CHITTAGONG: Despite numerous challenges, including a sluggish economic trend, prolonged political turmoil, and adverse climate conditions, Chattogram Port achieved a record in container handling in 2024, registering a 7.42 percent growth compared to 2023.
According to Bangladesh Sangbad Sangstha, the country’s primary seaport handled 3.276 million TEUs and 123.6 million metric tonnes of bulk cargo in the past year. The port also saw an average growth of 3.11 percent in cargo handling. “Chattogram Port has achieved the highest volume of container and cargo handling in its history in 2024,” said CPA Chairman S M Moniruzzaman. The chairman highlighted that these new records have enhanced the port’s international image and are a positive development for the national economy.
The port reported a revenue income of Tk 50,559.9 million, marking a 21.39 percent increase from the previous year’s Tk 41,651.8 million. This growth protects the port from the risk of losing its membership in the 3-million club, sources noted. The port’s revenue surplus reached Tk 29,489.7 million, a 37.60 percent rise compared to the previous year, while revenue expenditure decreased by 4.20 percent to Tk 21,072 million.
The CPA tallied container handling data, including import, export, and empty containers processed at the port’s main jetties, the Pangaon Inland Container Terminal in Keraniganj, and the Kamalapur Inland Container Depot in Dhaka. The port’s performance could have reached new heights if not for the tense situation during the July-August student-mass uprising, restrictions on luxury goods imports, rapid fluctuations in the US dollar, and a sharp decline in opening Letters of Credit (LCs) for industrial raw materials, general commodities, and capital machinery. The prevailing dull global economic trend also adversely affected import-export trade.
Container handling at the port had slowed in 2022 and 2023 due to global crises, including the Russia-Ukraine war and Middle East conflicts, as well as domestic challenges like US dollar scarcity and rising inflation. The growth in port operations in 2024 was facilitated by the domestic economy’s significant rebound, attributed to enhanced remittance flow and pragmatic policies implemented by the Interim Government of Prof-Muhammad Younus, according to port and business sources. They also noted that the introduction of new equipment and measures to curb irregularities and corruption would further improve the port’s performance.
The increase in container and cargo handling indicates that the country’s foreign trade is expanding and gradually recovering from recent economic challenges. Chattogram Port, ranked 67th among the world’s 100 busiest ports, continues to face challenges but shows resilience in its operations.