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Indian container cargo set to grow 8% amid Red Sea Crisis: CareEdge ratings
The Business Guardian
|May 17, 2024
India's coal cargo throughput at ports is estimated to grow at a CAGR of 3-4 per cent from FY24 to FY26, despite an anticipated decline in coal imports by 2-3 per cent, CareEdge Ratings projected in its recent report.
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The rating agency in its latest report added that the share of coastal cargo is expected to rise from 33 percent in financial year 24 to 42 percent by financial year 2026.
Coastal movement of coal along the eastern coast, complemented by added capacities and synergistic benefits will be the main drivers of this growth, the report added.
The Red Sea crisis has led to an increase in voyage span by 15-20 days, in addition to higher freight rates.
Dit verhaal komt uit de May 17, 2024-editie van The Business Guardian.
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