Major ports show muted growth in cargo as thermal coal volume slides 15%

A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The major ports reported a muted growth of 1.14 per cent as shipments of other key cargo like coking coal, liquid cargo and containers recorded only measly growth.

Liquid cargo comprising crude oil, petroleum products, LPG and LNG grew by only by 2.5 per cent. Other liquid cargo too inched up only 1.43 per cent in the period under review. On the contrary, raw fertilizers and other miscellaneous cargo showed de-growth of 2.8 per cent and 4.08 per cent, pulling down cargo volumes at major ports. Growth in container shipments too was measly. In tonnage terms, container volumes were up 2.16 per cent whereas in TEUs (twenty tonne equivalent units) barely rose 2.65 per cent.

Among major ports, Visakhapatnam port upstaged others in cargo throughput growth, recording 10.98 per cent increase. The double  digit growth was largely propelled by iron ore traffic. Iron ore volume shipped through major ports spiked 39.02 per cent. Finished fertilizers registered a firm growth of 21.55 per cent.

While the Visakhapatnam port clocked double digit  growth despite depressed thermal coal volumes, some of the major ports logged negative growth – Kamarajar (-7.31 per cent), Chennai (-10.42 per cent), New Mangalore (-12.96 per cent) and Mormugao (-12.85 per cent) and Jawaharlal Nehru Port Trust JNPT (-3.35 per cent).

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel