Times of India reported that Visakhapatnam Port Trust is facing rough weather due to the ongoing global downturn.A significant decline in overall cargo handling at VPT is on the horizon this fiscal thanks to a steep decline in handling of its main commodities iron ore and petroleum,oil and lubricants handling.
VPT officials said that while the handling of iron ore at VPT has dipped by more than 35%after iron ore exports to China came to a standstill,exports to other countries have also reduced due to continued recession in global markets.
Apart from iron ore,handling of petroleum products has also witnessed a decline of 20%at the port,giving jitters to the port authorities,who are trying to find ways to tide over the crisis.
VPT,which had earlier been in the top slot for seven consecutive years among the major ports,has now been relegated to second position in terms of cargo handling,with Kandla Port overtaking it to surge to the numero uno position.
Sources said that up to December 15th,the port handled 7.7 million tonnes of iron ore,as against about 12.6 million tonnes during the same period last year,a decline of 4.8 million tonnes.For the whole of last financial year,the port had handled 16.07 million tonne of iron ore.The port's POL handling declined to 10.7 million tonne up to December 15th,as against 13.8 million tonne during the corresponding period last year.
The VPT had handled a total cargo of 67.41 million tonne last year,which is less than the 68.04 million tonne cargo handled in 2010-11.The port handled over 19 million tonne of iron ore and pellets and POL each in 2010-11.But the iron ore cargo handling declined to 16 million tonne in 2011-12.
A senior officer in VPT added that ff things continue the way they are,the port could see a deficit of 6 million tonne to 7 million tonne in both iron ore and POL handling,impacting the total handling of cargo at VPT in the current financial year.