Container volumes at non-major Indian ports registered a combined compound annual growth rate (CAGR) of 20 per cent to 4.5 million TeUs (twenty-foot equivalent units) over the last five years as against CAGR of 2 per cent to 8.4 mn TeUs by major ports from 2012-2017, ICRA said today.
So, major ports have under-performed when compared to non-major ports during the 2012-2017 period, the rating agency said.
"This under-performance can be attributed partly to delays in capacity additions at major ports, especially, on the western coast, where nearly the entire incremental volumes have been absorbed by non-major ports," K Ravichandran, Senior Vice-President and Group Head, Corporate Ratings, ICRA, was quoted as saying in a statement.
Besides, non-major port operators have been diligently pursuing the the container lines with better rates and service levels, Ravichandran said.
Nevertheless, major ports continue to account for a majority of the containers handled at about 65 per cent, albeit on a declining trend, and offer a significant opportunity for port logistics players, Ravichandran added.
Going ahead, Ravichandran said, commissioning of capacity additions ports, including Ennore, would amount in should result in some shift back to major ports and support volume growth for the port logistics players operating at major ports.
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