Major port cargo up 2% in Apr-Sept

State-controlled ports handled 277 MT of cargo against 270 MT during same period last fiscal

Cargo handled at India’s 12 major ports rose 2.3 per cent in the first half of this financial year, aided by a 44 per cent jump in power-grade coal imports. State-controlled ports handled 277 million tonnes (mt) of cargo in the April-September period, against 270 mt during the corresponding period last year.

Rising coal imports and the foreign exchange outgo come at a time when the government is struggling to cut its current account deficit (CAD), which stood at a record 4.8 per cent of gross domestic product in 2012-13.

Between April and September this year, iron ore cargo fell 34 per cent, while that for fertilisers fell 18 per cent. Petroleum oil lubricant imports rose four per cent. Containerised cargo saw a decline of five per cent.

“Cargo movement usually picks up after October. Now, we are expecting more salt and mineral exports. There should be an upward trend in cargo handling in the coming months,” said P D Vaghela, chairman, Kandla Port Trust.

Total coal imports at major and non-major ports jumped 32 per cent between April and August, according to data sourced from Delhi-based resource research firm Oreteam.

The rise in coal imports led to a foreign exchange outgo of $5.1 billion, a 13 per cent rise compared to the corresponding period last year.

The impact of high coal imports on the current account deficit was marginally offset by the decline in global coal prices, which fell an average 13 per cent to $73 a tonne during the period.

Last year, cargo handled during the April-September period rose just 1.8 per cent, owing to slowdown pressures and the overall decline in global trade.

Jawaharlal Nehru Port Trust, India’s largest container port, saw a decline of 5.26 per cent in cargo volumes, primarily because DP World and Gateway Terminals reduced the cargo handled at their respective terminals due to tariff-related issues. This aided non-major ports.