Major Ports improve performance in key parameters in FY24
The country’s Major Ports have registered an improvement in key parameters and are now clocking at global best levels, according to data compiled by the Ministry for Ports, Shipping and Waterways. The average container turnaround time (TRT) for eight Major Ports improved to 22.57 hours during 2023-24, from 23.44 hours in fiscal 2022-23, which is better than the USA (1.5 days), Australia (1.7 days), Singapore (1.0 days), as per an analysis.
Besides faster operations, these ports were also successful in handling 532.6 million tonnes (MT) of cargo during 2023-24, 6% more than the preceding fiscal. Improved operational performance was reflected in the earnings of the ports as well - PPA reported a 21% higher net surplus over 2022-23 levels at Rs 1,570 crore by the end of fiscal 2023-24. Jawaharlal Nehru Port Authority (JNPA) had a turnaround time of 22.22 hours and 85.82 MT cargo handling, besides 1,263.94 crore as net surplus, as per a report.
Source: Exim News Service: New Delhi, May 9