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The correct answer is option 4: 1, 2, and 4.
Let`s analyze each statement:
1. Kolkata port is the only riverine major port of India: This statement is correct. Kolkata port is indeed the only riverine major port in India.
2. The port of Cochin is located on Willington Island: This statement is also correct. The port of Cochin is located on Willington Island in Kerala.
3. Maharashtra has three major ports: This statement is incorrect. Maharashtra actually has two major ports - Mumbai Port and Jawaharlal Nehru Port Trust (JNPT).
4. Mundra port is India`s major port in the private sector: This statement is correct. Mundra port, located in Gujarat, is India`s major port in the private sector.
Therefore, options 1, 2, and 4 are correct, making option 4 the correct answer. Note that option 3 is incorrect as it includes statement 3, which is wrong.