India: Cargo volumes at state-owned ports decline 12.43% during April-October

India’s dozen state-owned ports handled a combined 354.818 million tonnes (mt) of cargo during April to October of the current fiscal, 12.43 per cent lower than the 405.201 mt handled during the same period last year.

Barring Mormugao Port Trust, all the other 11 ports continue to suffer from volume declines triggered by the coronavirus induced demand destruction. However, the extent of volume decline year-on-year has been reducing since July, suggesting a slow recovery in India’s external trade.

Petroleum, Oil and Lubricants (POL) cargo comprising crude oil, petroleum products, LPG and LNG, other liquids, thermal and steam coal, coking coal and containers reported double digit declines during the April to October period compared to last year.

Container volumes declined 16.92 per cent to 4.935 million twenty-foot equivalent units (TEUs) from 5.940 million TEUs a year ago, according to the Shipping Ministry.

Thermal and coking coal plunged 19.51 per cent and 21.38 per cent respectively during the period to 41.217 mt and 26.080 mt (respectively) from a year ago.

Iron ore including pellets jumped 33.20 per cent to 38.390 mt during the period compared to 28.822 last year.

Finished and raw fertiliser cargo witnessed an increase between April and October registering 9.43 per cent and 19.21 per cent growth respectively to 6.253 mt and 4.294 mt respectively from past year.

Mormugao Port Trust handled 10.176 mt between April and October from 8.737 mt a year ago.
Source: The Hindu Business Line

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