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Visakhapatnam Port is all set to retain fifth slot in the country by either surpassing or finishing close to last year’s cargo of 58 million tonne by March 31.
The market is very dull this time. All the major and non-major ports in the East Coast have handled five per cent less cargo than the previous year whereas we have so far recorded 1.3 per cent less, Visakhapatnam Port Chairman M.T. Krishna Babu told. The reason for the dismal scenario despite capacity addition by some ports is attributed to almost nil steel exports after China flooded the domestic markets with cheap products following glut and drastic fall in coking coal imports. Due to situation in China, exports of iron ore fell steeply. Container traffic has gone up by five lakh tonne. Other commodities like break cargo went up by two million. “All this made it possible to put up a reasonably good performance by us, Mr. Krishna Babu pointed out. Visakhapatnam Port is subjected to stiff competition from private ports like Gangavaram as they have slashed the charges substantially due to slump in economy.
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