India: January Cargo traffic falls 5.3%, led by ban on iron ore exports
Thursday, 23 February 2012 | 00:00
Motilal Oswal has come out with report on January 2012 cargo traffic. The same is as follows: Cargo volumes
continue to decline:
Cargo traffic at India`s major ports fell 5.3% YoY to 48.9 million tons in January 2012. For YTD FY12, cargo volumes dipped 0.2% YoY to 467 million tons. We believe the decline is due to the ban on iron ore exports (iron ore exports plunged 57.4% YoY to 4.3 million tons).
Container cargo volumes up, followed by coal and POL:
Container cargo volumes in January 2012 grew 1.2% YoY to 10.7 million tons, and up 8% YoY to 100.6 million tons in YTDFY12. Cargo volumes, ex-iron ore, were driven by container cargo, followed by coal and POL. Coal cargo volumes grew 2.8% YoY to 6.9 million tons (this accounts for 14% to all-India cargo volume), while POL volumes grew 4.4% to 16.5 million ton. Growth in these categories was off-set by the steep decline in iron ore cargo. Iron ore cargo volumes stood at 4.3 million tons , down 57.4% YoY, led by the ban on iron ore exports.
Container cargo traffic at JNPT grew 10% YoY:
Container cargo volumes at JNPT grew 10% YoY to 5.3 million tons in January 2012. Apart from JNPT, all India container cargo volumes increased 11.2% YoY, was boosted by Chennai port (up 6% YoY to 2.7 million tons).
Eight ports posted cargo traffic growth in January 2012; Ennore posted highest growth of 52.3%:
Eight major ports posted positive cargo growth during the month. Cargo traffic grew 52.3% at Ennore and 9.6% at Tuticorin. Volumes at these ports were boosted by coal cargo. Also, at the New Mangalore port, volumes grew 10% YoY to 2.7 million tons, driven by POL, container and fertilizer cargo. Haldia port reported the highest de-growth in cargo volumes at 40% YoY.
Coking coal imports grew 51% YoY; non-coking coal imports up 32% YoY (November 2011):
Coking coal imports grew 51% YoY to 2 million tons (v/s 1.3 million tons in November 2010), primarily due to the increase in steel production in Nov-11. Non-coking coal imports grew 32% YoY to 2.5 million tons from 1.9 million tons in November 2010).
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