It. gives immense pleasure to share with you that Cochin Port could achieve the sixth position among the Major Ports in the evaluation of Individual Port Performance for the year 2015-16 carried out for the purpose of Productivity Linked Reward (PLR). In spite of our financial constraints, Port management is committed to pay PLR I to CoPT staff and pensioners in a time bound manner, i.e.,15th November and 15th December, 2016.
We are able to achieve a traffic growth of 6.6% during the April-October 2016 period with an appreciable 20% growth in the container handling.
The arrival of coastal car carrier brings new hopes to the Port and we are looking forward to more vibrant port activities on Willingdon Island.
Increase in crude oil handling and POL due to BPCL Refinery expansion will give further fillip to our growth.
Govt. of India was very considerable to Cochin Port Trust and had waived Rs.897.23 crores of penal interest.
Recently, we have got favourable arbitration award from Ministry of Law on the issue relating to payment of transfer fee by BPCL Kochi Refinery. Cochin Port Trust is exploring and trying to tap further coastal cargo and also strategic tie-up with Coast Guard for improving port revenue.
Committed initiatives by Govt. of Kerala are yielding results and the bottlenecks to laying of pipelines by GAIL are being cleared on war footing. Once the pipeline network is ready, the LNG terminal at Puthuvypin will operate to its full capacity, ensuring higher revenue to the Port.
I thank the labour unions in the Port for ensuring strike-free functioning of the Port, which helped a lot in gaining credibility among the trade in Kerala as well as in the hinterland in Tamil Nadu and Karnataka.
Let us strive hard to achieve higher goals in the coming days to take our port to its past glory.