Breaking News

You are here » Indian-Commodity  :  Economy  :  ICRA maintains stable year-end outlook for Indian port sector

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.


Related News

View all news

India's economy to grow at 7.5% in 2019, 7.7% in 2020: IMF

The International Monetary Fund (IMF) in its January World Economy Outlook update has said that India's economy is expected to grow at 7.5% in the 2019, keeping an upward trajectory as the rest of the......

India has potential to be $5 trillion economy in next 7-8 years: Suresh Prabhu

Expressing confidence over growth of Indian economy, Union Commerce and Civil Aviation Minister Suresh Prabhu stated that India has potential to be a $5 trillion economy in the next 7-8 years. He added......

Working group recommends measures to attain $5 trillion economy by 2025

In order to increase the size of India's economy to $5 trillion by 2025, a working group of the Commerce and Industry Ministry has come out with a blueprint suggesting a bunch of lengthy and short-term......

Top News

View all news

Coromandel International reports 14% fall in Q3 consolidated net profit

Coromandel International has reported results for third quarter ended December 31, 2018.The company has reported a fall of 15.23% in its net profit at Rs 152.67 crore for the quarter under review as compared......

Bajaj Auto planning to foray into electric vehicles next year

Bajaj Auto is planning to foray into electric vehicles (EV) next year, simultaneously with the migration of its conventional engine vehicles to BS-VI emission norms.The company also plans to launch electric......

Inflame Appliances, Lupin and IDBI Bank to see some action today

Inflame Appliances has set up a new facility to produce Electrical Chimneys & its parts, which can be considered as an 'Make in India' initiative as more than 90% Chimneys are imported from China......