February port volumes slip on month-on-month basis

February port volumes slip on month-on-month basis

Following eight months of sequential improvement, cargo traffic at the major ports contracted by 9% on m-o-m basis in February, though it was up 2% y-o-y.

This could be attributed to the renewed restrictions amid the surge in Covid-19 infections, especially in the advanced economies, CARE Ratings has said.

For the April-February period of the current fiscal, traffic has declined by 7% y-o-y at the major ports.

Coal volumes have declined by 17%, POL by 14% and container traffic by 5% in 11MFY21.

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