Indian ports boost efficiency and earnings in 2023-24
PORTS & SHIPPING

Indian ports boost efficiency and earnings in 2023-24

Indian ports have reportedly shown improvement in key parameters and are currently operating at levels comparable to the best globally.

According to data compiled by the Ministry for Ports, Shipping, and Waterways, it was stated that the average container turnaround time (TRT) for eight Major Ports had improved to 22.57 hours during the fiscal year 2023-24, compared to 23.44 hours in the fiscal year 2022-23. It was noted that these eight ports collectively handle 65% of all cargo moving through the central government-administered ports of the country.

It was further mentioned by officials that, according to the government, the average container turnaround time had reduced to less than a day in the fiscal year 2023-24, surpassing that of the USA (1.5 days), Australia (1.7 days), and Singapore (1.0 days). The officials attributed this improvement to investments in cargo handling equipment on berths and enhanced supply chain visibility facilitated by digitalization.

The New Mangalore Port Authority (NMPA) was highlighted as the port showing the most significant improvement, with its container TRT reported at 18.65 hours for the year under review, down from 26.50 hours in the fiscal year 2022-23. Additionally, the V. O. Chidambaranar Port Authority (VOCPA) was recognised as India's most efficient port in terms of container turnaround time, recording a time of 18.48 hours for the year.

Apart from achieving faster operations, these ports also successfully managed to handle 532.6 million tonnes (MT) of cargo during the fiscal year 2023-24, marking a 6% increase compared to the previous fiscal year. The Paradip Port Authority (PPA) emerged as the port handling the highest volume of cargo among all Major ports during the fiscal year 2023-24, handling 145.38 MT. Additionally, it was noted that this port in Odisha had witnessed the highest increase in cargo volume, rising by 10.02 MT compared to the levels of the fiscal year 2022-23.

Indian ports have reportedly shown improvement in key parameters and are currently operating at levels comparable to the best globally. According to data compiled by the Ministry for Ports, Shipping, and Waterways, it was stated that the average container turnaround time (TRT) for eight Major Ports had improved to 22.57 hours during the fiscal year 2023-24, compared to 23.44 hours in the fiscal year 2022-23. It was noted that these eight ports collectively handle 65% of all cargo moving through the central government-administered ports of the country. It was further mentioned by officials that, according to the government, the average container turnaround time had reduced to less than a day in the fiscal year 2023-24, surpassing that of the USA (1.5 days), Australia (1.7 days), and Singapore (1.0 days). The officials attributed this improvement to investments in cargo handling equipment on berths and enhanced supply chain visibility facilitated by digitalization. The New Mangalore Port Authority (NMPA) was highlighted as the port showing the most significant improvement, with its container TRT reported at 18.65 hours for the year under review, down from 26.50 hours in the fiscal year 2022-23. Additionally, the V. O. Chidambaranar Port Authority (VOCPA) was recognised as India's most efficient port in terms of container turnaround time, recording a time of 18.48 hours for the year. Apart from achieving faster operations, these ports also successfully managed to handle 532.6 million tonnes (MT) of cargo during the fiscal year 2023-24, marking a 6% increase compared to the previous fiscal year. The Paradip Port Authority (PPA) emerged as the port handling the highest volume of cargo among all Major ports during the fiscal year 2023-24, handling 145.38 MT. Additionally, it was noted that this port in Odisha had witnessed the highest increase in cargo volume, rising by 10.02 MT compared to the levels of the fiscal year 2022-23.

Next Story
Real Estate

Centre proposes digital property law to modernise registrations

In a landmark move to modernise India’s property registration system, the Central Government has released the draft Registration Bill, 2025, which seeks to replace the 117-year-old Registration Act of 1908. The proposed legislation introduces a fully digital, paperless, and citizen-centric framework for registering immovable property — a first for India’s real estate sector. Prepared by the Department of Land Resources under the Ministry of Rural Development, the draft bill proposes key changes such as online submission and registration of documents, electronic admission and verific..

Next Story
Infrastructure Transport

GMDA Approved to Cut 1,300 Trees for Gurugram Metro Construction

The Gurugram Metropolitan Development Authority (GMDA) has obtained approval to fell 1,300 trees between Millennium City Centre and Hero Honda Chowk for the Gurugram Metro project, officials stated on Monday.A senior GMDA official mentioned that the forest department had granted clearance the previous week. The official explained that permission had been received to cut down 1,300 trees, while approval for felling an additional 500 trees on the stretch from Hero Honda Chowk to Sector 9 was expected soon. They added that the modalities for tree felling would be coordinated with Gurugram Metro R..

Next Story
Infrastructure Transport

PIB Clears East-West Corridor for Lucknow Metro Project

The Public Investment Board (PIB) has granted approval for the East-West Corridor of the Lucknow Metro, with an estimated project cost of ₹5,801 crore. This corridor, part of Phase 1B of the metro project, will cover a distance of 11.165 km, stretching between Charbagh and Vasantkunj.The decision was made during a PIB meeting held in Delhi in the first week of May, which was chaired by the Union Finance Secretary. The approval followed the clearance of the detailed project report (DPR) by the Uttar Pradesh government in March 2024. Subsequently, the Network Planning Group (NPG) provided the ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?