Declining coal imports a concern for port sector: ICRA

Continuing decline in coal imports is a concern over the long term for the port sector as several terminals are considerably dependent on dry fuel shipments, credit rating firm ICRA said today.
"The continuing decline in coal volumes, at a more rapid rate, as compared to the previous periods, is a concern over the long term for the port sector," ICRA Senior Vice-President and Group Head (Corporate Ratings) K Ravichandran said in a statement.
The prolonged drop in coal imports can affect returns of such players, the agency said.
In the April-August period of FY2018, the volume growth at major ports was low as coal volumes recorded 12 per cent decline during the said period.

Cargo throughput at Indian ports saw a growth of 5.7 per cent at 1,133 million tonnes (MT) during the last fiscal as against 1,072 MT in FY2015-16.
The port sector will continue to experience healthy growth in cargo in the near term, it said.