Indian Port Traffic Sees Upward Trend in June 2024
There’s positive news for India’s trade sector! According to the Indian Ports Association (IPA), cargo traffic across 12 major ports in the country increased by 6.8% in June 2024 compared to June 2023. This represents a significant jump, with the total cargo handled reaching 69.08 million tonnes (MT) this year, up from 64.69 MT last year.
This growth is particularly encouraging considering the previous year’s performance. In June 2023, only five out of these 12 ports saw an increase in cargo traffic, while the remaining seven experienced a decline. This year’s figures indicate a positive turnaround for many ports.
Last year, of the 12 ports under the control of the central government — only five ports saw an increase in cargo traffic while seven experienced a decline, as per IPA’s previous report.
The 12 major ports in India include — Deendayal (formerly Kandla), Mumbai, Jawaharlal Nehru Port (JNPT), Mormugao, New Mangalore, Cochin, Chennai, Kamarajar (previously Ennore), VO Chidambaranar, Visakhapatnam, Paradip, and Kolkata (including Haldia).
During the reported month, Jawaharlal Nehru Port in Maharashtra led in cargo handling growth with a 15.12 per cent increase, followed by Cochin Port at the same rate, Kamarajar Port at 10.70 per cent, Deendayal Port at 8.57 per cent, and New Mangalore Port at 8.53 per cent.
VO Chidambaranar Port and Paradip Port saw respective growth rates of 7.73 per cent and 7.41 per cent, according to IPA.
Last year, VO Chidambaranar Port experienced the highest decline with a 14.15 per cent drop in cargo traffic.
Let’s Break Down the Numbers:
The 12 major ports included in this report are:
- Deendayal (formerly Kandla)
- Mumbai
- Jawaharlal Nehru Port (JNPT)
- Mormugao
- New Mangalore
- Cochin
- Chennai
- Kamarajar (previously Ennore)
- VO Chidambaranar
- Visakhapatnam
- Paradip
- Kolkata (including Haldia)
Among these ports, several witnessed impressive growth:
- Jawaharlal Nehru Port (JNPT) in Maharashtra emerged as the leader with a remarkable 15.12% surge in cargo handling.
- Cochin Port followed closely with an identical 15.12% increase.
- Kamarajar Port also displayed strong growth at 10.70%.
- Deendayal Port and New Mangalore Port saw significant increases of 8.57% and 8.53% respectively.
Positive Growth Continues:
The good news doesn’t stop there. Several other ports registered notable growth:
- VO Chidambaranar Port and Paradip Port achieved growth rates of 7.73% and 7.41% respectively.
- Syama Prasad Mookerjee Kolkata Port (SMP Kolkata Port) witnessed a 6.66% rise in traffic handling.
- Chennai Port experienced a 6.09% increase.
- Mormugao Port also saw a positive trend with a 3.75% growth.
Not All Ports Saw Growth:
While the overall trend is positive, it’s important to acknowledge that two ports underperformed compared to June 2023:
- Mumbai Port unfortunately witnessed a 6.59% decline in cargo traffic.
- Visakhapatnam Port also experienced a slight dip of 0.27% year-on-year.
Looking Ahead:
The significant increase in cargo traffic at major Indian ports in June 2024 indicates a potential boost for the country’s trade activity. This positive trend suggests an improvement in economic activity and increased movement of goods.
Further analysis is needed to understand the reasons behind the growth at specific ports and the decline at others. It will be interesting to see if this trend continues in the coming months and how the ports address any challenges faced by Mumbai and Visakhapatnam.
