Port cargo traffic growth in November slows to 3% amid trade slowdown

Flat cargo numbers since Q2 drag total FY23 growth down to 8.8%

State-owned ports handled 1.9 million tonnes (mt) of cargo in November, or just about 3 per cent more than last year, as international trade volatility and freight costs continued to dampen traffic at these ports, Indian Ports’ Association (IPA) data showed.

India’s 12 major ports recorded a combined traffic of 61.3 mt in November, even as many hoped that the festive months would give a fillip to the logistics sector.

Experts believe the slowdown in international trade has been the biggest factor behind this, and expect the slow momentum to continue in the near-term, with only minor increases or decreases