Indian ports are expected to record six to eight per cent growth in cargo volumes in FY19, backed by drivers like coal, crude oil and containers. Ports across the country handled 1209 million tonnes of cargo in 2017-18, achieving seven per cent over the previous year.
The sagging coal imports which had raised concerns for ports dependent on the dry fuel, have staged a rebound. The momentum in coal imports seen in the first half (April-September) of this fiscal is set to continue through the year, auguring well for the port operations.
In its outlook for the ports sector, ratings agency Icra said, “Demand revival from the power sector and key consumer industries would be critical for sustained pick-up in coal imports.
Icra expects that the revival in coal volume import growth would support the revenue growth for port players operating in the bulk segment in FY 2019 and healthy growth should continue in FY 2020 as well.” Read More