India ports at sea: Cargo handling sinks as coronavirus scuttles economies

Cargo handling at major ports grew 2.8% in FY19, but it grew just 1.4% in FY20 till February end

Cargo handling at the country’s ports may fall to 10 per cent-12 per cent of capacity this fiscal as the coronavirus pandemic forces countries to lock down and demand in India’s economy sinks.

Cargo handling at major ports grew 2.8 per cent in FY19, but it grew just 1.4 per cent in FY20 till February end.

Cargo volumes in FY21 will decline primarily because of flagging demand for crude oil during the pandemic. A study by CARE Ratings forecasts a dip of 5.1 per cent in India’s crude oil imports in FY21. Liquid cargo inclusive of crude oil and petroleum products accounted