Published on 17/03/2017 3:20:36 PM | Source:  Emkay Global Financial Services Ltd

Ports - The February PORTfolio - Emkay

Posted in Broking Firm Views - Sector Report | #Shipping and Logistics Sector #Emkay Global Financial Services Ltd. #Sector Report


The February PORTfolio

* Major Indian ports handled 50.9mn tons of cargo in the month of February 2017, clocking a growth of 0.4% YoY, however, declined 5.9% MoM. The major growth drivers were iron ore (+195% YoY) & others category (+27% YoY) while coal (-27% YoY), fertilizer (-45% YoY) & containers (-7% YoY) witnessed a decline

* Mormugao (+52% YoY), VOC (+22% YoY) & Paradip (+9% YoY) witnessed healthy growth in monthly volumes whereas Chennai (-13% YoY) & Ennore (-20% YoY) declined

* Coal traffic for February 2017 declined 26.6% YoY to 10.1mn tons, driven by a decline at Paradip (-31% YoY), Vizag (-59% YoY), Ennore (-23% YoY) and Haldia (-42% YoY) on the East coast and New Mangalore (-35% YoY) on the West coast

* Container traffic for February declined 7.1% YoY to 0.63mn TEUs, driven by volume decline at JNPT (-9.5% YoY), Chennai (-10.2% YoY) and Kolkata (-9.8% YoY)

 

Coal handled at major Indian ports down 26.6% YoY in February 2017

* Coal traffic for February 2017 declined 26.6% YoY to 10.1mn tons, driven by a decline at Paradip (-31% YoY), Vizag (-59% YoY), Ennore (-23% YoY) and Haldia (-42% YoY) on the East coast and New Mangalore (-35% YoY) on the West coast.

* In YTDFY17, coal traffic at major Indian ports declined 9.3% YoY to 128mn tons as East coast ports declined 12% YoY (71% share in total volume). All the ports on the East coast posted a coal volume decline led by Vizag (-25.1% YoY) and Paradip (-9.2% YoY).

* While, West coast ports also declined 1.6% YoY in YTDFY17 led by Mumbai (-15.7% YoY) and Mormugao (-5.6% YoY). 

 

Container traffic at major Indian ports down 7.1% YoY in February 2017

* Container traffic for February declined 7.1% YoY to 0.63mn TEUs, driven by volume decline at JNPT (-9.5% YoY), Chennai (-10.2% YoY) and Kolkata (-9.8% YoY).

* In YTDFY17, container traffic at major Indian ports grew 2.7% YoY to 7.7mn TEUs. Vizag (+26.7% YoY, 4.3% share in total volume), Cochin (+17.1% YoY, 5.8% share in total volume) and Kolkata (+9.9% YoY, 7.6% share in total volume) were the major growth drivers.

* Two of the largest Indian container ports, JNPT (-0.4% YoY, 53.4% share in total volume) and Chennai (-4.1% YoY, 17.8% share in total volume) have exhibited subdued performance in YTDFY17.

 

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