NMPA registers 10.36% growth in cargo handling, nets ₹551 crore surplus in 2023-24

MANGALURU : The New Mangalore Port Authority (NMPA) has registered 10.36% growth by handling 45.7 million tonnes (MT) of cargo in 2023-24 as against 41.41 MT cargo in 2022-23.

NMPA has achieved a net surplus of ₹551 crore in 2023-24 as against ₹374 crore in the previous financial year. The port handled 1,476 vessels as against 1,293 vessels in 2022-23.

Increased handling of both inbound and outbound dry cargo, including iron ore, coal and petrochemical products, as well as container traffic appears to have contributed to the growth in traffic at the port.

The total dry bulk handled rose from 9.28 MT in 2022-23 to 13.25 MT in 2023-24, which is a growth of 42.74%. Liquid bulk, mainly the crude oil, remained almost static, at 29.2 MT in 2023-24 as against 29.29 MT in 2022-23 with a 0.32% decline in growth.

The major portion of inbound cargo comprised coal (7.73 MT in 2023-24 as against 4.99 MT in 2022-23), iron ore (2.08 MT as against 1.46 MT) and containers (1.71 MT as against 1.44 MT). The major portion of outbound cargo comprised iron ore (2.41 MT as against 1.3 MT), Petroleum, Oils and Lubricants (POL) products (5.23 MT as against 5.92 MT), petrochemicals (0.9 MT as against 0.7 MT), and containers (1.08 MT as against 0.9 MT).

Container traffic

The year saw an increase in the container traffic with the port handling 1.96 lakh TEUs (20 feet equivalent unit) weighing 2.8 million tonnes in 2023-24 as against 1.65 lakh TEUs weighing 2.36 MT in 2022-23. Tiles (5.8 lakh tonnes) and raw cashew (4.98 lakh tonnes) formed the bulk of inbound container traffic in 2023-24 as against 4.3 lakh tonnes and 4.8 lakh tonnes, respectively, in the previous year.

Coffee (2.23 lakh tonnes in both the years) and fish meal (1.74 lakh tonnes in 2023-24 as against 1.11 lakh tonnes in 2022-23) formed the bulk of the outbound traffic. Gherkins were loaded in considerable quantities, 90,410 tonnes in 2023-24 as against 61,396 tonnes in the previous year.

Road connectivity

Achieving an operating ratio of 34.55%, NMPA officials are hopeful of crossing 50 million tonnes of cargo in 2024-25, the golden jubilee year of the port, provided road connectivity across the Western Ghats in Karnataka is open throughout the year.