Iron-ore traffic at major ports dropped by half, while handling of finished fertiliser declined by 33 per cent in the first nine months of the current financial year. The poor throughput of these two cargoes led to a 3.09 per cent drop in cargo traffic at major ports during this period.
Ban on iron-ore exports from Karnataka was the main reason for the drop in iron-ore handling. The drop in handling of di-ammounium phosphate (DAP) and muriate of potash (MoP) pulled down the finished fertiliser traffic.
Sales of both DAP and MoP were down in the last few months, and there is a huge inventory lying with various companies, said K. Ravichandran, Senior Vice-President, ICRA Ltd.
The global economic slowdown also hit cargo throughput at the ports. Out of the eight cargo categories, only three — thermal coal; petroleum, oil and lubricants; and other cargo — grew. The rest of the cargoes, including finished fertiliser, raw fertiliser, coking coal and container, saw a sharp decline in throughput.
“We may not see a significant change in the cargo handling in the next quarter,” said an official of a large logistics company who is not authorised to speak to the media.
The Ennore port saw the highest growth mainly on account of the increase in handling of thermal coal. The port benefitted from the Madras High Court ruling to move thermal coal to Ennore from Chennai.