Home / Companies / News / Covid impact: Indian ports to see 5-8% slump in cargo volumes in FY21

Covid impact: Indian ports to see 5-8% slump in cargo volumes in FY21

Overall cargo throughput shrinks by 22% during lockdown month at major ports. Steep decline in petroleum products & liquid cargo, thermal coal and containers

Premium

Despite the port sector being considered an essential service and continuing to remain operational during the lockdown, there has been an adverse impact on the cargo.

Jayajit Dash Bhubaneswar

3 min read Last Updated : Jun 29 2020 | 6:18 PM IST

As a fallout of the Covid pandemic and lockdown enforcement, cargo volumes at Indian ports are expected to moderate by five to eight per cent in this fiscal. In case of containers, the slump is expected to be sharper at 12-15 per cent, as per the forecast by ratings agency Icra.

Due to the impact of the pandemic and the nationwide lockdown enforced to check the spread of the contagion during April-May this year, overall cargo throughput contracted by 22 per cent at major ports. Steep decline was noticed in cargo segments like POL (petroleum products & liquid cargo), thermal coal

Topics : Coronavirus Lockdown Indian ports Cargo traffic

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in