Bhubaneswar: Paradip port has exported 5.59 MnT of Iron ore in the recently concluded financial year i.e. FY14. The figure is almost 300% more than the previous year’s export figure of 1.83 MnT.
In FY13, poor Chinese demand coupled with problems in availability of Iron ore within the state due to restrictions imposed by the state government has pegged back iron ore exports to historical low of 1.83 MnT. During FY09 & FY10 the Iron ore exports had touched 12-13 MnT, but after the imposition of export duty of 30% in 2012, the export figure of the steel making commodity has dropped sharply.
However, due to improved demand in the international Iron ore market the export figure has improved significantly in FY14 and expected to remain bullish in the new fiscal year.
On the other hand, thermal Coal shipments have increased to 18.86 MnT through the port.
Overall the port has handled record cargo traffic of around 68 MnT in the outgoing financial year.
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