Visakhapatnam Port Sails into Top 20 of World Bank’s Container Port Performance Index

07th June 2024

Report : Visakhapatnam Port cracks World Bank’s top 20 container ports.

Visakhapatnam Port Trust (VPT), a major port on India’s eastern coast, has achieved a significant milestone by securing a spot in the top 20 of the World Bank’s Container Port Performance Index (CPPI) 2023. This prestigious ranking recognizes the port’s operational efficiency in handling containerized cargo, a crucial factor in today’s globalized trade.

The CPPI, developed by the World Bank and S&P Global Market Intelligence, is a benchmark study that assesses the performance of container ports worldwide. It primarily focuses on “quayside performance,” which measures the average time a container ship spends in port for loading and unloading activities. Faster turnaround times translate to lower costs for shipping lines and ultimately benefit international trade.

Visakhapatnam Port’s impressive performance can be attributed to several factors. The Visakhapatnam Container Terminal Private Limited (VCTPL), a wholly-owned subsidiary of J. M. Baxi Ports & Logistics, plays a critical role. VCTPL operates a modern terminal with a capacity of 1.35 million twenty-foot equivalent units (TEUs) annually. The terminal utilizes advanced equipment and technology to ensure smooth and efficient cargo handling.

Furthermore, the Visakhapatnam Port Authority (VPA) has implemented various initiatives to streamline operations. These include investments in infrastructure upgrades, automation of processes, and improved coordination between various stakeholders involved in the port ecosystem. This collaborative approach ensures seamless cargo movement through the port.

Visakhapatnam Port’s achievement is particularly noteworthy considering the dominance of Asian ports in the CPPI rankings. The 2023 edition revealed that 13 out of the top 20 spots were occupied by ports in East and Southeast Asia. Visakhapatnam’s rise within this competitive landscape signifies its growing importance as a key trade gateway in the region.

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The port’s strategic location on the Bay of Bengal positions it well to serve not only India’s domestic needs but also cater to international trade routes connecting South Asia with Southeast Asia and beyond. This prime location, coupled with its recent performance improvements, positions Visakhapatnam Port to attract a larger share of containerized cargo traffic.

The positive impact of Visakhapatnam Port’s accomplishment extends beyond the immediate benefits to the port itself. This recognition serves as a testament to India’s growing prowess in the maritime sector. It underscores the country’s commitment to developing world-class port infrastructure and enhancing operational efficiency. This, in turn, will contribute to India’s ambitions of becoming a global trade leader.

Looking ahead, Visakhapatnam Port has the potential to further improve its ranking in the CPPI. Continued investments in infrastructure, technology, and skill development for its workforce will be key factors in sustaining its competitive edge. By maintaining its focus on operational excellence, Visakhapatnam Port is well-positioned to become a leading container port facility not just in India but on the global stage.

Conclusion

Visakhapatnam Port’s entry into the top 20 of the World Bank’s CPPI is a significant achievement that reflects the port’s commitment to operational excellence. This accomplishment not only benefits the port itself but also serves as a positive indicator for India’s maritime sector as a whole. With continued focus on efficiency and infrastructure development, Visakhapatnam Port is poised to play an even more prominent role in facilitating global trade in the years to come.

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