Private ports outpace central peers in FY24

Register double-digit growth; coastal cargo major booster for private ports

- DHRUVAKSH SAHA

India's private ports continued to outperform those owned by the central government in 2023-24 (FY24), registering double-digit growth compared to 4.45 per cent growth for major ports, according to the Ministry of Ports, Shipping and Waterways data.

At 721 million tonnes (mt), non-major ports saw their cargo increase by 11.18 per cent year-on-year in the previous financial year. In contrast, major ports ended FY24 handling 818 mt of goods.

Major ports are those owned by the central government through the Ministry of Ports, Shipping and Waterways, while non-major ports are owned by state governments and private players.

The growth for non-major ports was primarily led by thermal coal, which accounts for 7 per cent of the total volumes of these ports. At 51 mt, thermal coal cargo grew by 53 per cent in the previous financial year.

Iron ore, after a subdued 202223, also grew by 44 per cent in FY24. For major ports, growth primarily came through crude oil (5.05 per cent up), thermal coal (up 4.72 per cent), and iron ore (28 per cent).