Cochin Port Trust (CPT) is in the black after a gap of ten years with significant increase in the cargo throughput.
It clocked a provisional net profit of Rs 4.44 crore for 2017-18 compared with a loss of Rs 27 crore a year earlier. The operating income went up by around 3% to Rs 509 crore. The total cargo handled rose 16.5 % to 29.14 million tonnes.
“The main reason for the turnaround is the increase in the cargo. The petroleum oil and lubricants (POL) cargo grew 18% from a year ago to 18.66 million tonnes. The container traffic increased by 13 % to 5.55 lakh TEUs,’’ CPT chairman P Raveendran said.
Though the number of cargo vessels calling at the port declined slightly, the bigger cargo size helped increase the throughput. “ Among the incremental growth in the cargo traffic, CPT is top among the public sector ports,’’ he said. The average output per ship berth day has increased by 19% from last year to 20880 tonnes.
Encouraged by the performance, CPT has targeted a total cargo throughput of 32 million tonnes for the current fiscal. The port is hoping that with the completion of GAIL pipeline, the handling of LNG will go up in the port. LNG traffic had increased last year. Read More