With COVID-19 continuing to disrupt trade and business across the globe, the Cochin Port Trust saw a fall in cargo throughput as well as in the number of ships calling at the port.
During the first half of 2020-21, the port handled a total of 12.58 million tonnes. This is a decline of more than 24% in cargo volumes as compared to the same period during 2019-20.
Petroleum, oil, and lubricants throughput stood at 7.20 million tonnes, and containerised cargo movement stood at 2.85 lakh TEUs in the first half of the year. With the continuing disruption in normal movement of vehicles and suspension of air services, petroleum product movement declined nearly 34% this financial year when compared to the same period last year. Decline in container movement is around 9% when compared to the fist six months of 2019-20.
However, the first half ended on a positive note for the port, with cargo movement registering nearly 10% growth in September. This is the first time during the pandemic days that cargo throughput is showing a positive trend, port sources said. Some signs of recovery were visible in the volume of containers being handled at the International Container Transshipment Terminal at Vallarpadam. The negative trend in container cargo has shown a slowdown, even as the container terminal notched up record handling of the highest volume of cargo for a single month in September this year. The terminal handled 62,472 TEUs of cargo during the month.
Meanwhile, the port trust has invited expression of interest (EoI) from investors with experience in port, shipping, or logistics businesses for developing the NCB berth and back-up areas on public-private partnership basis/landlord model. The project is aimed at bringing cargo and vessel traffic to the port. The port trust said those interested were encouraged to offer innovative business suggestions for the proposed venture, contributing to an increase in business through projects like warehouses, tank farms, and bulk cargo storage silos.
The port is also open to considering developing any other berths besides the NCB depending on the business potential.
