InvestorQ : How are the cues from the cargo traffic for the month of November 2020?
diksha shah made post

How are the cues from the cargo traffic for the month of November 2020?

3 years ago

The first reaction is that the cargo volumes continue to lag in the month of November 2020 too. However, two things must be remembered. Firstly, the fall is much lower compared to previous months. Secondly, this data only covers government ports and not private ports.

As per report put out by the Indian Ports Association, the cargo traffic for November 2020 fell for the eighth month in succession as port volumes struggled to pick up from the effects of COVID-19. In fact, cargo at the top-12 ports in India fell by 10.53% yoy to 414.30 MT during the 8-month period between Apr-20 and Nov-20.

Among the major ports, Mormugao in Goa was the only Indian port to witness 17.6% positive growth in cargo volumes with all the other major ports recording fall in volumes. Volumes at the crucial Kamarajar Ennore port dipped by 29.7% to 14.46MT in the period.

Meanwhile, other ports like Chennai, Kochi and Mumbai also saw volumes dip by around 17% for the Apr-Nov period on a yoy basis. JNPT, the huge cargo franchise based near Navi Mumbai, suffered a 15% fall volumes during the same period.

India currently has 12 major ports that are under the government and these 12 ports handle close to 61% of the total cargo traffic annually. However, the recovery in cargo volumes was visible since Jun-20. The private port cargo volumes are not reported by IPA.