October 2010 cargo at major ports de-grew 3.8% YoY: Motilal Oswal

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INFRA-PORTS: October 2010 cargo at major ports de-grew 3.8% YoY; Iron ore, POL cargo drags ports volume

In October 2010, cargo traffic at major ports stood at 44.8mt (YoY down by 3.8%). YoY fall in the volume is due to fall in the exports in the country in October month.  

  

All-India Iron ore cargo de-grew by 16% to 6.8m ton as State of Karnataka continued its ban on export of iron ore. (Karnataka is second largest producer of iron ore in India; Karnataka ban is to curb illegal mining in the state).  

JNPT container cargo traffic grew 22% YoY to 4.8mt for October month and all-India container traffic was up 20% YoY at 9.5mt. Container cargo in Chennai was up 30% YoY to 2.6m tons, Tuticorin registered growth of 22% and Kolkata was down by 6%.

In October 2010, seven ports posted traffic growth, of which Mormugao and JNPT were up 32%, 22% respectively. At these ports, volume was boosted by Coal and container category respectively.