The Cochin Port Trust handled a record 3.20 million tonnes of cargo in December 2020, a monthly record volume for it.
The volume is a 10.55 per cent growth over December 2019, said Cochin Port Trust chairperson M. Beena, in a message to the employees and officials of the port trust. Container movement too touched a consistent 60,000 TEUs consecutively in the four months leading to December.
The surge in the movement of cargo is being looked upon as new shoots in the port business after the plans of 2020 were washed away in the COVID-19 pandemic. The growth in cargo movement is “charting a new growth trajectory. However, we need to find new vistas for revenue generation by optimum utilisation of resources available to us,” the chairperson told the port community.
The port has been recovering from the losses, which had affected it for the past decade. But the pandemic and resultant loss in business had pushed the port into the red. But the port was expected to make a recovery by the end of 2021, the chairperson said.
There was optimism stemming from the fact that though there was a substantial fall in cargo movement in the first half of the current financial year, there was some recovery in the second half.
The port trust was also optimistic that the inauguration of the Kochi-Mangaluru LNG pipeline earlier this month would pave the way for more gas volumes and revenue for the port.
Meanwhile, figures from the Indian Ports Association showed that ports across the country suffered owing to the pandemic and its impact on the global economy. The average fall across the major ports in the country is nearly nine per cent for the period. Mumbai suffered a fall of more than 17 per cent and the Momugao traffic fell more than 23 per cent and JNPT traffic was down by over 12 per cent. Haldia Dock Complex, Paradip, Visakhapatnam, and New Mangaluru suffered lesser falls in business.
Source: The Hindu