Port clocks record growth of over 25% in total cargo handling in FY18
Mumbai, April 20, 2018: Krishnapatnam Port Company Limited (KPCL), the country’s largest all-weather; deep water port, on the east-coast of India, today announced that it has handled 45 Million Metric Tonne(MMT) of cargo in 2017-18 (FY18) thus, achieving a 25% growth over 36.10 MMT handled in the previous fiscal.
The company witnessed a record 88% rise in the number of containers it handled at 4,81,408 TEUs vis-à-vis 2,55,439 TEUs during the last fiscal. Total bulk cargo handled by the port stood at 37 MMT.
Coal, Iron ore and Granite dominated the cargo portfolio handled at Krishnapatnam Port. It is now aspiring to achieve an impressive 52 MMT in Bulk and 2 Lakh TEU in Containers this fiscal. The port has planned a total investment of USD 3 billion of which 1.23 billion has already been invested for development till date with second phase of expansion underway.
On the occasion, Mr. Anil Yendluri – Director and CEO said, “Favorable government policies and handling of new cargo such as sand, steel products and agri-commodities have added to the growth of our shipments. Cargo in Andhra-Telangana, north and east Karnataka, besides eastern parts of Maharashtra which were earlier going to other ports have witnessed an instant cost advantage availing route optimization, multi-modal connectivity, and competitive pricing after they switched to Krishnapatnam Port.”
“Our world-class technology driven infrastructure further reiterates our claim to offer the most convenient and trade efficient gateway on the eastern periphery of the country,” he further added.
The number of vessels visiting the Port rose by 22% to 1290 vessel calls in 2017-18 as against 1061 vessels registered during the same period, last year.
With government’s push towards solar energy, the port has also witnessed a sharp rise in solar related shipments. It has successfully concluded 13,084 FEUs of solar cargo for the year FY17-18
With excellent rail connectivity in the states like Telengana and Bangalore the new connectivity from Nagpur, Maharashtra beginning this May 2018, will offer an additional spurt in shipments.
Vinita Venkatesh, Director, Krishnapatnam Port Container Terminal said “The cargo spurt resulted partly from the growth of transshipment volumes at KPCT as the Indian Flag operators like Shreyas Shipping provided transshipment feeder services from KPCT to Kolkata, Haldia, Vizag and Paradeep. Further to provide higher cost benefits to importers and exporters the port is offering door to door cargo logistics under its new service ‘Ocean2Door’. The service will soon offer online cargo bookings too.”
Despite industry slowdown, Krishnapatnam Port registered an overall growth of 25% in cargo handled, much higher than the average growth rate of 4.79% clocked by the Indian major ports.
In line with its ambitions to emerge as a coastal cargo hub on the east coast of the country, Krishnapatnam Port Container Terminal (KPCT) has recently set up a dedicated coastal cargo berth to handle the growing coastal cargo traffic and reducing the time loss.
With the highest 16 meters draft facility for the container vessel berth, the port also has excellent connectivity to the major destinations across the globe. Major industries such as– thermal power plants, edible oil refineries, lubricant plants, steel plants, leather parks, fertilizer plants, SEZs, pipe manufacturing, multi-product industrial zones, wind mill manufactures, mega food parks, etc. as led Krishnapatnam Port as an ideal gateway for EXIM trade The region is expected to change the economic and trade outlook of Eastern India and is soon to emerge as the industrial growth engine of South and Eastern India.
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