Essar Vizag Terminal Geared for Growth
May 14th, 2019
Since the inauguration of its expanded capacities in QI FY 2019, Essar Vizag Terminal (EVTL), India’s largest iron-ore handling complex, has had a promising FY19. There has been 12% growth in the anchor customers as compared to the same period last year. Also, March ’19 saw the terminal crossing one million tonnes of cargo-handling, a feat accomplished for the second-time since taking-over. This is expected to become a regular practice in FY20.
FY19 was very eventful for EVTL for many reasons. It received reports of immense customer satisfaction from export vessels as it delivered 100% dispatch bonus, as well as zero percent contamination.
The Company also dredged till -20 metres on OB#2, enabling it to now berth even capsize vessels. It also created the benchmark for best loading-rate by crossing one lakh tonnes per day (TPD) for a mini-cape size vessel.
As we turn to the new financial year, a lot of positive developments are taking place. The Cabinet has approved to continue the long-term agreements (being extended since 1976) for supply of iron-ore to Japan and South-Korea through MMTC Limited for next three years, i.e. till 2021. The cargo commitment would vary between 2.70 MT to 4.90 MT per annum. The Cabinet has also approved the customs duty rebate (from 30% to 10%) for MMTC Iron-Ore export, thereby enabling long-term agreements of Japan and South-Korea for the next three years.
With great infrastructure at its disposal, and a positive business environment, EVTL is all set to raise the bar and take up more business opportunities in FY20.
- Received Project Completion Certificate from a government-owned independent engineering firm, M/s. Mecon India Limited in FY 18-19.
- Dredging till -20 Mtrs on OB#2, thereby enabling the berthing of capesize vessels up to 200,000 DWT
- 12% growth in anchor customer business as compared to the same period last year
- Assured cargo commitments through long-term agreements for supply of iron-ore to Japan and South-Korea (through MMTC Limited). Cargo to vary from 2.7 MT to 4.9 MT per annum.
- Created a new benchmark by achieving 100,000 TPD loading rate