MYSQL Replication _ Master port is 3306 and slave port is 3307
Master mysql port = 3306
master server id = 1
mysql vesrion 5.5.50

Slave mysql port = 3307
slave server id =2
mysql version 5.5.50


I have tested the above scenario with Master port 3306 and slave 3307. And it's working fine. I have followed the steps you have given in the question.

As you have mentioned in the comment.I think it compatibility issue.You can check with the similar version.

 mysql master version = 5.7
 mysql slave version = 5.6



  Statement-based replication depends on compatibility at the SQL level between the master and slave. In others, successful SBR requires that any SQL features used be supported by both the master and the slave servers. For example, if you use a feature on the master server that is available only in MySQL 5.7 (or later), you cannot replicate to a slave that uses MySQL 5.6 (or earlier).


http://dev.mysql.com/doc/refman/5.7/en/replication-features.html
http://dev.mysql.com/doc/refman/5.7/en/replication-compatibility.html