In the Eclipse debug view:

what is the meaning of the localhost:51883? Is it the connection port for remote debugging? or is something else?
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this is the port using which Eclipse debugger communicates to the Virtual Machine.
VM has got a JPDA (Java Platform Debugger Architecture) that provide interfaces (JVM TI – Java VM Tool Interface, JDI – Java Debug Interface) that tools like eclipse debugger use to connect and debug. And the port they connect onto is shown in that view.
You see, in this case your VM is on your localhost so it shows localhost:51883 , in case you were into remotedebugging, it would show
serverIP:availableport