Motilal Oswal report on Indian Ports

Motilal Oswal Financial Services has come out with its report on Indian Ports

October 2009 cargo at major ports up by 10% YoY; Kolkata port registers highest increase of 73%YoY in cargo traffic.

October 2009 cargo volume up 10% YoY: In October 2009, cargo traffic at major ports in India improved by 10% YoY to   46.7m tons (vs 42.2m tons YoY). The increase in cargo traffic is due to base effect, as de-growth in cargo traffic was first   witnessed in Oct-08, on the onset of global meltdown in trade. For YTDFY10, cargo traffic grew by 3.5% YoY to 314.6m   tons (vs 303.9m tons YoY). 

Iron Ore, POL cargo are key drivers: For the month of October 2009, iron ore cargo grew by 67% YoY to 8.3m tons (vs   5.0m ton in October, 2008), while POL cargo grew by 1.6% YoY to 15m tons. Container cargo recorded 1.4% YoY   increase to 7.9m ton, owing to lower base effect. Coal and Fertilizers cargos however declined by 3% and 29% YoY,   respectively. During YTD FY10, Coal, fertilizer and container cargo declined by 18%, 2% and 1% YoY, while Iron ore and   POL cargo grew by 12% and 2%, respectively. Decline in fertilizer  

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment