net loss would ease to Rs 35-40 crore this year from Rs 40.52 crore in 2015-16.
Briefing about the performance of the port, deputy chairman Venkata Ramana Akkaraju said traffic increased 13.2 per cent to 25.01 MMTPA in 2016-17 from 22.10 MMTPA in 2015-16. Container movement rose to 4,91,089 TEUs in the year from 4,19,550 TEUs a year earlier.
There was an increase in the arrival of vessels during the year, with cargo vessel arrivals rising to 1,211 from 1,169 last year and cruise vessel arrivals to 46 from 33.
Operating income rose to Rs 486.57 crore in 2016-17 from Rs 437.25 crore in 2015-16, while operating expenditure dropped to Rs 362.51 crore from Rs 366.35 crore, leaving a surplus of Rs 124.06 crore. Finance and management expenditure rose to Rs 201.96 crore in 2016-17 from Rs 184.52 crore last year, partly owing to disbursal of pension arrears.
Akkaraju also attributed the high expenditure to the ongoing dredging in the shipping channel. Every month, Rs 3 crore is spent for dredging carried out on behalf of the International Container Transship Terminal (ICTT). The ICTT transfers around Rs 7 crore to the CPT as revenue every month.
“This year’s performance will further bolster income and the overall performance next year,” he said.
As far as new projects are concerned, the CPT is planning to install CCTV cameras on wharfs, which would reduce the number of CISF personnel deployed on them. The number of personnel at ICTT has already been brought down to 300 from 600, thereby saving around Rs 3 crore every month.
One of the major projects taken up by the CPT is the Outer Harbour Terminal, which will be executed with financial assistance from the Indian Navy. As part of the project, the IIT-M is conducting a study on sedimentation.
Another project is development of the Marina. The CPT is currently awaiting a report from consultants to develop the International Cruise Terminal at Ernakulam Wharf, spending Rs 10 crore.
Source: The New Indian Express