12 major ports of India which see cargo growth fall in first six months

Cargo traffic at 12 major ports falls , 12 major ports of India which see cargo growth fall in first six months

Cargo traffic at 12 major ports falls

ports of India which see cargo growth fall: The 12 major ports in India handled 393.73 million tonnes of cargo in the first six months of this fiscal year. This represents a 2.35 percent increase compared to the same period last year, but it’s slower growth than before. From April to September 2022, these government-owned major ports saw a 10.8 percent increase in cargo compared to the previous year, when the economy was recovering from the impact of the Covid pandemic.

During the first half of FY23, these major ports handled 384.17 million tonnes of cargo, up from 346.87 million tonnes in the same period of FY22. This growth continued throughout the year, with the 12 ports handling a record-high of 795 million tonnes of cargo. Looking at specific types of cargo, thermal and steam coal saw a 6.36 percent decline compared to the previous year. Thermal/steam coal is the third-largest category of cargo handled by major ports, following petroleum and containers.

12 major ports of India which see cargo growth fall in first six months

Thermal coal had seen a significant growth of 19.8 percent in the first half of the fiscal year 2023 compared to the same period in the previous year. This increase was driven by higher imports following a government directive to blend imported coal with domestic coal due to a severe power shortage in many parts of the country. However, other types of cargo, which include everything apart from petroleum, thermal and steam coal, coking coal, iron ore, fertilizers, containers, and edible oils, experienced a decline of 11.93 percent in the first half of the fiscal year 2024.

On a positive note, there was a substantial 34.12 percent increase in the movement of iron ore and pellets, mainly for export, reaching 26.11 million tonnes in the first half of fiscal year 2024, up from 19.47 million tonnes in the first half of fiscal year 2023. This growth had suffered during April-September of fiscal year 2023 due to the imposition of export duties on iron ore and pellets in late May 2022, which were later removed in November. While the growth of major ports slowed down, India’s largest port operator, Adani Ports and Special Economic Zone, managed to achieve a 14.14 percent increase in cargo handling, reaching 202.6 million tonnes in the first half of fiscal year 2024. This growth followed an 11 percent rise observed in the first half of fiscal year 2023. Interestingly, Kandla Port (now known as Deendayal), located 71 kilometers away from Adani’s Mundra port, experienced an 8.35 percent decrease in cargo handling during the first half. In contrast, Paradip, Mumbai, JNPA, and New Mangalore reported healthy growth in their cargo handling operations.

Calcutta port latest news

Syama Prasad Mookerjee Port, formerly known as Calcutta Port Trust, saw a modest increase of only 0.81 percent in the first half of fiscal year 2024, which was lower than its counterparts. The dual-dock system at Haldia and Calcutta managed to handle 31.15 million tonnes of cargo, compared to 30.9 million tonnes in the first half of fiscal year 2023. Haldia’s cargo volume increased by a mere 0.15 percent to 22.88 million tonnes compared to 22.84 million tonnes in the previous year. Calcutta reported a slightly better growth of 2.67 percent, handling 8.27 million tonnes in the first half of fiscal year 2024, up from 8.06 million tonnes in the same period of fiscal year 2023.

Port officials, however, expressed optimism for the second half of the year. They anticipate a faster pace of growth in the remaining months of the fiscal year as they plan to commence transshipment operations for capesize vessels at the anchorage point more frequently after October 15th. Due to limited river draught, large vessels like capesize cannot directly dock at Haldia or Calcutta. To address this issue, the port conducts transshipment operations, which involve unloading cargo from large ships to smaller ones using floating cranes mounted on vessels at the Sandheads. These operations are typically more active post-monsoon when the sea is calmer, although efforts are being made to make them year-round. In FY23, Syama Prasad Mookerjee Port achieved a historic high by handling 65.66 million tonnes of cargo, marking a 12.87 percent growth over the previous fiscal year. During the first half of fiscal year 2023, the port recorded an 11.72 percent increase compared to the same period in fiscal year 2022.