Wednesday 04 10 2023 09:40:55 PM

Office Address

123/A, Miranda City Likaoli Prikano, Dope

Phone Number

+0989 7876 9865 9

+(090) 8765 86543 85

Email Address

Indian ports witnessed a 4% decline in volume in July: Nomura
Dr.G.R.Balakrishnan Aug 25 2022 Indian Ports News

Indian ports witnessed a 4% decline in volume in July: Nomura

 Indian port volumes declined in July, led by a fall in exports of chemicals and engineering goods, according to an analysis of ports data by research firm Nomura.

However, the value of imports remained steady, even as India imported the same amount of coking coal at a 40% decline in value.

According to Nomura, overall, major Indian ports witnessed a 4% decline in volume in July, on a sequential basis.

Adani Ports, the largest commercial ports operator in the country, also witnessed a 2% decline in this period, but its volumes continue to account for half of India’s major ports volume.

While major ports volumes stood at 63.4 million tonnes, Adani Ports alone accounted for 31.2 million tonnes.

There’s positive news on the domestic logistics front, with container volumes for July surging 19.7% year-on-year, and 2.6% sequentially.

While the overall import-export volumes declined 8% sequentially, the railways’ export-import container volumes remained flat, suggesting that the government-owned service gained market share during July.

LPG consumption improves even as prices surge up to 30%

India’s overall LPG consumption witnessed an 8% year-on-year growth in July even as LPG prices surged up to 30% in this period. LPG companies managed to meet the demand despite a 6.7% decline in imports.

A closer inspection reveals that the domestic LPG demand for July declined 1.7% from a year earlier, while commercial consumption surged 11%. One of the reasons behind this could be companies gradually requiring employees to return to offices.

Overall, domestic gas prices in the period surged 26% from a year earlier, while commercial prices witnessed a 30% jump.