The political turmoil and fuel crisis in Sri Lanka are turning out to be an opportunity for ports in South India, which are seeing a surge in traffic.
Industry bodies said at least 10 per cent of normal cargo is being diverted from Sri Lanka to Indian ports due to multiple reasons like congestion and shortage in fuel availability.
ICTT has seen a 37 per cent surge in transhipment and 14 per cent rise in container traffic
Kochi International Container Transhipment Terminal (ICTT) in Vallarpadam has seen a 37 per cent surge in transhipment and 14 per cent rise in container traffic during the first three months of the financial year.
A similar rise has been seen in the traffic of Ennore and VO Chidambaranar, too, which was 25 per cent and 16 per cent, respectively.
Non-availability of fuel is the basic issue in Colombo
“A good chunk of the normal cargo is getting diverted to Cochin and Chidambaranar port in Thoothukudi. Non-availability of fuel is the basic issue in Colombo. However, this is an opportunity for the Indian ports,” said S Narasimhan, president, India-Asean-Sri Lanka Chamber of Commerce and Industry.
Under normal conditions, Colombo port used to handle over 30 per cent of India’s container traffic and 60 per cent of its trans-shipment.
12 major ports across the country have seen an average 9 per cent increase in traffic.
During the first quarter of the current
financial year, 12 major ports across the country have seen an average 9 per
cent increase in traffic. Several ports, including Ennore, Chidambaranar,
Cochin, Paradip, Mumbai and Jawaharlal Nehru Port Authority (JNPA) saw
double-digit growth during the quarter under review. Among commodities, coal
saw around 19 per cent rise, while container traffic grew by an average 5 per
cent across all the ports.