Tuesday, January 19, 2021

Port volumes yet to fully recovery, says Ind-Ra

- Advertisement -

India might impose retaliatory import tariffs on 29 US itemsNew Delhi, Nov 29 (IANS) India’s port volumes are yet to recover fully from the Covid-19 pandemic-induced trends such as shortage of containers amid a demand-supply imbalance, says India Ratings and Research (Ind-Ra).

In a report on India’s logistics sector, the ratings agency said that in October 2020, India’s port volumes continued the recovery momentum with a month-on-month (MoM) increase of 5 per cent.

“While port volumes maintain the recovery momentum, they are yet to recover fully. During April-October 2020, the overall volumes fell 12 per cent YoY (year-on-year), the report added.

“The recovery in October 2020 was led by strong growth in fertilisers, coal and iron-ore volumes. Except petroleum, oil, lubricants and other liquids, all commodity volume registered growth in October 2020.

It pointed out that container freight rates remained elevated with a substantial increase of nearly 70 per cent during March-October 2020 due to the shortage of containers amid a demand-supply imbalance.

READ ALSO:  120 applications from 15 firms for pvt train ops: Railways

Besides, the report revealed that the port dwell time for import containers at Jawaharlal Nehru Port Trust (JNPT) witnessed a monthly improvement to 19 hours in October 2020.

“The port dwell time for export containers remained at nearly 78 hours in October 2020, it said.

The road transportation has witnessed traction with an improvement in the economic activities, the report added.

“E-way bill collection at 64 million in October 2020 grew 12 per cent MoM and 21 per cent YoY and stood 12 per cent higher than pre-Covid level, the report said.

“Average freight rates remained flat in October 2020. Diesel prices though declined to nearly Rs 70.5 per litre in October from Rs 70.6 per litre in September 2020.

In terms of railway sector, the report said the market share of this sub-segment increased in October to 22 per cent for export containers and 21 per cent for import containers, possibly due to tariff rationalisation initiatives such as discount on containers taken by Indian Railways to boost freight operations.

READ ALSO:  ‘FELUDA’ test to roll out in next few weeks: Harsh Vardhan
READ ALSO:  Shopping centres body seeks reopening of malls

The air transport remained the most affected, the report added.

“Since reopening in June 2020, both domestic and international air traffic continued to sequentially improve in September 2020, the agency said.

“Domestic passenger traffic rose 40 per cent in September 2020, though was down 65 per cent YoY while international passenger traffic rose 12 per cent, though remained down 88 per cent YoY.

“Passenger load factors for domestic flights ranged from 58-73 per cent during September 2020. Freight traffic continued to improve in August. Domestic and international freight traffic was up 26 per cent and 12 per cent MoM, respectively, in September 2020.


India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News


Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

Trending News In India

Trending Showbiz

Trending Sports

Latest Trending News In India

Covid-19 vax: WHO warns of ‘catastrophic moral failure’

Geneva, Jan 19 (IANS) The world faces a "catastrophic moral failure" because of unequal Covid-19 vaccine policies, the head of the World Health Organization...

SC asks Centre to share policy for declaring public holidays

New Delhi, Jan 18 (IANS):The Supreme Court on Monday asked the Centre to share its policy for declaring public holidays. The observation was made...

Talks between govt, farmer leaders postponed to Jan 20

New Delhi, Jan 19 (IANS) The Union Ministry of Agriculture and Farmers Welfare on Monday said that the meeting between a group of ministers...

Stalin first choice for CM’s post in Tamil Nadu

New Delhi, Jan 18 (IANS) DMK's M.K. Stalin is the first choice of the people of Tamil Nadu for the post of Chief Minister...