Sunday January 16, 2022

PIBT handles record coal cargo

January 21, 2021

KARACHI: Pakistan International Bulk Terminal (PIBT) handled a record 1.04 million tons of coal cargo in December 2020, which is 32 percent more than 0.791 million tons cargo handled in December 2019, a statement said on Wednesday.

This is the first month that the terminal volumes have crossed a million tons -- solidly establishing PIBT as the premier bulk terminal of the country, it added.

Also, the terminal handled 5.27 million tons of cargo from July to December 2020, which is 19.7 percent more than 4.407 million tons of coal handled during the same period in 2019. In the last six months, a total of 92 cargo vessels arrived at the terminal, while the total number of vessels handled during July 2019 to December 2020 was 77.

“This performance in the last six months is clearly in line with our objective that is to operate at the international levels of efficiency and establish industry standards for most efficient cargo handling,” said Sharique Siddiqui, CEO of PIBTL, adding that PIBT is an integral part of the coal supply chain across the country.

PIBT was set up with a total cost of $305 million at Port Qasim on BOT (Build, Operate, and Transfer) basis to transform the handling of dirty bulk cargo to modern environmental-friendly standards. It is a state-of-the-art terminal having the capacity for handling up to 12 million tons of coal and 4 million tons of cement and clinker/annum.

The terminal started operations in 2017 and has since handled 452 vessels and the total cargo of 25.2 million tons.

The terminal has so far contributed approximately Rs10 billion to the national exchequer in the terms of royalty payment of $2.27 for every ton of cargo handled, and other duties and taxes.