Chennai & Kamarajar Ports target to cross 100 million MT cargo in FY 2023-24

CHENNAI : The Chennai Port Trust and its subsidiary Kamarajar Port Ltd have set a target of crossing 100 million metric tonne of cargo in the current financial year, a top official said here on Monday.

Both the ports handled 92.46 million metric tonne of cargo in the last financial year, Chairman and Managing Director Sunil Paliwal said.

Kamarajar Port Limited (KPL) handled 43.51 MMT cargo throughput in 2022-23 as against 38.74 MMT in 2021-22 showing an increase of 12.31%. In FY 2022-23, the cargo profile of Kamarajar Port constituted of 59.36% Dry Bulk Cargo, 24.41% Container Cargo, 11.1% Liquid Bulk, and remaining 5.13% Break Bulk Cargo.

Kamarajar Port is the only corporatized Major Port in India. The first berth in the port was developed in 2001 for handling coal and now it has become a multi commodity handling port by developing state of art cargo handling terminals. Today, Kamarajar Port is an Energy Port with 2/3rd of its cargo handling is contributed by POL, LNG, LPG and Coal.

The multi cargo terminal has recorded the highest growth of 62.93% by handling 1.89 MMT in 2022-23 as against 1.16MMT in 2021-22. Coal handling at KPL has increased by 13% with 24.24 MMT throughput in 2022-23 as against 21.48 MMT in 2021-22. Container handling at KPL has increased at a rate of 14.55%. 5,50,151 TEUs were handled in 2022-23 as against 4,80,257 TEUs in 2021-22.

In terms of automobiles, the handled 1,48,307 automobile units in 2022-23 as against 1,35,702 automobile units in 2021-22 with an increase of 9.29%. Long term agreements for use of port facilities signed with Maruti Suzuki India Ltd on 19.12.2022, Caterpillar India Pvt Ltd on 07.02.2023 and PCA Automobiles India Pvt Ltd on 17.02.2023. KPL’s agreement with Renault Nissan Alliance (NMIPL) has been renewed on 17.03.2023 for next 5years with provision to extend for another 5 years.

According to the provisional unaudited financials, Kamarajar Port has crossed Rs.1000 Cr income mark for the 1st time during the year 2022-23 showing an increase of 17.82% over 2021-22 income of Rs.850.84 Cr. KPL redeemed tax-free bond issued in FY 2012-13 to the tune of Rs.82.93 Cr in March 2023. The Port registered a Net Surplus (Profit Before Tax) of Rs 669.93 Cr in the FY 2022-23 with an increase of 24.39% against the PBT of Rs 538.59 Cr of 2021-22.

KPL is currently undertaking an ambitious Capital Dredging Phase-VI project to provide 18m draft to enable handling of cape size vessels and bigger container vessels. According to a press release from the port administration, this project is undertaken at a cost of Rs.549 crores. The environment clearance for the project has already been obtained on 30.10.2018, mentioned the release.