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Post demonetisation, cargo handled by 12 major ports in November and December has witnessed a significant growth by registering an increase of 11.2 per cent and 12.7 per cent, respectively. “Cargo handled by major ports after demonetisation has shown a growth in comparison to the same period last year,” Shipping Minister Mansukh Lal Mandavia told Rajya Sabha in a written reply today.
Mandavia said the ports handled 56.7 MT of cargo in December 2016 (12.7 per cent growth) and recorded 54 MT cargo in November (11.2 per cent growth).
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During April-October 2016 period, these ports handled 370 million tonnes (MT) cargo.
The major ports had handled 606 million tonnes of cargo in 2015-16 as against Rs 581 MT cargo in 2014-15.
The minister said the shipping markets have been under pressure since late 2008 due to the uncertainties in global markets and Indian shipping industry too has been suffering due to depressed and volatile freight market.
He further said, “The freight charged by shipping companies is a function of international demand and supply cargo and ships. There is no correlation between liquidity in the Indian economy and freight rates which are international in nature.”