Haldia Bulk Terminals (HBT) Pvt. Ltd. may have to quit its Haldia operations even if it manages to settle ongoing dispute with agitating workers.

HBT chief executive officer Gurpreet Malhi recently hinted that the company is incurring heavy losses at Haldia Dock Complex (HDC), and analysts are of the view that poor financial status may force the company to give up its operations at its two berths at the complex.

According to a report by the Credit Analysis & Research Limited (CARE), HBT kept on registering cash losses in the fiscal year of 2011-12, for which the company's promoters to pump additional money to the tune of Rs 12.58 crore.

A port official said, "It is evident from these figures that HBT is in no position to continue at HDC under the present circumstances. Its fortunes at Haldia can only change if it gets to handle about nine million tonnes of cargo every year."

But, Malhi has already admitted that it would not be feasible for Kolkata Port Trust to assure nine million tonnes of dry bulk cargo at its berths 2 and 8 because it would lead to a greater disaster as the share of other cargo-handlers would drop considerably.

Moreover, HBT is able to handle nine million tonnes of cargo at its two berths. In 2011-12, it handled around 5.5 million tones of cargo.

The chief of the crisis-ridden cargo handler yesterday revealed that three of its officers and some of the family members were abducted on Sunday. He also accused the sate administration of failing to guarantee safety to the company.