Port Trust appears all set to reach a net profit of Rs 37 crore this fiscal
after two consecutive financial years that failed; the loss for the last fiscal
was Rs 27.17 crore.
turnaround was, according to Dy Chairman AV Ramana, due to increased crude
throughput by BPCL-Kochi Refinery coupled with the higher container traffic at
the DP World operated International Container Transshipment Terminal.
capacity utilization at the LNG terminal is expected to bring in more revenue.
handling and container traffic registered growth. The port recorded 20 percent
growth in cargo handling during April and August and Ramana pointed out that it
was the highest among all the major ports.
As for the
crude traffic, the port reached a 28 percent growth and it is attributed to 15
MMTPA that port handled helped by Integrated Refinery Expansion Project of
BPCL. The Dy Chairman said that the full potential of the project will be
realized from FY19 onwards with the POL traffic touching 17MMTPA.
container traffic also saw a 13 percent growth at five lakh TEUS and it will
touch 5.5 lakh TEUS by the end of the current fiscal, Ramana said, adding that
ICTT in August hosted more than 1,000 mainline vessels since its inception in
2011, connecting Kochi with international ports.
of GST has actually helped increase throughput since Walayar Check Post has
been removed permanently in compliance with the new tax regime that promoted
free inter-state movement.
two significant factors that will help growth, according to Goutam Gupta,
Traffic Manager, are the LNG imports which are expected to go up to 2.5MMTPA in
FY19 from the present 2 MTPA with the GAIL pipeline getting connected to
Mangaluru by this year end and the cruise vessel calls.
the major cruise vessel call port in India. Coasta Neoclassica of the Coasta
Cruises, Italy on the cruise circuit between Mumbai and Male calls at Kochi
either on the way to Male or on the return trip. Moreover, the new cruise
terminal built at the cost of Rs 25 crore will be operational next year and it
will be able to service large cruise vessels of 2000 passengers.