India’s 12 major ports observe 4.45% cargo volume growth in FY24

According to the Ministry of Ports, Shipping and Waterways, major ports collectively handled 12.310 million TEUs, up 8.06% from FY23’s 11.392 million TEUs. Jawaharlal Nehru Port Authority led the way by managing 6.43 million TEUs, over half of the total volume. Petroleum, oil, and lubricants (POL) cargo increased 5.06% to 245.990 mt from the previous year’s 234.137 mt. Iron ore shipments surged 32.68% to 61.031 mt, raw fertilizer shipments rose 13.56% to 9.406 mt, and coking coal and other coal movements increased 10.24% to 64.939 mt. Moreover, Paradip Port Authority led cargo handling among major ports, reaching 145.379 mt in FY24, up 7.40% from the previous year’s 135.362 mt.
India’s Ports and Shipping sector has been on a remarkable upswing lately. Whether it’s the external trade, expanding ports’ capacity, or the 7,517 kilometers of coastline dotted with over 200 ports, the growth has been undeniable. And recently, the performance of the 12 major ports under the Union government’s ownership saw an uptick in cargo handling. In FY24, these ports collectively managed a staggering 819.227 million tonnes (mt) of cargo, marking a 4.45 percent increase from the previous year’s 784.305 mt. With India’s ports handling approximately 95% of the nation’s international trade volume, this surge in growth signals a new era of efficiency for the industry.

What 2024 has seen so far?