Top
Millennium Post

Iron ore mining ban hammered cargo traffic by 13% last fiscal

Iron-ore cargos recorded negative growth of 13 per cent in 2013-14 mainly due to domestic mining ban on the commodity even as overall container traffic at the ports grew 5 per cent to 980.49 million tonnes, the Economic Survey said on Wednesday. ‘The traffic in iron ore recorded negative growth of 13 per cent primarily owing to a ban on mining iron ore,’ the 2013-14 Economic Survey said.
Supreme Court, in April this year, allowed an annual cap of 20 million tonnes of iron ore to be extracted in Goa which was banned by it in the state for nearly one-and-a-half years. During 2013-14 major and non-major ports in India accomplished a total cargo throughput of around 980.49 million tonnes reflecting a 5 per cent rise over 2012-13.

Any port with two or more berths and facilities and equipment capable of discharging 1,00,000 tonnes of cargo per month from ocean-going ships is a major port. ‘This is due to an increase of 1.8 per cent or 555.49 million tonnes in the cargo handled at major ports,’ it said. In contrast, the traffic at non-major ports grew at around 9.6 per cent during 2013-14 as compared to 9.8 per cent in 2012-13. Traffic at non-major ports in 2013-14 rose to 425 MT from 387.87 MT in 2012-13. During the year Ennore Port recorded the highest growth in traffic at 52.9 per cent and Marmugao the lowest at 33.7 per cent.

Meanwhile, driven by a seven per cent rise in consumption and high utilisation ratio, steel production in India grew at a compound annual growth rate of 7.9 per cent in the past five years, the Economic Survey said. ‘In the last five years, crude steel production grew at a compound annual growth rate of 7.9 per cent. Such an increase in production was driven by 9.8 per cent growth in crude steel capacity, high utilisation rates and a 7 per cent growth in domestic steel consumption,’ it said.
Next Story
Share it