According to data from the Ministry of Ports, Shipping, and Waterways, India’s private ports continued to perform better than those owned by the central government in 2023–24 (FY24), showing double-digit growth as opposed to a 4.45% growth for major ports.
In the preceding fiscal year, non-major ports recorded an increase in cargo of 11.8% year over year to 721 million tonnes (mt). On the other hand, major ports handled 818 mt of goods at the end of FY24.
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The thermal coal freight increased by 53% to 51 mt in the preceding fiscal year. Following a quiet 2022–2023 season, iron ore increased by 44% in FY24.The main drivers of growth for major ports were thermal coal (up 4.72%), iron ore (up 28%), and crude oil (up 5.05%).
The Deendayal Port (Kandla) saw a 4.2% decrease in its cargo volumes at 131 mt, but the private ports under the Gujarat Maritime Board recorded a total gain of 7.9 percent. This was caused by a decrease in its international freight of over 5%.
When Adani Ports and Special Economic Zone released its combined FY24 and January-March results on Thursday, it reported a 28% rise in income and a 24% increase in cargo volumes.’
Private ports have profited from coastal shipping’s expanding potential in the interval. Coastal shipping increased by 15% at private ports last fiscal year, whereas it increased by just 1.97 percent at big ports.
