CHATTOGRAM, Jan 2: Despite various challenges including dull economic trends, prolonged political turmoil, and adverse climate conditions, Chattogram seaport has set a record in container handling in 2024, registering a 7.42 per cent growth in container handling compared to 2023.
The country's prime seaport has handled a total of 3,276 million TEUS containers while 123.6 million metric tonnes of bulk cargo just the previous year. On an average 3.11 percent growth was also achieved in the cargo handling.
"Chattogram Port has achieved the highest volume of container and cargo handling in its history in 2024," CPA Chairman S M Moniruzzaman briefed the press on Wednesday saying setting up new records in both container and bulk cargo handling has brightened the images of the port to the outside world as well as a welcome news for county's economy.
Besides, the CPA chairman said, the port also recorded a revenue income of Tk 50,559.9 million registering a 21.39 per cent increase from the previous year's Tk 41,651.8 million.
Such growth has helped the port from the risks of its possible out-throw from membership of the 3-million club, sources said.
The revenue surplus stood at Tk 29.489.7 million, marking a 37.60 per cent rise compared to the previous year's Tk 21,431 million. The revenue expenditure was Tk 21,072 million, which is 4.20 per cent less than last year's Tk 22,028 million.
The CPA completed the container handling data by tallying the number of import, export, and empty containers that were loaded and unloaded at the port's main jetties, the Pangaon Inland Container Terminal in Keraniganj and Kamalapur Inland Container Depot in Dhaka.
The performance of the outgoing year could have reached new heights if there had not been a tense situation centering the July-August student-mass uprising, restriction in importing luxury goods, rapid fluctuation in US dollar price and sharp fall in opening Letter of Credits ( LCs) against industrial raw materials, general commodities and capital machinery coupled with prevailing dull trend in global economy that affected adversely the import-export trade.
Container handling by the port slowed in 2022 and 2023 when the country experienced a slowdown in foreign trade, caused by global crises such as the Russia-Ukraine war and conflicts in the Middle East, as well as domestic challenges like US dollar scarcity and rising inflation.
The growth in all index of port operations has been possible in 2024 following a domestic economy's significant bounce-back, particularly for enhanced remittance flow and pragmatic policy implemented to streamline the fragile banking sector after assuming power by Interim Government of Prof-Muhammad Younus, port and business circle sources observed.
They also opined that the introduction of the latest equipment, adopting stringent measures to check irregularities, and combating corruption will significantly contribute to improving further the performance of the country's main export-import trade handling facility.
The rise in container and cargo handling also indicates that the country's foreign trade is expanding and gradually recovering from recent economic challenges, port sources said.
Chattogram Port, ranked 67th among the world's 100 busiest ports, has been facing several challenges in recent years. —BSS
