14.4 C
Hamburg
Friday, July 10, 2020
Home Port News NMPT's steps to be more competitive

NMPT’s steps to be more competitive

New Mangalore Port Trust (NMPT) has been taking several steps, including abolition of notional booking and payment of speed money to the port’s cargo handling workers, to make the port competitive and attract more business, said NMPT chairman M.T. Krishna Babu.

Speaking to reporters here on Tuesday, Mr. Babu said that even the Parliamentary Standing Committee on Shipping headed by the former Union Minister M. Veerappa Moily had observed that with the practice of notional booking and speed money, NMPT has become costlier.

Financial performance

Mr. Babu said that NMPT registered a net profit of ₹ 124.81 crore in 2017-18 as against ₹ 94.57 crore in the previous fiscal.

There was improvement in container traffic handling too, from 0.95 lakh TEUs to 1.155 lakh TEUs (14.11 lakh tonnes to 17.43 lakh tonnes) during the period.

The port handled 43,973 TEUs (6.41 lakh tonnes) container traffic till July 30 in 2018-19, he added.

Read more at The Hindu.

- Advertisment - LR Sustainability Decarbonisation Digital Adverts

Latest Posts

CMA CGM announces further rate changes out of Asia

Following its rate announcements on the 9 July, CMA CGM has more rates changes from Asia to North Africa, Mediterranean and North Europe, effective...

Maersk urges action to protect seafarers

The world’s largest container ship operator, Maersk Line has added its voice to the call for more action from the authorities following the high-level...

Bunker FFA give hopes to scrubber investors

The current differential in the cost of a tonne of Low Sulphur Fuel Oil (LSFO) and High Sulphur Fuel Oil (HSFO) averages about US$60/tonne,...

Port of Zeebrugge appoints new CEO

Port of Zeebrugge's board of directors appointed Tom Hautekiet as the new chief executive officer (CEO) of the port on 2 July. Tom Hautekiet was...

Evergreen raises capital in maiden overseas bond issue

Taiwanese liner operator Evergreen Marine Corporation will turn to overseas investors to raise US$300 million in capital to cover the company’s operations. The company announced...