Last month, the total volume of containers leaving 12 significant government ports fell to 893,000 TEUs from 944,000 TEUs a year earlier, a 5.4% decline. With 892,000 TEUs reported in September, volumes were practically flat month over month.
On the other hand, the port of Nhava Sheva (run by the Jawaharlal Nehru Port Authority) slightly increased its throughput from 476,000 TEUs in October 2021 to 496,000 TEUs.
With 125,000 TEUs at the end of last month, Chennai Port in southern India saw a significant drop from 154,000 TEUs a year earlier.
Container throughput at Cochin Port, which runs Vallarpadam Terminal or DP World Cochin, India’s only specialized transshipment facility, dropped to 55,000 TEUs from 67,000 TEUs in October 2021.
Volumes at Tuticorin Port (V.O. Chidambaranar) also decreased, falling to 53,000 TEUs in October 2021 from 63,000 TEUs.
According to the data, Visakhapatnam Port only handled 28,000 TEUs in December, compared to 43,000 TEUs in the same month in 2021.
The volume at Ennore Port, now known as Kamarajar Port, dropped to 36,000 TEUs in October from 40,000 TEUs in the same month last year.
On a month-over-month basis, several smaller ports, such Kandla (Deendayal Port), also reported traffic reductions in the previous month.
There is pressure on capacity utilization at Adani Ports (APSEZ), which operates a network of small non-government terminals on India’s east and west coastlines. The group reported flat growth from April through September, the first half of the fiscal year 2021–22, moving a total of 4.23 million TEUs, up just 3% from 4.11 million TEUs the previous year.
According to information provided by the business, 3.28 million TEUs of this were handled by APSEZ’s flagship Mundra Port.
The decrease in volume is due to a slowdown in India’s export and import activity as a result of adverse global economic conditions.
According to A. Sakthivel, president of the Federation of Indian Export Organizations (FIEO), “the slowdown in exports is a reflection of the toughening conditions of the global trade facing demand slowdown on account of high inventories, rising inflation, economies entering recession, high currency volatility, and geopolitical tensions.”
The fall in exports of engineering items, clothes, and textiles is particularly concerning, as these industries are crucial to creating a significant amount of jobs, according to FIEO.
“We should not draw comfort from the fact that exports of most economies are experiencing contraction,” continued FIEO. In the absence of a significant improvement in the geopolitical situation, the upcoming few months would be quite difficult.
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