NEW DELHI: World trade has been low. India’s exports and imports have dipped. Yet, the goods moved by the country’s major ports have surged in 2015-16. Consider this: The monthly cargo traffic at major ports has risen steadily from a low of 46.85 million tonnes in September 2015 to 52.22 million tonnes in January 2016, nudging up to the record 53.72 million tonnes moved in March 2015. The cargo handled between April 2015 and February 2016 was 27 million tonnes more than in the same period of FY 15. Seven of the 12 major ports reported traffic growth in January 2016.
Surprisingly, the growth has been in an environment of slowing external trade. Global merchandise trade fell from $1,521 billion in November 2014 to $1,124 billion in February 2016. India’s exports and imports too shrank in this period.
Manish Sharma, Partner – Infrastructure, PwC, thinks the jump in cargo traffic in FY16 over the previous fiscal was due to a growth in bulk traffic at Kolkata, Haldia, Paradip, Mormugao and Kandla. “The key reasons for growth are an increase in coal shipments (coastal and imports), restart of iron ore exports (from mid-year) and increase in edible oil imports.” But, he says, “Five months is not a significant period to suggest a trend as seasonal changes and global externalities can have a big impact on such short time periods.”
While there has been a definite improvement in the cargo handled, major ports continue to operate well below their capacity. The traffic handled between April 2015 and January 2016 was 522 million tonnes, while the ports have a capacity to handle 893 million tonnes.
