Major ports witness steep 21 per cent volume contraction in April 2020
01 Jun 2020
The Indian port sector has been adversely impacted by the COVID-19 outbreak and the subsequent lockdown. Although the sector has been classified under essential services and has remained operational during the lockdown, the impact on domestic economic activity as well as slowdown in global trade has resulted in steep contraction in cargo volumes at the major ports in April 2020, with throughput decline of 21 per cent, according to ratings agency ICRA. While the decline was across all major cargo categories, POL, thermal coal and container segment witnessed significant contraction. The outlook for the port sector remains negative in the near to medium term.
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