India's Major Ports Report 3.75% Increase in Cargo Traffic in May, Led by Visakhapatnam Port's 22.05

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Cargo traffic across major ports rises over 3% to 72.04 million tonnes in May

Team FS

04/Jun/2024

Key Points:

Cargo traffic at India's major ports grew by 3.75% in May, totaling 72.04 million tonnes.
Visakhapatnam Port recorded the highest growth at 22.05%, followed by Chennai Port at 9.10%.
Deendayal Port handled the highest volume, with a 17.64% share of total cargo traffic.

Cargo traffic across 12 major ports in India witnessed a 3.75% year-on-year increase in May, totaling 72.04 million tonnes (MT). This growth was driven by positive performance at nine ports, with Visakhapatnam Port leading the way with the highest cargo growth of 22.05%, followed by Chennai Port at 9.10%, Cochin Port at 7.78%, and Mumbai Port at 5.89%.

The data, released by the Indian Ports Association (IPA), revealed significant variations in cargo handling among the major ports. While some ports experienced substantial growth, others faced declines. Among the major ports, Deendayal Port handled the highest traffic volume in May 2024, commanding a 17.64% share of the total cargo across 12 ports. Paradip Port, Visakhapatnam Port, Jawaharlal Nehru Port, and Mumbai Port also contributed significantly to the overall cargo traffic.

However, not all ports shared in this growth. Ports such as SMP, Kolkata Port, and Kamarajar Port witnessed declines in cargo handling. These declines were attributed to factors such as reductions in coal and fertilizer shipments. This highlights the varied performance and challenges faced by different ports.

The IPA's report provides valuable insights into the dynamics of cargo handling across India's major ports. It reflects both growth opportunities and challenges within the maritime sector. The positive trends at ports like Visakhapatnam and Chennai underscore the robust infrastructure and strategic initiatives in place, fostering growth and efficiency in cargo handling.

In contrast, the declines at ports like Kolkata and Kamarajar indicate areas needing attention, possibly requiring strategic interventions to address the specific challenges they face, such as fluctuating demand for certain commodities and operational inefficiencies.

Overall, the 3.75% increase in cargo traffic is a promising sign for the Indian maritime sector, showing resilience and capacity for growth. The performance of ports like Visakhapatnam and Chennai can serve as benchmarks for other ports aiming to enhance their cargo handling capabilities. The focus moving forward should be on optimizing operations, investing in infrastructure, and addressing commodity-specific challenges to sustain and further this growth trajectory.

Visakhapatnam Port's exceptional growth, in particular, sets a positive example, reflecting effective management and strategic development. As India's economy continues to grow, the role of major ports in facilitating trade and commerce becomes increasingly critical. The insights from the IPA's report can help stakeholders understand current trends and make informed decisions to boost the performance and competitiveness of India's maritime sector.

Also Read : Union Textiles Ministry to Grant Rs. 50 Lakh Each to 150 Startups for Advanced Technical Textiles

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Cargo traffic across major ports rises over 3% to 72.04 million tonnes in May

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