The 12 major, state-owned ports of India, which handle 70% of India’s import-export traffic, are increasingly feeling the global slowdown with cargo volumes spiralling southwards. In October this year, the dozen ports handled a total traffic of 42.18 million tonnes compared with 44.49 million tonnes in the same month last year. A drop in port cargo handling also translates into financial loss for the ports. According to a senior Kolkata Port Trust (KPT) official who did not wish to be named, Indian ports earn an average Rs 50 per tonne of cargo they handle.
Volumes fell the most in commodities led by iron ore, which saw a 6% decline year-on-year between April and October, mainly because China went into slow-grind mode.
The number of containers handled -- these are used to transport packaged goods -- saw a modest 5.9% growth at 2.37 million TEUs (twenty-feet equivalent units, which refers to the size of a container) between July and October 2008, compared with the same period last year, while export-import of petroleum, oil and lubricants remained stagnant.
The decline in volumes began in July this year, before which ports actually recorded growth in traffic.
Because of this, the cumulative traffic for the year has increased by 7.2%.
According to figures from Indian Ports Association, which represents the 12 major ports, this is still 0.12% short of the 7.32% growth target set by the government.
For the fiscal year 2009, the ministry of shipping, road transport and highway has set a target of 579 million tonnes to be achieved by these ports.
Volumes fell the most in commodities led by iron ore, which saw a 6% decline year-on-year between April and October, mainly because China went into slow-grind mode.
The number of containers handled -- these are used to transport packaged goods -- saw a modest 5.9% growth at 2.37 million TEUs (twenty-feet equivalent units, which refers to the size of a container) between July and October 2008, compared with the same period last year, while export-import of petroleum, oil and lubricants remained stagnant.
The decline in volumes began in July this year, before which ports actually recorded growth in traffic.
Because of this, the cumulative traffic for the year has increased by 7.2%.
According to figures from Indian Ports Association, which represents the 12 major ports, this is still 0.12% short of the 7.32% growth target set by the government.
For the fiscal year 2009, the ministry of shipping, road transport and highway has set a target of 579 million tonnes to be achieved by these ports.