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06-Dec2018

ICRA maintains stable year-end outlook for Indian port sector

Rating agency ICRA has maintained stable year-end outlook for the port sector, in its year-end assessment, and stated that rebound in coal volumes and steady progress on the Sagarmala project are positive for Indian port sector players in the medium term.  The agency is expecting that the prospects for the Indian port sector players in the medium term will be favourable, supported by continuing healthy growth in cargo of major volume drivers - Coal, Crude and Containers.

It highlighted that coal imports, which had become a concern over the last 2 years, have been witnessing a rebound and could continue to with the momentum witnessed in first half of FY 2019, adding that demand revival from the power sector and key consumer industries will be critical for sustained pick-up in coal imports.

Besides, it expects that over the medium to long term, overall cargo growth will gain further traction, driven by domestic requirements of crude oil, for meeting domestic petroleum requirements; and containers, given the cost and logistical advantages associated with containerization. Moreover, it emphasized that the major ports are already being targeted for modernisation and efficiency improvement under the Sagarmala project. Over the last two years, there has been progress on the port capacity enhancement, efficiency improvement and port connectivity.


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