Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The Union government's twelve principal ports handled 819.227 million tonnes (MT) of cargo in FY24, 4.45% more than the 784.305 MT handled the year before due to significant rises in shipments of iron ore, raw fertiliser, coking coal, and containers. Shipments of iron ore including pellets increased 32.68% to 61.031 MT in FY24 from 45.997 MT in FY23, according to the Ministry of Ports, Shipping and Waterways.
Raw fertiliser shipments rose 13.56% in FY24 to 9.406 MT from 8.283 MT in FY23. Coking coal and other coal movements surged 10.24% in FY24 to 64.939 MT from 58.907 MT the previous year. The dozen major ports handled a combined 12.310 million twenty-foot equivalent units (TEUs) in FY24 from 11.392 million TEUs in FY23, clocking a growth of 8.06%. Jawaharlal Nehru Port Authority handled 6.43 million TEUs or more than half of the total container volumes shipped through major ports. Petroleum, oil and lubricants (POL) cargo jumped 5.06% to 245.990 MT in FY24 from 234.137 MT the previous year.
Other liquid cargo registered a decline of 4.94% in FY24 to 30.871 MT from 32.476 MT a year earlier, finished fertiliser cargo decreased by 5.14% to 8.269 MT in FY24 from 8.717 MT a year ago. Thermal and steam coal shipments dropped 1.72% to 127.043 MT in FY24 from 129.261 MT in the previous year. Other miscellaneous cargo posted a decline of 6.37% to 90.109 MT in FY24 from 96.240 MT a year ago.
Paradip Port Authority took the pole position in cargo handled among major ports with 145.379 MT in FY24 compared to 135.362 MT a year earlier, posting a growth of 7.40%. Deendayal Port Authority, till last year the biggest state-owned port by cargo handled, posted a 3.77% decline in volumes during FY24 to 132.374 MT from 137.561 MT in FY23.
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