Ports Sector Update - Downside Risks Alongside Recovery: CARE Ratings
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CARE Ratings Report
Cargo volumes handled at the Indian ports in FY21 declined owing to the demand as well as supply chain disruptions brought about by the pandemic.
The year was characterised by upheavals in cargo movement globally.
Congestion at some ports and shortage of vessels and containers at others led to imbalances, resulting in time and cost overruns.
The fall in economic activity and global trade has had a direct bearing on the cargo traffic handled at the Indian ports.
Following the sharp decline during April-August 2020, there has been a progressive improvement in the volume of cargo traffic at the major and non-major ports of the country.
The recent spike in Covid-19 infections in the country and the consequent reimposition of lockdowns and restrictions in various regions have raised concerns over the sustainability of the rebound in cargo volumes.
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