KoPT achieves 13% growth in traffic handling in FY18

Kolkata: The Kolkata Port Trust (KoPT) handled 57.88 million tonnes of cargo in 2017-18, clocking a 13.61 percent growth over 50.95 MT handled in the previous fiscal, an official said on Wednesday.

Its operating income, excluding dredging subsidy, increased to Rs 2,046.09 crore during 2017-18, up 15.06 per cent from Rs 1,778.26 crore in the previous year.

Overall growth in cargo handling was 13.61 percent, much higher than the average growth rate of 4.79 percent clocked by Indian major ports, he stated.

In another milestone, the Kolkata Port Trust is also eyeing a surge in container handling for Nepalese cargo with the dual objective of boosting economic as well as the strategic relationship between the two countries.

KoPT has come up with a Nepal facilitation centre in its Kolkata office and assigned a nodal officer to deal with all queries pertaining to Nepal trade.

"A team led by our Traffic Manager and Director (Marine) recently paid a visit to Nepal and interacted with the trade and marine sector there. 20 percent of our total cargo handling is from Nepal. However, lack of information and transparency of rates were major constraints in developing trade. In order to set it right, we are taking all possible measures," KoPT chairman Vinit Kumar said at a press conference on Wednesday.

Kumar said that the KoPT is targeting a growth of 3 percent in container traffic and 30 percent in bulk cargo. The KoPt has also made a separate link titled "Nepal Corner" on its website.

The KoPt chairman maintained that though some traffic meant for Nepal has shifted to Vizag Port but still the former had handled more cargo from Nepal in the concluding fiscal compared to the previous year.

"Haldia Port has sent 5 lakh tonnes of coal and 1 lakh tonnes of fertiliser to Nepal in this year while Kolkata Port has dispatched 75,000 TEU containers to the neighbouring country," a senior port official said.

When questioned about the ongoing spat with Haldia Bulk Terminals, Kumar said that a case is on at the International Court of Arbitration and the hearing has been concluded.

In 2012, HBT, a cargo handling company promoted by ABG group of India and LDA of France had announced its immediate exit from Haldia port, citing unsafe work conditions. However, KoPT had objected to the abrupt termination of the 10-year contract.

He added that the KoPT has filed damages to the tune of Rs 400 crore while HBT had claimed damages worth Rs 200 crore.

The KoPT has reported robust earnings for the 2017-18 Financial Year riding on strong cargo traffic and operating income. The highest traffic of 57.88 million tonnes of cargo in the fiscal pushed the KoPT's operating surplus (excluding dredging) to Rs 838.05 crore from Rs 659.27 crore in 2016-17, recording a rise of 27.12 percent.