Sep 13, 2011 11:56 AM IST | Source: Moneycontrol.com

Cargo growth momentum continues in August: Motilal Oswal

Motilal Oswal has come out with its report on Indian ports.

Cargo growth momentum continues in August: Motilal Oswal

Motilal Oswal has come out with its report on Indian ports.

Container cargo up 16.4% YoY; Mundra Port contributes 26% of non-coking coal imports:

Cargo growth momentum continues: In August 2011 cargo traffic at major Indian ports was 44.3mt, up 3.6% YoY, maintaining the growth momentum in fiscal FY12. In YTD FY12, total cargo volumes grew 4.6% YoY to 237mt, driven by liquid and container cargo, which reported growth of 7.8% and 9% respectively. Solid cargo growth was muted at 0.6% YoY, as fertilizer and iron-ore cargo volumes de-grew 22.2% and 32.3% YoY respectively. A ban on iron-ore exports continues to be a drag on volume growth.

Container cargo grows in August, followed by coal, POL: Container cargo in August grew 16.4% YoY to 9.7mt, and is up 9% YoY to 49.4mt in YTD FY12. August cargo volumes were driven by container cargo, followed by coal and POL. Coal cargo volumes grew 9.1% YoY to 6.2mt, accounting for 13% of all-India cargo volume. POL volumes grew 8.6% to 15mt. Volume growth was offset by de-growth in fertilizer and iron ore volumes.

Container cargo traffic at JNPT up 20% YoY v/s all-India container traffic growth of 16.4%: August container cargo volumes at JNPT increased 20% YoY to 4.6mt and all-India container traffic was up ~16.4% YoY at 9.7mt. In YTD FY12, container cargo in India was boosted by cargo volume growth at JNPT of 23.6mt, up 5.3% YoY and at Chennai port, where container volumes were up 6.5% YoY at 13mt.

Coal cargo grew 9% YoY, driven by non-coking coal growth of 10.6% YoY: August coal cargo grew 9% YoY to 6.2 mt, mainly due to imports of non-coking coal, which grew 10.6% YoY. Coking coal imports declined 12% YoY. During April to June 2011, Vizag port accounted for 36% of India's coal imports, followed by Murmugao and Paradip at 19.8% and 17% respectively of India's coal imports. Mundra port accounted for 26.4% of India's non-coking coal imports, followed by Vizag and Paradip at 16% and 13% respectively of India's non-coking coal imports.

Nine ports post cargo traffic growth in August, Ennore posts highest growth of 31%: In August, nine major ports posted cargo growth, of which Ennore and JNPT were up 31% and 23% respectively. At these ports, volume was boosted by POL and container traffic respectively. Cochin port volumes grew 21% YoY to 1.8mt, driven by POL cargo. Mormugao port posted highest de-growth in cargo volumes, led by POL and iron-ore cargo.

Non-Institutions holding more than 90% in Indian cos

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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

Sections
Follow us on
Available On